World Market Center Las Vegas announced a new Market structure and timing that, beginning in August 2010, will create two multi-faceted mega-markets each year in order to increase sales for both retailers and manufacturers. The new cross-category business platform is designed to provide partners with increased value by attracting a wider array of buyers, expanding new channels of distribution, and maximizing sales opportunities at the most efficient, optimum periods relative to the industry’s business cycles in the new economy.
In 2010, the new Summer Las Vegas Market will run Aug. 2-6, 2010, serving as the anchor of an integrated mega-market that will be co-located with World Market Center’s debut shows Gift + HomeTM and Vegas KidsTM. Gift + HomeTM and Vegas KidsTM will feature a dedicated but complementary date pattern of Aug. 4-7, 2010 including a weekend component which has been identified as important to the independent gift retailer. Together, these events will attract the broadest possible range of buyers, exhibitors and designers to Las Vegas for extraordinary business opportunities. In years beyond 2010, Las Vegas Market plans on holding its Summer Market in a similar time frame of late July and first half of August based on calendar and strategic considerations.
World Market Center Las Vegas also announced it will hold its 2011 Winter Market during the last week in January – Jan. 24-28, 2011. These new dates maximize the synergistic value of World Market Center’s strategic partnership with SURFACES, the floor coverings industry’s leading event and INSPIREDESIGNTM, World Market Center’s new hospitality design show, to create a winter mega-market. In years beyond 2011, Las Vegas Market plans on holding its Winter Market in a similar time frame of late January and early February based on calendar and strategic considerations.
“Our ‘mega-market’ approach, combined with the new Summer and Winter Las Vegas Market dates, represent an innovative new way to add value for our partners and empower businesses to increase their profitability in this new economy,” said World Market Center Las Vegas President and Chief Executive Officer Robert Maricich. “This diversified model clearly meets the industry’s need to cost-effectively generate new leads and sales by promoting cross-category activity among complementary industry sectors.”
Maricich continued, “At a time when all businesses require introspection and must challenge themselves to create more value, we are proud to embark on strategic decisions that, based on input from many of our partners, optimize sales opportunities for their businesses and expand channels of distribution. As a privately held enterprise, World Market Center is truly a unique business platform, able to respond to our customers’ needs quickly and decisively. We have always said we would do what is best for our customers and their customers. In this unprecedented environment, we are confident these strategic business decisions will benefit our entire industry.”
The new initiative, which has the unanimous support of World Market Center’s Advisory Board, will provide retailers an opportunity to see increased new product rollouts, cross-shop a diversified product platform, discover new vendors, and place orders in order to have merchandise in their stores during the important fourth quarter.
The new market weeks also minimize staffing and travel considerations for exhibitors, retailers and designers whose event schedules will be simplified by the new and consolidated slate of events. The new schedule also reduces potential industry conflicts, allowing businesses to focus all of their attention on maximizing their returns during Las Vegas Market week.
“We are very pleased with the new dates announced for the Las Vegas Market,” said Phil Haney, president and CEO of Lexington Home Brands. “We think these dates represent the optimal time for us to introduce new product to our dealers, while allowing them to take advantage of the exceptional hotel and travel values being offered in Las Vegas.”
“An early August Las Vegas Market restores the natural rhythm for exhibitors and buyers who attend the winter market in late January,” said Larry Woods of Powell Corp. “World Market Center has done a fantastic job of neutralizing the summer heat for our attendees, making it a non-issue. An early August date also allows time for our summer product introductions to reach retailers’ floors before the holidays, which is a win-win for retailers and exhibitors.”
“The earlier timing allows us to introduce new collections with enough time to be able to produce and ship the product before year end. This improves our sales potential in the current year and ensures the possibility of a reorder in the first quarter of the following year,” said Ed Grund of A.R.T. Furniture.
Exhibitors for the new Gift + HomeTM show will include a diverse range of categories, including seasonal, floral, decorative accessories and general gift. Vegas KidsTM will attract exhibitors and buyers across an equally broad range of interrelated industries, including nursery and youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift.
“Everyone associated with Global Views is excited to have the Las Vegas Market dates move to early August,” said company CEO David Gebhart. “Most importantly, our customers will be happy to get at least one more full turnover from the inventory they purchase during this earlier show. This move will also allow us to devote our undivided attention to making our showroom in Las Vegas our most exciting showroom around the country. The weekend of selling will also have a huge impact on our customers’ reactions to this show. These are good business decisions for our entire industry.”
About World Market Center Las Vegas
World Market Center Las Vegas is an integrated home and hospitality contract furnishings showroom and trade complex. The state-of-the-art campus showcases furniture, decorative accessories, gift, lighting, area rugs, home textiles and related segments, as well as the Las Vegas Design Center (LVDC), now open daily to consumers and designers. World Market Center currently hosts Las Vegas Market™, the preeminent total home market, biannually. Additionally, making its debut in February 2010, INSPIREDESIGNTM at World Market Center represents a dynamic alternative for manufacturers and companies serving the hospitality design marketplace. In 2010, World Market Center will launch the inaugural Gift + Home™ show catering to the gift, decorative accessory and seasonal industriesalong with Vegas KidsTM which will provide youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift. Find us on Facebook and Twitter.
For more information on World Market Center Las Vegas, visit www.LasVegasMarket.com