Now that the boxes are loading and the booths are disappearing, how was NYIGF received by buyers and vendors? Well, if you’re to believe the buzz on the floor, pretty good. More or less. Depending on who you talk to and what their goals were.
Don’t get me wrong-—the vibe was positive (even more so than usual for the summer NY show) from both sides of the table. Vendors and sales reps were happy to see qualified buyers on the show floor, sans “lookie loos” that don’t make the journey during slow economic times. According to more than one rep group principal, the buyers they saw were of high quality. Having tough times, yes, but smart, prepared, and with a plan for fourth quarter.
They also admitted order sizes are smaller. To me, that’s good news. I’d rather see retailers balance incoming invoices against available funds in their bank accounts (as opposed to ripping out mammoth orders now that equate to 120-day late invoices in November). In the end, that’s a good great thing.
Retailers were pleased with the positive attitude of vendors and reps, happy to see the cocky attitudes of the past two or three years vaporize in the hard light of reality (yes, Virginia, we really do all need each other to survive). The only disappointment? There doesn’t appear to be a trend of any kind. Nothing particularly special or unique, which is a problem for stores wanting to set themselves apart as a destination retailer. Of course, they realize vendors cut back on development 8-9 months ago, but the fact remains, the lack of fresh goods is going to be a problem.
I’ve said it before, and I’ll say it again (and again and again and again): Vendors who want to win the battle this holiday season will need to warehouse more inventory than normal, and be ready to ship on a moment’s notice. The old school of thought that retailers needed to shoulder the responsibility of carrying inventory on their shelves (as opposed to vendors carrying it on theirs) is dead. From here on out, warehousing has to happen on both ends, period.
If you’re a vendor preparing to welcome reorders after November 15th with “Gosh, we’re sorry, but that’s sold out,” brace yourself. You may get away with it this winter, but come January, you’re unlikely to see new orders during the next market circuit. Retailers have long memories, and the things that stick with them most are the vendors who made things work…as well as the vendors who didn’t.
The former group wins the long term game. The latter gets to pack up and head home. See ya.
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Amen! Lots of vendors seemed to be trying with minimums, but those that didn’t I walked away from…I went back to carrying a line I had dropped and they welcomed me with open arms…and free shipping, lower minimums and free product. I’ll remember.
Cinda- I think you’re absolutely right about the NYIGF- good vibes, and it seemed, people were ordering (I did!) but you hit the nail on the head about there being “no trend”. I always see something that seems to be prevalent, or rise to the top- something I come away with as the “big thing” and that was just missing. I suppose if we all get back in balance, the new things will come back, and hopefully not too late!
The show isn’t over yet!!!
Out of respect for those of us (the majority of us) that still have a half day show today and out of respect for those buyers trying to finish up some last minute business before heading home, could you wait to post the wrap up until the show actually ends?
I’m of the mindset that the “show ain’t over, til the show is over”. I would never dream of packing up my booth early; I find it incredibly disrespectful to the buyers who come to the show. I respectfully ask as a vendor that maybe you don’t “call” the show until it has truly ended.
While you may not have noticed any new “over-arching industry trend,” there were a few notable things the NYIGF team reported:
1 – Tons of new “green” products, which is an existing and growing (even in tough economic times) trend. Let’s recognize and celebrate the companies which continue to innovate in the sustainable category. Visit nyigf.com for details about nearly 175 products featured in NYIGF’s “SustainAbility: design for a better world.”
Beyond green, the NYIGF team noted two areas that are trending-up:
1 – Home audio products… ceramic and whimsical decorative speakers, as well as other products for i-pod docking were new from several exhibitors at NYIGF.
2- Felt as a decorative accessory… long featured in apparel and children’s toys, felt has moved into home products! Especially notable is the number of companies working in PET felt made from recycled water bottles.
And, bloggers galore attended market, spotting and commenting on other trends they noticed…. from robots to owls, and grenades to pigs, seems that everyone managed to spot something that will be the “next big thing”!