FTS kicked off the Vegas furniture market with the formal debut of its Experience Center showroom.
Pre-COVID crowds and new product intros abounded
By Michael Posa, FTS
Did you make it to the Winter Las Vegas Market last month? If not (or even if so), here is a brief recap.
Attendance was nearly as high as before COVID took its toll, with thousands of buyers lined up to see what was new. It was great to see attendance back up, and from what we heard, retailers were spending money.
But in speaking with BrandSource members and vendor partners, we discerned a distinct dichotomy between the two. Overall, vendors seemed very hesitant about perceived economic headwinds, possibly more so than the typical BrandSource furniture dealer. Their general consensus was that capacity and scale increases of the last two years are very difficult to wind down, as not every vendor has agile manufacturing. Many are also quite concerned with the CPSC’s proposed new furniture tip-over rule and its impact on the manufacturing process, sourcing and logistics.
See: New Storage Unit Standard Draws Fire from Furniture Groups
In contrast, members, while certainly concerned with demand and the economic outlook, were encouraged by moderating inventory levels and a stabilizing supply chain, as well as the fresh crop of new products and trends. BrandSource dealers overall have remained agile throughout the last three years, and some certainly benefitted by bringing in new labor or acquiring new real estate. For the most part, our members are well positioned to manage a downturn and drive new customers into their stores via promotions.
As mentioned, there were many new introductions and innovations at the Vegas show, in contrast to more recent markets. Retailers were excited to see new products in the showrooms, which can help drive traffic to their websites and stores as current design trends are growing a bit tired. Let’s explore a few of these new introductions and trends:
Corsicana: The company has a new bedding lineup coming under the American Bedding brand with new, lower prices. Any Corsicana beds carried over from 2022 have also been reduced, including the foundation, the vendor said, while the 2023 versions are coming in at even lower prices. Also, the company’s three Black Friday promotional beds are now priced even lower and are ongoing lineup specials.
Serta: Coming soon from Serta are a line of iComfort Eco Beds, sharing many of the same iComfort features along with earth-friendly materials.
Tuft & Needle: Now owned by Serta Simmons, the brand says it will be building the badge out soon and suggests speaking with your rep for authorization to sell this direct-to-consumer brand or to show on your sales floors.
TSI: Three new Hybrid Breeze mattresses will be available soon, featuring distinctive cooling covers, layers of specialty Tempur material and encased coils.
Scott Living: This licensed brand from Restonic is hot, as anything featuring TV’s Scott brothers is selling! We have a BrandSource-exclusive lineup that is available now and features their unique Q5 support system in the line’s higher-end beds.
Primo: The company introduced its Sealy-branded Sealy Lounger, a giant bean bag-type chair filled with fresh-cut foam. It’s very comfortable and can retail at half the price of similar chairs while still providing huge margins.
Boyd Sleep: A couple of things of note here, including a Thomasville-branded direct-ship mattress — a five-bed lineup retailing from $999 to $1,999. There was also an interesting head-up adjustable base that is more a piece of equipment that fits below any mattress and works on any bed or bed frame. Direct-container priced at $135, it’s a perfect response to the competition’s “free adjustable base with mattress purchase” offers.
Diamond Mattress: The company designed a whole new program exclusive to BrandSource called Pace by Diamond Mattress, which includes some aggressively priced beds.
Multiple functional furniture pieces could also be found sprinkled throughout the show:
Coast2Coast: Notable was a sofa table that converts to a desk or dining table.
Emerald: Emerald showed an ottoman that converts into a twin-size bed with a headboard, as well as a recliner with a refrigerated cupholder for those slow drinkers, to keep their beer cool. (I’d probably fill it with beef sticks for the game!)
Michael Posa is General Manager of Home Furnishings for YSN publisher AVB BrandSource and leads the group’s home furnishings initiative, Furniture Technology Source (FTS). Contact him at Michael.Posa@avb.net.