Adaptations to the Summer 2020 Las Vegas Market – later summer dates with a showroom-only format and virtual events – proved successful as exhibitors reported strong buying at market, running Aug. 30 – Sept. 3, 2020.
The market presented 1,300+ resources to predominately regional buyers sourcing new products for design projects, replenishing needed merchandise and preparing for vital fourth quarter selling reports International Market Centers (IMC).
“Although Las Vegas Market was unlike any we’ve ever experienced, we were able to manage and meet buyer and supplier expectations,” said Bob Maricich, IMC CEO. “From arrival to exit, we delivered a safe and business-focused buying opportunity that best supported market needs during this uncertain time.”
Market Sees Strong Western Buyer Attendance, Higher-Than-Normal Designer Traffic
In line with pre-market predictions, IMC reported that 20% of the usual summer market buyer attendance was represented, with designers making up a notable 28% of marketgoers. Las Vegas Market attendees were predominantly regional with 77% coming from the Western United States. In total, Las Vegas drew attendance from 44 U.S. states with California, Nevada, Utah, Arizona and Texas rounding out the top five.
Buyers largely reported a safe and well-organized market experience.
“It’s just extremely efficient and focused so I’m able to get a lot more accomplished in a shorter amount of time,” said Cindy Levine of Intrigue, Design by Cindy LLC in Park City, Utah. “I’m actually buying more than I ever have and it’s the busiest I’ve ever been.”
“We’re sourcing items for a project we’re doing and upping our inventory for our online store. We’ve met awesome vendors and made some great relationships. Overall, I feel like it’s safe,” said Freddy Godinez and Alexander Stabler of Fredric Alexander in Las Vegas.
For other buyers, the immediate need for product drew them to the market.
“I fully intended to be here to purchase because we need products,” explained Ginger Stroup of Patio Paradise in San Bernardino, California. “We knew it was time to come, see what’s here and get things moving because lead times are a little slower across the board. Our season on the West Coast is starting and Las Vegas Market is the first step to being prepared.”
Tenants Report Productive Market
Companies across the furniture, home décor and gift spectrum reported robust sales, solid traffic and a safe business environment.
“We are very happy with the overall experience,” mentions Jason Clay, vice president of North and Central American sales and merchandising for Global Home. “We decided to open our showroom because we have product that is in stock and ready to ship. Immediate delivery is what most buyers are looking for as the demand is high. Several key buyers and top 100 dealers that have never shopped our line were here and showing gave us the opportunity to connect.”
Ralph Orozco, principal of Horizon Home, says he felt it was the company’s “responsibility to open” for summer market. “We had about 30 accounts come through and 27 of them left orders. People that are coming are here to buy.”
Across the three buildings, exhibitors adhered to IMC’s safety protocols and some went the extra mile to ensure their showroom was safe with added cleaning measures. To limit showroom traffic, they also set digital appointments and utilized virtual tours.
“On the first day, we had 30 customers and two appointments,” said Jackie Moon of Next Steps Reps. “We’ve done a lot of virtual business and on the website, we added two to three-minute videos from vendors giving tours and descriptions of their space and products. We’ve also taken all the necessary steps for safety including hiring a company to sanitize the showroom.”
New Digital Resources Improved Product Discovery and Sourcing
For a safer market experience and in line with buyer sentiments, Las Vegas Market suspended in-person events and rolled out a robust lineup of 25+ virtual pre-market webinars addressing a range of topics that included business practices during COVID-19, current market trends, diversity and inclusion, product discovery during market and retail best practices. The market also introduced a suite of enhanced filters for the LasVegasMarket.com Exhibitor Directory. The new search capabilities identified showrooms open for summer market, exhibitors with ShopZio-enabled B2B ecommerce capabilities and those with 3D showroom tours.
Following market, the Market website – LasVegasMarket.com – will continue to maintain connections and commerce. These post-market resources include video tours from market, product spotlights such as IMC’s Market Snapshot and B2B ecommerce capabilities through IMC_di’s ShopZio platform, which includes 400+ brands and 1.3 million SKUs available for purchase. The full catalog of pre-market webinar recordings also is accessible through the Market website (https://www.lasvegasmarket.com/about/recorded-webinars).
The Expo at Market Center Makes Summer Market Debut
The Expo at World Market Center Las Vegas, a 315,000-square-foot exposition facility on the World Market Center Las Vegas campus, opened during summer 2020 market. Originally slated to hold Las Vegas Market’s temporary gift and home exhibits, the Expo was used for registration and health screenings. A grand opening of the Expo is planned for Winter 2021 Las Vegas Market when it will host the return of temporary exhibits.
“IMC’s successful staging of their summer Las Vegas Market strongly signals the return of the convention and tradeshow industry in Las Vegas,” said Chris Meyer, Vice President Global Sales for Las Vegas Convention & Visitors Authority (LVCVA). “Tradeshows are a key driver of the southern Nevada economy, and we look forward to welcoming IMC customers back to Las Vegas in January when IMC christens their new tradeshow facility.”
Business Done Together Safely
Las Vegas Market’s Together Safely health and safety procedures exceeded all local and state mandates. Enhanced safety measures included contactless pre-registration, temporal monitoring, required use of personal protective equipment (PPE), social distancing, occupancy control, hand sanitizing/cleansing and significantly enhanced housekeeping.
“We have successfully navigated our summer markets coast-to-coast and look forward to building upon these experiences as we plan for 2021,” Maricich continued. “The entire ecosystem has shifted because of COVID-19. As recovery continues, IMC will keep its finger on the pulse to continue to adapt to meet the industry’s needs.”
Las Vegas Market is the leading home furnishings and gift market in the western U.S., presenting 4,300+ furniture, home décor and gift resources in an unrivaled market destination. Las Vegas Market features thousands of furniture, home décor and gift lines, allowing for cross-category commerce among these industries. Winter 2021 Las Vegas Market runs Jan. 24 – Jan. 28, 2021, at World Market Center Las Vegas.
Published verbatim courtesy of Las Vegas Market Ineternational Market Centers
