President @ CeXperentia | Driving Sales Growth in Home Furnishings with best-in-class products and customer experience metric software as Medallia's partner to the Home Furnishings Industry
Does this image give you cold sweats? I’m sure it has Las Vegas Market | ANDMORE℠ thinking strategy. ✅Accepting what “is” is one thing. ✅Understanding why it “is” is important. ✅Deciding how to negotiate through what “is” is critical if you want to come out the other side better. It’s easy to get negative when you see big players go down and then come to market and see this….. but choosing to complain about it and get you down (which I heard a lot of) is actually pretty sad and pathetic. Choose to win….. it’s doable and a lot more fun.
This photo was clearly taken "after" Market was closed. Market attendance was slow, even for a Summer market. And I agree that they need to make changes to appeal to a younger demographic. The "Design Center" model, definitely had it's day. But your post doesn't address several impact factors: 1. Online shopping 2. The impact of COVID 3. The rebranding of Market 4. The new leadership 5. The pricing "race to the bottom" 6. Lack of business education (design and retail) 7. The impact of business finances and the failing of several manufacturers 8. The lack of information sharing at events I have launched "The Design Fund" - an accelerator and pre-seed venture fund for the home goods and design industry, with the hopes of invigorating new concepts. I'm also meeting with Market in order to introduce concepts from other industries, in order to increase new product awareness and build anticipation for new product releases. I am also petitioning Market to take a leadership position on organizing a more "symposium" style educational component to Market events. I believe we need a greater exchange of ideas and concepts. I also host "Design Tank"- a biweekly virtual event, to having feedback on new concepts.
👏👏👏 the “slowest” market many claimed was my best…
Todd, you hit it head on. This can’t last in our industry. These guys are bleeding millions every show. Something has to give.
The heat, covid surges, recession fears and drops in industry sales all placed downward pressure on market this season. Real estate influences this sector immensely and it’s been a roller coaster of bubble worries for about 18 months - with increasing interest costs (now falling) and a market with no inventory and fewer sales creating an artificially, absurdly inflated (unaffordable for the vast majority) sales pattern. Presidential election uncertainty, Middle East conflict and the Ukraine / Russian war is on people’s minds and the lackluster employment reports - and stock market response tells the story.
Hey! I had a cigar with that view last week!
I Smell a Corporate Acquisition Brewing: Is the Future of Furniture Markets Up for Sale? Here's a link to an article I wrote. I'd be curious about your thoughts: https://www.josephhaecker.com/post/i-smell-a-corporate-acquisition-brewing-is-the-future-of-furniture-markets-up-for-sale
Like your thinking - stay positive and stay strong The old adage “ when life gives you lemons - make sweet lemonade”
Things brings back so many memories.
I dont go to the Vegas Market Anymore. 🙁
I think ANDMORE needs to do some soul searching to make the cadence of these Markets work. Asking the industry to support 2 unique locations 2 times a year each (not to mention regional and buying group shows) is not realistic any more. With consolidation and changes in the retail landscape, attending 4 markets a year isn't relevant or cost effective. Just like Jamestown NY and Grand Rapids Michigan were the furniture meccas of yesteryear, things change. Like Hickory and San Francisco Markets are no longer, it's time to evolve again. We need factory and retail leadership to write a new chapter of Furniture Markets.