Here’s some encouraging news! According to the International Market Centers, parent company of World Market Center Las Vegas, the Winter Las Vegas Market 2012 far exceeded expectations with strong traffic and sales created by an uptick in consumer confidence. Market officials reported significant attendance increases among retailers across all categories, interior designers, as well as international buyers – especially those from Canada, Latin America and the Middle East.
Robert Maricich, CEO of International Market Centers, observed that last month’s market was the strongest ever in three years. “Given the depth of the recent recession, our success speaks volumes about improving consumer confidence and a resurging economy,” he said. “According to our statistics, the recession is officially over in the eyes of the furnishings industry. The energy at Winter Market was palpable. Buyers were buying, and ultimately, that’s what counts.”
Here are some statistics from the five-day (January 30-February 3) Winter Las Vegas Market:
- 14% increase in attending companies as compared to Winter Market 2011
- 27% increase in Latin American buyers and a 33% increase in Middle Eastern buyers compared to Winter Market 2011; plus almost twice as many Canadians attended compared to Summer Market 2011
- 23% increase in buyers as compared to Summer Market 2011
- 83% of the industry’s top 100 retailers attended
- 31% increase in interior designers visited, as compared to Summer Market 2011
- 4,000+ new U.S. buyers attended for the first time; and 1,000+ new international buyers
- 71% of first-time buyers were from the West Coast
- 21% increase in furniture buyers, as compared to Summer Market 2011
- 19% increase in decorative accessories buyers as compared to the Summer market
Since August 2011, Las Vegas Market signed an additional 275,000 square feet of showroom and exhibit space to 257 companies. This included 236 new companies to the Las Vegas Market and 21 existing tenants that have expanded. More than 50 ribbon-cutting ceremonies took place during Market week, adding significant energy and buzz. In total, Las Vegas Market encompasses more than 5 million square feet of exhibition space across three state-of-the-art, interconnected buildings which feature more than 1,000 exhibiting brands and lines.
The recent merger of the World Market Center Las Vegas complex and the most premier High Point properties, now forming the International Market Centers umbrella, is a positive force for the industry, Maricich said. “The two Markets are now cooperating, not competing,” he added. “It’s a union that has been a long time in coming, but one that is mutually beneficial for everyone in the industry. We can now offer buyers, exhibitors and manufacturers the best of both Markets.”
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