Are We as an Industry Keeping Up With Our Customers?

The Consumer Electronics Show was just held in Las Vegas, and sometimes you can get a feel for the economy and markets in general from this show, as it is the first big tradeshow of the year.

GOOD NEWS! Attendance was up at the CES over 2009. This bodes well for the economy, as it may just be that consumers are finally starting to feel a little more positive.

On another note, tech firms are now targeting moms as the real decision-makers (see article below) when it comes to purchasing technology…that’s quite a change from the generally accepted idea that men/dads make the tech buying decisions. This confirms what we have been stating for over a year now…’Moms are the MOST technologically involved consumers!

Are we, as an industry, keeping pace with our primary consumer? The short answer to this question in most cases is ‘NO’. You need only look closely at most of the industry speakers during conferences and industry trade shows these past few years, and you will find that a majority of these speakers are hawking the same business and marketing strategies they have been using for years. With social networking being of prime importance to moms, you’d have to believe that industry speakers/gurus would be proficient and knowledgeable about social media…yet most have only an obligatory presence, if any, on social networks, and very little understanding of how these networks integrate and impact sales. How are they going to be able to help retailers and vendors keep ahead of the curve?

Buying groups have been playing ‘catch-up’ since the Internet boom in the mid 90’s. In the beginning, most of these groups hindered rather than helped their members (specialty stores) by NOT allowing them to embrace the Internet or face banishment from the group. After realization that they’d better “get with the program,” their answer was to offer members “cookie-cutter” sites, devoid of any real interaction with the consumer.

Let’s face it…the only constant is “change.” In the past 10 years we have seen legendary retail stalwarts fail, and “unknowns” grow exponentially. Vendors are becoming more and more vertically oriented, competing for the same customer as their retailers…as web 2.0 has made it easier to interact directly with consumers.

I hear specialty-store owners lament that margins are smaller and customers seem to demand more service from them, while at the same time accepting less service from e-tailers. This is not true. Actually, consumers are demanding more service and interaction from ANY and EVERY company they deal with…online and/or brick and mortar. Our industry needs to start being pro-active!

Trade shows that are loaded with product are nice, but these days business strategy, service, efficiencies and acumen MUST be combined with a strategic product mix in order to achieve success. Shows with no educational content are missing the boat, delivering only part of what businesses need to succeed, and doing a disservice to buyers and vendors in their industry. I applaud TIA Toy Fair for including the Engage! Expo during this year’s Toy Fair in NYC. (http://www.engageexpo.com/ny2010/toyfair/)

Winter Market at Las Vegas World Market Center, February 1 - 5

That brings me to the World Market Center in Las Vegas. This $1.5 billion world-class, state-of-the-art facility combines style, inspiration, education and productivity like no other. The Las Vegas Winter Market takes place here from February 1st-5th. It is not only a great market to see and experience new products and designs in the home furnishings industry, but their Educational Programs and Seminars are top-notched and progressive. Please visit http://www.lasvegasmarket.com/wmc/market_information/events-market/ to learn more. These priceless events and seminars are free to attendees.

Vegas Kids, August 2-7 Combines New Products and Business Seminars

The World Market Center Las Vegas just announced a ‘Mega-Market’ this summer, August 1-7. Vegas Kids and Gift+Home will run concurrent with the Summer Las Vegas Market August 2-7, making this an event of mega proportions! Being involved with this event, I can tell you that it will be the most tech-savvy, inspiring, and innovative event in our industry, bringing together vendors and buyers encompassing a wide range of inter-related niches and categories. The educational seminars, workshops and networking events will be bold and forward-thinking…featuring business experts that not only understand the market, but are also visionaries, directly involved with shaping the future of retail.

In this difficult economy vendors and buyers alike should be excited to have the opportunity to participate in a Mega-Market like the World Market Center is offering this summer…buyers being exposed to vendors from other market segments, vendors exposed to new categories of buyers…and everyone exposed to top-notch, cutting edge seminars, workshops and special networking events.

If you’d like more information on Vegas Kids, or have comments or questions, I look forward to hearing from you.