OFFPRICE Show sees an upward trend for in-person events
Welcoming buyers from an impressive number of visiting countries, there was an optimistic buzz on the show floor during the February ’22 OFFPRICE Show, held at the Venetian Expo.
“We’ve seen in the past year that live events, done safely, play a critical role in the retail space. The positive momentum is certainly with the industry. With three shows completed in a year’s span, we see attendees and exhibitors growing each time.” Tricia Barglof, Executive Director of the OFFPRICE Show.
“We are learning, as the world is, how to best navigate this new landscape. How to keep the human connection in commerce. How to take advantage of the technological advancements created due to quarantining, and how to keep and create connections that are vital to business.” noted Tricia.
Because of the vast array of categories found at the OFFPRICE Show, retailers had the ability to efficiently source products for numerous departments all under one roof. OFFPRICE provided buyers the opportunity to maximize their open-to-buy dollars and fill open shelf space with on-trend, ready-to-ship merchandise that often offers margins of 50% or more. Sustainability, a hallmark of OFFPRICE, also empowered buyers to purchase over run product from retailers that could’ve otherwise gone to waste. Selling it to off-price buyers reduces excess and encourages sustainable business practices, allowing for a more robust circular economy.
Adding Tricia, “From the increased size of the show, almost 25% larger than our August 2021 show, and the increased size of buying volume seen on the floor, attendees were undoubtedly there to do business.”
Exhibitor Wayne Cloth noted, “We used to exhibit at other shows at Las Vegas Fashion Week, but now we’re here, we wrote orders from start to finish, if that’s not a statement of how great OFFPRICE is, I don’t know what is!” Further adding, “The lead retrieval technology that OFFPRICE offers is great too, we get all the buyers’ important info by simply scanning their badge, we scanned hundreds and got their details instantly.”
Tracking in the range of pre-pandemic levels, OFFPRICE saw an impressive return in buyer attendance as well. Audrey Taylor, Global Retail Business Manager said. “Supply chain news and uncertainty sparked a great deal of curiosity and eagerness to see what goods and deals were available at OFFPRICE. Many retailers are shifting their strategies due to changing demographics and shopping habits as a result of the pandemic, so they come to our show to develop relationships with new vendors. We have seen specific growth in interest from retailers out of South America and Mexico wanting to source from the United States and we were pleased to welcome a strong international presence at the February 2022 show.”
Future OFFPRICE Shows will brace for an influx of products from overseas due to shipping improvements and factories reopening post-pandemic. When resolved, there will be a high volume of off-price merchandise looking to be sold at lower costs, benefiting retailers’ inventory assortment and bottom lines. As always, we look forward to helping retailers make valuable connections and source products, while keeping margins high and shelves stocked.