Off-Price Specialist Show Pre-Registrations up 20% from 2009
Tight Supply yet Growing Demand for Off Price Goods explain part of expected increase in this February’s Show Attendance
BROOKFIELD, WI - The Off Price Specialist Center announced on February 2nd that their pre-registration for their upcoming Off Price Show (February 14-17, The Sands, Las Vegas) jumped 20% from this time last year.This includes a staggering increase of 44% in first-time attendees and 21% in Founders Club members representing the largest off price chains.International buyers registered for the show are also up 31%.
While the show management is pleased with its marketing efforts over the past couple years, they attribute a good part of this spike to two conflicting trends – the limited availability of off price goods due to lower volumes of manufacturing in the past year, and the growing demand for these same fashions from retailers seeking better margins in today’s value-driven market.
“We’re there in good times and in bad,” said David Lapidos, Senior Vice President for the Off Price Show.“We have experienced growth in attendance over the past couple years because of the declining economy.Now that apparel manufacturers have lowered their volumes in response to these conditions, it makes the demand for off price fashions more competitive.This is why more retailers – both big and small – are coming to the #1 source for off price goods – our show.”
“People (i.e. manufacturers) are playing it safe,” said Ben Macabee of McQueen’s Wholesale in Los Angeles.“They’re producing less, but they’re charging more, which means there are plenty of goods in off price.The Off Price Show is a lifeline for everyone.I’ve been doing the show for 10 years and I truly think it’s a great, great market.”
The Off Price Show is growing on the other side of the aisle as well, with 33 more exhibitors and 80 more booths than last year’s February Show.There are also 40 new exhibitors, many of them focusing on the hottest selling categories like costume jewelry, scarves and other accessories, dresses and formal wear for women, basics, hats, printed tees and footwear.
“We view Off Price as an ideal market for cashing in on these trends,” says Sammy Mosseri of new exhibitor Pan Oceanic.The New York-based group is 4 companies in 1, each specializing in eyewear, children’s branded accessories, scarves and footwear respectively.“We plan on making a big splash at our first show.”
Lapidos asserts that the combined increases in attendance and exhibition sales stem from a more educational approach to the show’s marketing efforts.
“In 2008, our message was ’on trend fashion, below wholesale prices’ to emphasize the quality of goods in our niche of the industry and de-construct the myths about off price as merely schmatta.In 2009, we launched the ’This is Off Price’ campaign which included re-branding our magazine with the same name so that we could integrate our marketing and publishing communications to educate all retailers on what they can’t afford to miss.”
Exhibitors like McQueen’s are benefiting from the show’s marketing campaign.“We close out a young men’s line called Apokolypse that is in great demand,” said Macabee. “Retailers that find us at the show are veryexcited to get these branded products at 50-75% below wholesale.We’re doing great in tops, bottoms and the whole nine yards.”
In conjunction with the quarterly magazine’s 2010 Resource Guide, the show launched the new website – THISISOFFPRICE.COM to reach even more merchandisers searching for wholesale clothing, accessories and footwear, while communicating the latest news of the trade in a timely manner.
“We are in the immediate goods business,” said Lapidos. “So the website allows us to report the real hard news of our trade – THE DEALS – as soon as we learn about them.It is a terrific benefit to our vendors and retailers.”
The new online magazine also includes a “cool new” digital version of the printed quarterly, with links to advertisers and vendors who are covered in the editorial.The website, like the re-branded magazine, is show-focused, since management feels that the bi-annual show is the pulse of the industry.
“You look at our success in the face of tough times and you can make a case that our show is the nerve center of the off price world,” said Lapidos.“More buyers are figuring out that they have to be here to score the best values in the fashion industry AND develop the relationships with our vendors in order to get deals year-round.”
While the lean supply of off price goods is a contributing factor to the sharp rise in buyer registrations, the show management also believes that their overall success stems from their “educational message.”
“The top 2 sources buyers and new vendors are citing for finding us are word of mouth and the internet,” Lapidos reported.“They are referred by suppliers, buying offices and they are finding us on the top of the search engines.We even have leading discount retailers coming from South America and Eastern Europe.”
The next Off Price Specialist Show takes place February 14-17, 2010 at the Sands Expo & Convention Center, HallG, in Las Vegas.It is the largest and only Off Price Show in the apparel industry, and is proud to be the official Off Price Show of Las Vegas Fashion Week.
