Revitalized premarket most successful one to date
By Heath E. Combs -- Furniture Today, March 22, 2010
HIGH POINT —
Last week's spring Premarket proved to be the most successful one since a group of sponsoring vendors began revitalizing the event three years ago.
Premarket takes place about a month before the April and October High Point Markets, giving manufacturers a chance to show new product and get feedback on prototypes in advance of the spring and fall shows.
The two-day event has about two dozen sponsors who pay some expenses for attendees.
Brian Casey, president of the High Point Market Authority, said there were 192 buyers from 83 companies at Premarket, up from 134 buyers from 67 companies last fall.
“We had more people here Monday than I've ever seen for a premarket,” said Buddy Spradlin, CEO of case goods and occasional source Riverside. He said buyers from 35 stores were in the space that day.
Spradlin also said retailers were becoming more optimistic. “More and more people are telling me they're starting to make a profit,” he said.
He said Riverside benefited from the opinions it heard from retailers on the product prototypes it showed here, which can be adjusted before the April market. “The direction we get here keeps us from making mistakes,” Spradlin said.
Case goods importer Legacy Classic Furniture also saw more accounts than at last year's Premarkets, said Lee Boone, president. He attributed the increase to the growing strength of the event and the improving economy.
Boone said he was pleased at the response to Legacy's new product, as well as the constructive criticism it received.
“We get great feedback and can pre-sell and establish distribution in different markets,” Boone said. “Our dealers gave us a lot of good input and we will revise a few things and we will have to fly some new samples in for market, but we will be better as a result.”
One retailer attending premarket, Dan Dougherty, who owns several stores in the Southeast under Thomasville, Bassett and Classic Home names, said business lately is a little better than last year, but consumers are still cautious and value-oriented.
Jack Richardson, president of case goods sources American Drew and Lea Inds., said attendance was up 25% from the last Premarket.
“Smaller accounts are starting to come,” he said. “It helps their shopping experience for market.”
He said the companies' new introductions, including a 50th anniversary edition of American Drew's Cherry Grove collection, received strong dealer response.
Stanley Furniture said its Monday traffic was almost comparable to a slow day at market.
“People are shopping now…. They're looking for something fresh,” said Adam Tilley, vice president of product management for Stanley. “The appetite for a little risk is coming back as opposed to playing it safe.”
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