By Jessica Goldbogen Harlan
As home furnishings, decorative accessories and lighting companies head to the New York International Gift Fair in January, they’re hoping to see buyers that are more confident than in previous months, who are anxious to replenish holiday-depleted shelves.
Despite the troubled economy, exhibitors report that New York’s January gift market is traditionally a strong one, and although they suspect that traffic might be down, they’re optimistic that they’ll still write some orders.
“New York is a very cost-effective show for nearby retailers and designers, with plenty of great product to choose from,” said Mac Cooper, president of The Uttermost Co. “We are expecting good traffic despite the tough economic environment.”
Steffan Craig, marketing manager of Timeworks, said the economy has caused low expectations for the show, but he had similar feelings heading into High Point Market earlier this fall and was pleasantly surprised. “There weren’t a lot of buyers, but it turned out to be a pretty good show for us,” he said. “We wrote some business and made good contacts, and walked out with smiles on our faces.”
The key to success at this show, the first one of 2009 for most exhibitors, will be to have value-priced offerings and to be willing to work with retailers on special discounts, promotions and freight deals, sources said.
“Retailers are looking for a good bargain right now,” Craig said. “They want the best possible prices they can get on lines that they know will sell through in their stores.” Craig said his company is focusing on repricing some of its existing antique reproduction clock styles, simplifying the designs so that the company can reduce the cost. “Buyers are really looking for savings they can pass along to their consumers,” he said.
Similarly, Deb Olson, president of home and garden decor company Woods and Willow, said her company will be talking to its customers at the show about creative incentives with terms and freight.
“We want to find some ways to give extended terms and discounts on large volume orders,” she said. “That will be very attractive to retailers because freight has been a hot button.” With gas prices finally returning to normal, however, she noted that this issue might not be as pertinent to retailers in early 2009.
In terms of design, Cooper of Uttermost believes retailers will be looking for “fresh, clean, contemporary product, scaled down slightly in size from past years.” His company will be following these trends with new lamps, mirrors, art, accessories, accent furniture and permanent botanicals.
Meanwhile, Amy Jo Cosgrove, director of sales and marketing for Barbara Cosgrove Lamps, said that while retailers will be looking hard at price tags while they’re shopping the market, they’ll also be seeking out green and sustainable products.
“Hopefully, with the election of [Barack] Obama, everyone is much more earth-minded and civic-minded,” she said. In Barbara Cosgrove Lamps’ space, the focus will be on occasional tables, including a wooden tulip table and a Duncan Phyfe coffee table.
Olson commented that while during a tough economy, many companies will be more conservative about introducing products and making a big investment at markets, Woods and Willow is taking the opposite approach, expanding its line by 450 SKUs and expanding the size of its booth. The company will introduce upholstered furniture for the first time to the American market, and is also showcasing dining hutches and a dining table in a room-by-room setting in its booth. A garden-room area will be the company’s “wow” statement, Olson said, with an assortment of terrariums that have been hot sellers since they were introduced in the summer.
“We are not afraid of the economy, we just hope to have a really strong presence in the market,” Olson said. “In times like this, if you have great product, great value and offer different types of incentives, these are the companies that are going to survive.”