A crucial contributor to the American economy, the furniture sector has generated in excess of $100 billion annually, even during the economic recession. Factors keeping the industry lucrative and moving forward are manufacturers’ ability to innovate and consumers’ demand for more environmentally-friendly products.
Among places to discover these and other trends are at furniture markets hosted nationwide throughout the year. Markets give industry professionals the ability to share new products and view trends expected to drive revenue. To ensure that visitors gain the most from their experiences at an event, some of the most popular markets have taken the following measures.
Las Vegas Market
During its 2016 winter showcase, the Las Vegas Market made history by breaking the record for highest attendance since its inception. With plans to host other successful events, the market is undergoing an expansion of The Pavilions, which will be a temporary home to approximately 500 exhibitors during its summer engagement.
More dates have also been released to allow interested parties to plan their visit to future Las Vegas Markets. Similar to those in the past, the markets will occur in late January and July. The 2017 events kick off on January 22nd and July 30th. The 2018 markets commence on January 28th and July 29th. In 2019, exhibitors will display products beginning January 27th and July 28th. The final market dates announced were January 26th and July 26th of 2020. Each market spans five days and attracts attendees from around the world.
The Dallas Market is receiving a facelift with the creation of a new design facility. Dubbed The Interior Home & Design Center, the 220,000-square-foot space will give interior designers and retailers a new place to conduct business on the first floor of the International Trade Plaza building.
Market representatives shared with Furniture Today that construction will begin on the center during the summer of 2016. Its projected open date is slated for the fall of 2016. The premium space involves relocating existing companies from the first floor to a nearby location, making room for new companies to establish a presence.
As of April of 2016, the market began accepting leases from manufacturers and sales agencies looking to expand operations into Dallas. The market has placed great care in hand-selecting companies that will be able to conduct daily business operations from the facility.
The facility will feature custom showrooms with large front windows, natural light, and a clean and modern aesthetic, and it will also partake in the seasonal markets. Tenants will benefit from a newly-updated registration area and valet parking services as well as exterior doors allowing for easy access to and from hundreds of parking spaces.
Tupelo Furniture Market
In an effort to enhance the user experience, the Tupelo Furniture Market redesigned its website. The launch played an integral role in communicating the new programs that the market rolled out prior to its February event in 2016. Among the latest opportunities was its Small Operator Program. The benefit provides special pricing on a wide range of products for smaller companies through partnerships. Products range from home furnishings to appliances.
The new website makes it easier to navigate to find applicable market news, industry discounts, new product offerings, and close outs. Further, Tupelo Furniture Market dedicated a page to its new Design Center. Situated in building II of the market, the center highlights manufacturers and distributors of furniture and textiles, as well as window treatments and flooring products.
High Point Market
July 1, 2016 kicked off the construction of High Point Market’s latest addition, a 50,000-square-foot facility that will be affixed to the New Classic showroom. The current space, located at 135 South Hamilton Street in High Point, North Carolina, covers 30,000 square feet. Expected to be completed in the spring of the following year, the showroom has been designed inside and out by ARCH Studio 7 and a local contractor.
The two firms focused on combining contemporary with historical design to develop a cohesive aesthetic. The market also contracted CD & Associates to integrate educational components that help retailers understand company offerings. Once finished, the interior will provide room for new and existing products. The fifth floor will serve as a lounge and entertainment area that extends outside onto a terrace overlooking the city.
The facility will receive a boost in marketing strength, as well, if Governor Pat McCrory signs the proposed budget approved by the Senate and House of Representatives in July. The new proposal for 2016 and 2017 would provide an extra $400,000 in recurring marketing dollars as well as $200,000 in non-recurring promotional funds.
If enacted, the marketing budget for the High Point Market will be $22.3 billion. The cost is expected to boost the success of the market, which is “the largest economic event in the state,” according to Doug Bassett, High Point Market Authority board chairman and president of Vaughan-Bassett Furniture. The market generates a substantial income for the local economy.