The Tale of Two Markets
This week, I had the distinct pleasure of going to both the Las Vegas market and the High Point pre-market. In the old days, I used to have customers show up at different factory market spaces at the same time. At least they were in the same city! But this last week I had customers in Vegas, High Point and overseas. I also had customers who were happy to be staying home. Oh, the simpler days of one market in one season. One of my factories opened both their Vegas show room and their High Point showroom and reported traffic both places. I had another factory that opened their High Point showroom only and had their best Monday at pre-market ever. So what’s it all mean? Well first and foremost it sounds like business is starting to pick up a bit at retail and retailers are in need of some goods. That’s wonderful news.
Second, having two markets at the same time may have gotten one or two more retailers out to see new product, but it is definitely not very good for the industry. The biggest challenge for those selling bigger retailers going to both Vegas and later to October High Point is that many retailers will not review their lineups until after both markets end. Therefore Vegas and High Point add major inefficiencies into the system without any increase in the opportunities to get a new placement. When the markets were quarterly, the retailer would review his lineup after each market. With markets on top of each other there’s just more shows without more decisions.
And here’s the worst part. The markets pay for some large guys to show up. That, one way or another, comes out of the rent which factories pay, and goes into the cost of the product. More inefficiencies that gets put into the cost of the product.
For us reps it is really a squeeze. I rode on the plane with a guy who went to North Carolina first for a command performance at a factory meeting and then he had to go to Vegas for a late market meeting with a customer at another line. We are fortunate because there are two of us who can work with each others customers. I’m not sure how a single rep with multiple lines and two markets will be able to accommodate their customers if this continues. Let me know your thoughts.
NotaSalesRep commented:
Texas Rep:
There is support for HP, because it is the first and original. Maybe you should know your furniture history before making such a jack a s s comment. I'm sure there is plenty of prostitutes in HP, since you really don't seem to care about what your job really is. Besides Las Vegas is interested in money, and that's it. How can a region with no furniture history actually care about it? They don't. It's just another convention to them.
Texas Rep commented:
I am amazed at the support that still seems to be for a HP market. I am squeezed to the max covering two shows. EVERY major customer I call on is happy shopping the Vegas Show. Cheap Hotels, Cheap Flights, Good food and entertainment. I just found out my biggest line is leaving HP. All I can say is good riddace.
Ohio Rep commented:
Thanks to "Sales Rep" for the info on www.RepFurniture.com. Great service, and free.
spyder commented:
I emailed the WMC for a list of retailers that were getting their way paid to Vegas. I was basically told it was none of my biz. As a rep I found that offensive and not good biz on their part. I wanted to use that info to make a decision as to go to Vegas or stay home and work the road. I wrote biz at home cause my dealers did not go to Vegas. The timing of this Vegas market sucks and now there is going to be an additional market for accessories?
East Coast Rep commented:
I remember at the 1st Las Vegas Market the Mayor with a show girl on each arm saying that the only reason to go North Carolina would be to GO Fishing...I'm pretty sure that soon the only reason to go to Las Vegas will be to Gamble.
GA rep commented:
Why do we fight each other and waste so much time and energy? Our competition is; tvs, appliances, cars, cell phones, movies, restaurants, etc. Let's sell more furniture! Ego's go away Vegas. HP dates have been around more years. You are not going to eliminate HP! Focus. Sell furniture. This is not the government running our industry is it?
Big M commented:
And the guy that is the president of the WMC used to run a Furniture Co? Guess he forgot! These dates need to be put back where they were, and please Chris-better lines in H.P. now you even know thats BS.
chris commented:
Hate to make generalities but here goes. Young people love Vegas, older guys prefer the slower pace and familiarity of HP. HP has better lines, Vegas is a conglomeration of Asian goods. All the Asian goods look the same to some people. If I were a betting man I would bet that the Vegas Market people spend alot more time collecting rents and in court fighting off bankruptcy.
MiamiMan commented:
High Point is old school, Vegas is new and fresh as well as less expensive to travel to and to stay at for most everyone plus it is waaaay more convenient in so many ways. I see NO advantages to High Point unless you are a retailer or manufacturer based on the east coast. I would love to hear why others feel high point is better.
srgdrgdf commented:
sdgsagf
furnicologist commented:
hmmmmmmm, you think a buyer actually was ok w mkts 4x year,no they did not do well in this 4x yaer days.no one shipped in between mkts in 6 mo before vegas existed...now shipping /case goods/ is 10 mo. if lucky and price is only issue quality is not seen at mkts.we are over marketed too many shows same thing seen over and over.............interhall looks old even
DTown Rep commented:
This past Vegas market will prove to be the tipping point. Vegas market officials made a critical mistake by moving the dates to line up with pre-market. It will cost them dearly.
DOSCH SALES commented:
The real issue here is the redundancy of the LasVegas Market now that they have changed the dates. With one of my lines we showed really cool new product but will show the same product to the same major dealers who saw it in LV; only to put off the commitment of both the dealer buying it and the Company to commit to cutting it for another 30-45 days! What a waste of time and money for all involved!!
Mary Smith commented:
You are right on!
Victor Pedraz commented:
Regardless of any and all the PR nonsense that emanates from the WMC in Las Vegas this date revision on their part for markets is catastrophic in it's long term consequences to the industry at large. Reps are not the only part of our industry that have severe budget constraints. Each aspect of our industry be it manufacturers or retailers or designers etc. all are affected by the arrogant actions on the part of the WMC. If WMC was REALLY interested in the expansion and fiscal success of the Home Furnishings/Fashion business they would be well served to bring a more calculating and thoughtful perception to the marketplace as they have CLAIMED to do with 'Is it home yet?'
XXXYYYZZZ commented:
?
jim wolf commented:
It sucks. Whoever came up with this idea should be shot. Wait until their leases expire in Jan. and see what happens. There's going to be a lot of real estate/space available...then see how much $$$ they have to throw around. Can you say Chapter 7 or 11.?
Cindy Williams commented:
I agree. Las Vegas attendance was a huge disappointment to many and the issues seem to be more about which market authority will win and not what is best for the retailer, manufacturer, rep, and ultimately the consumer. A better solution needs to be explored.
Sales Rep commented:
A new website, www.RepFurniture.com, is free for Sales Reps and free for Sales Managers. This site should be very beneficial to Sales Reps when it comes to getting lines and getting exposure. Sales Managers are already using it.
