With a total attendance of over 10,000 at the recent August 2009 Off-Price Specialist Show, and over 450 exhibitors showing off their best merchandise, there was an atmosphere of high-energy activity that resulted in the formation of intense, exciting, and fresh new buzz over the steals-and-deals in the Closeout and Off-price Industry. While many of the doomsday-types predicted a rapid cooling period for the Retail and Wholesale business that would lead to catastrophic results for anyone who dared to get involved in such a volatile and dangerous market… the people who make up the Wholesale and Retail sector know that the show must go on, and it’s really up to us to determine whether that show is going to be a comedy, a tragedy, or a gut-wrenching drama…

There were a lot of smiles at the show, and reports from the field were all rather upbeat and similarly positive about the great turnout, the attitude of the buyers who showed up, and the unexpectedly good order rate on the sales floor. For some sellers it was not a matter of trying to capture the attention of buyers, but instead a matter of trying to get the orders filled out quickly, so they could give everyone the attention they deserved!

“It was nice to meet a lot of new customers and future friends. Thanks to everyone that was patient enough to wait in line for our product!”

Kenneth Delaney

Bordan Shoe Company in Los Angeles

One of the truly surprising features of the show was a huge focus on the low price-point merchandise that was being put right next to luxury-brand goods. In an economy that seems to be shifting with the winds, and a lot of dollar-pinching going on… innovation sometimes takes place in some unlikely ways. While the Luxury Market’s share of the consumer pool is slipping downward, the Budget and Discounted Goods Industry is seeing tremendous growth. Of course, this is what anyone would expect to see during a financial pinch, but what’s become one of the hot topics of the business is the fact that these two areas of retail –- which were once miles apart — are now rubbing shoulders and competing on the same sales floor. In a brilliant move, the sellers and distributors have adapted to the changes, and made the move to put these high-end goods to the test by offering choice to their customers that was not available in the past.

“My lower price point items performed better than the upscale goods that we are known for!” Kathy Chikato

Commerce, CA–based DLM Off Price Specialists

Another point to consider is the influx of new vendors who showed up to announce their goods. According to David Lapidos, Senior Vice President for the Off Price Show, conversations with attendees revealed that everyone was quite able to find what they needed at this event. A good mix of general merchandise, specialty items, and everything from bulk costume jewelry to sports wear and athletic gear made their presence felt and heard at the show. Wait a minute… wasn’t this supposed to a bad year for everyone in the business? Shouldn’t we be slowing things down, and waiting for the right time to promote our products and services again? Mr. Lapidos added that “All who attended will re-affirm that this industry is very much alive.”

It looks like the slow and cautious strategy couldn’t be more out of tune with the sound of people filling the convention center… and the songs of victory that were being hummed by happy vendors at this event. Winter merchandise made a huge hit on the sales floor, and the variety of goods in all categories on offer was a clear sign that making your move sooner — rather than later — is the only strategy to consider. This show experienced a 10% increase in buyer attendance and an equal increase in exhibit space from last year’s show, so there’s little doubt that the following shows will yield similar results. Remember, this is just the beginning… and if you missed out on the amazing August event, you’ll be pleased to know that another chance is coming up fast. For information regarding the upcoming Off Price Show on February 14-17, 2010 at the Sands Expo & Convention Center, Hall G, Las Vegas, you can follow the link we’ve provided. Happy wholesaling to everyone who made the August show such a success!