The IMC Survey * forecasts there will be markets and business by The October at High Point when approximately c. 60% of the surveyed report they will feel comfortable returning to a market by plane and staying in a hotel. That’s considerably up from 24% if the markets were to open today. And so there will be a High Point Market will be October 17 – 21!
Important Take-Aways:
- Most retailers expect to need inventory in the near-term with a focus on core products and vendors.
- Digital tools will likely play an important role as a complement to in-person markets during recovery.
- In-person markets remain critical. While somewhat low today, attendee comfort levels increase over time and with established protective measures.
Home Decor has seen a 67% decrease in total sales over the same period in 2019 and 79% decrease in in-store sales. Anecdotally, RNAD has heard of a strong uptick in online rug sales over 2019 — even in higher end products. But this survey reports a 5% decline in Home Decor, which may be a statistical error.
And The World Trade Center Expo Building in Las Vegas is completed. It replaces the Pavilions. It is ideal for social distancing.
* The IMC Survey
IMC commissioned Stax, an independent global strategy consulting firm, to administer a survey to provide a real-time representation of buyer and vendor perspectives during COVID-19. The survey sought to understand the conditions of their businesses, recovery expectations, market sentiments and use of digital tools. The respondents were a statistically significant cross-section of IMC’s customer base, with appropriate representations of both demographics and industry sector.
