IMC says Vegas market ‘great indicator’ for industry’s future


LAS VEGAS — International Market Centers, organizer of last month’s Las Vegas Market, reported a 25% year-over-year increase in attendance, coupled with a wide spectrum of new products through the market’s 1,000 furniture, home décor and gift permanent showrooms and temporary exhibits.

Bob Maricich

“The unbridled optimism of buyers and suppliers at Las Vegas Market was reminiscent of pre-pandemic market conditions and is a great indicator of our industry’s future,” said Bob Maricich, IMC CEO. “Business was brisk, and new relationships forged as the right buyers and the right sellers came together to kick off 2023 on a very positive note.”

Attendance growth was driven by an influx of new buyers, the return of many for the first time since the pandemic, and a strong fourth quarter. Ultimately, the winter Las Vegas Market attracted attendees from all 50 states and 68 countries.

Some 33% of attendees were new to Las Vegas Market, with 12% returning for their first market since January 2020. International attendance was up by 107%, with the largest gains in Canadian attendance at a 350% increase, while domestic traffic was up across all regions. A post-holiday surge of optimism was evident in the market’s registration pattern, with 56% of attendees registering after Jan. 1.

Among buyers attending the market, there was a 50% increase in furniture buyers and a 40% increase in interior designers.

A bedding market

Strong traffic in more than 100 mattress and bedding brands confirmed Las Vegas Market as THE national buying event for the industry, according to the IMC.

Derek Miller, chief sales officer of Serta Simmons Bedding, which returned to Las Vegas Market this winter with two new showrooms including a dedicated space for its Beautyrest and Tuft & Needle brands, said, “The energy was palpable, our showrooms were packed, and we received outstanding feedback from our retailer partners on our new collections.”

Steve Rusing, Tempur-Sealy president of U.S. sales, added, “The winter 2033 Las Vegas Market was even busier than 2020. It was on a whole different level: the retailers are back. Our traffic year-over-year was up 36%, which set a new record.”

Running concurrently with four other design and construction industry trade shows — Design & Construction Week’s NAHB International Builders’ Show and The Kitchen & Bath Industry Show; The International Surface Event: Surfaces, StonExpo and TileExpo; and The National Hardware Show — Las Vegas Market saw an increase in attendance from architects, builders, contractors, developers and hospitality specifiers as well as floor covering, hardware and home improvement retailers.

The next Las Vegas Market is July 30-Aug. 3.

See also: What were retailers shopping for at Las Vegas Market?


Source link

Home Decor Ideas Trending Master Bathroom Mirror Ideas for Your Home