Held biannually at the 5-million-square-foot World Market Center in Las Vegas, Nevada, Las Vegas Market is the preeminent furniture and home décor expo in the western United States. The market’s organizers have continuously strived to reach new heights since its launch in summer 2005, presenting a new array of engaging displays, new product announcements, and exciting opportunities for networking and professional development twice each year.
The Summer 2017 Las Vegas Market continued this tradition by setting new records for attendance and retailer participation while showcasing a number of new trends. The following are a few highlights from the most recent Las Vegas Market.
What Was New?
The Summer 2017 Las Vegas Market demonstrated the market’s growing popularity among buyers and retailers in the home furnishings, gift, and décor sectors. It featured a record-setting number of new temporary displays, welcoming over 150 first-time temporary exhibitors, which brought the number of temporary displays at the Pavilions to more than 500. Within the World Market Center, attendees perused 72 new or expanded showrooms spanning over 160,000 square feet of new floor space. Brands unveiling never-before-seen showcases at the most recent summer market included Home Insights, Turnkey, Vanguard Furniture, and Zuo Décor.
The increasingly diverse market attendance allowed many companies to reach out to new clients. One exhibitor of handmade wares, Funky Rock Designs, found that 80 percent of all its orders were from first-time customers. The greater attendance was due in part to record-setting participation from industry groups and associations, with nearly 40 organizations represented.
Las Vegas Market has grown its attendance exponentially in recent years, welcoming the highest number of buyers ever during the most recent winter market. The Summer Las Vegs Market continued this trend, welcoming a comparable number of attendees to its home furnishings showrooms. While the number of furniture buyers held steady, the event welcomed significantly more gift buyers, reporting a 6 percent year-on-year growth that marks the sixth consecutive year of expansion in this category. In addition, outdoor furnishings companies observed an uptick in buyer activity, and market organizers tracked a 12 percent gain in casual and outdoor furniture shoppers compared to summer 2016.
Market organizers also attributed this year’s sustained surge in attendance to heightened engagement from the interior design sector. While the majority of interior designers present at this summer’s Las Vegas Market hailed from Nevada, California, and Arizona, the event saw an 11 percent boost in attendees from the Midwest and a 25 percent rise in designers from northeastern states.
All in all, the increased attendance at the Summer Las Vegas Market provided ample opportunities for home furnishings companies to connect with new clients. Event organizers including Robert Maricich, the CEO of International Market Centers, noted that the recent growth in both new buyers and repeat attendees has garnered the event heightened industry attention and inspired new advocacy efforts.
Benefits and Opportunities
With more than 800 home furnishings design and retail companies in attendance, including multiple top-100 retailers, the Summer Las Vegas Market provided ample opportunities for industry professionals to familiarize themselves with the latest trends. This year, market organizers also observed an upsurge in engagement from many new regional markets. The event’s expanding attendance included an influx of guests from the West Coast, the Midwest, and Mexico. More specifically, the market saw an 11 percent rise in registrations from the Midwest region, as well as a 25 percent increase in attendees from northeastern states.
These trends solidify the market’s position as the West’s leading home furnishings trade show; increasingly, the event is attracting home furnishings professionals who live too far away to conveniently travel to the biannual High Point Market in North Carolina. In addition to praising the geographic diversity of attendees, sellers were also pleased to find a vast array of product categories, including an enlarged temporary exhibit area.
While offering numerous opportunities for home furnishings professionals to get a closer look at the products changing home décor trends, the Summer Las Vegas Market also enables attendees to forge new business relationships, reinvigorate old ones, and advance their professional skills and industry knowledge. Throughout the five-day event, attendees gained new insights form special events including the FIRST LOOK trend presentation, Ahead of the Curve seminar, and the #ViewonVegas showcase featuring influential designers’ top market picks.
Recently, International Market Centers fell under the ownership of the Blackstone Group. This acquisition will allow the firm behind the Las Vegas market to access new resources that will allow it to grow and advance in new ways. In the future, the Las Vegas Market plans to enhance its role as the leading market destination on the West Coast, continuing to offer an increasingly diverse array of products and educational opportunities for today’s leading home furnishings and décor professionals.
Keep an eye out for more information about the next Winter Las Vegas Market, which will take place from January 28 to February 1, 2018.