INSTORE Show Roundup – A Sense of Optimism in the Air
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23.04.09, 10:14
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Retail
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| INSTORE jewelry and diamond trade show |
| At the close of the first ever INSTORE Show in Chicago, one cannot help sharing in the sense of optimism. After a disappointing holiday season, and the hard-felt effects of the recession, many were beginning to question the necessity of trade shows in 2009. Enter INSTORE's approach as "The Smart Jewelry Show," which uniquely attracted the smaller and more local jewelry retailers by offering a program of workshops, classes, and peer-experience-sharing - within the exhibition hall itself.
In speaking with exhibitors and attendees, it was evident that many would not have traveled to a jewelry trade show this year, were it not for the Midwest location as well the curiosity of the new presentations and advice for the independent jeweler. More than once, a conversation at an exhibitor's booth was cut short by "I'm sorry, can you hold these aside and we continue in an hour? I want to check out a workshop that is starting in a minute."
Although many of the attendees were concentrated during the first day or two of the show, the initial turnout was encouraging and exhibitors were happy to report an uptick in the industry by taking orders from both existing and new customers. As mentioned previously, buyers and exhibitors mentioned several factors which contributed to the positive atmosphere including the location, ease of access to Midwest attendees, the "less hectic" atmosphere to other national jewelry shows, and the cautious return to buying in the market.
The jewelry trade show encompassed many facets of the jewelry retail business, from diamonds pearls and gemstones, to branded and unbranded jewelry, to display cases, lighting and even down to presentation boxes. This was presented in a pleasant atmosphere, and earlier accounts pointed to this as being one of the positive features of their experience.
Some diamataires were also among the exhibitors. Leon Peres of Ofer Mizrachi (USA) suggested that the INSTORE show has the potential for buyers "especially the smaller localized from Wisconsin, Indiana and other nearby areas - who would not have the time and expense to attend national shows in New York, Las Vegas and other places." This aids the buyer as well, as "some of them are exclusively supplied locally, so this show can broaden their market" to new supply opportunities. Peres also noted that exhibitions today "are more for PR rather than sales", with buyers attending out of interest to see the latest trends and explore different items and suppliers rather than bringing a checkbook and an empty shopping bag.
That being said, as the show progressed, it could be said that a glance in the various jewelry exhibitors' showcases it was not uncommon to see a smattering of "sold" labels among the samples and displayed items. An exhibiting jewelry manufacturer was pleased with the interest of the buyers at the show and pointed to the fact that "however harsh the Holidays were, retailers still need to re-supply parts of their inventory to stay current."
Suppliers were keen to attract the "regular" stock-purchases for customers' inventory, but could not ignore the continued necessity of memo, as long as the unsold goods were returned in time for the Vegas show. With Mother's Day approaching, an upscale designer reported that "a common request by our customers is for the goods to remain on memo until after Mother's Day, as there is an expectation for an increase in sales during late-April and May."
Veterans of other national trade shows were in agreement that the show's organizers "pulled it off well." One senior industry figure predicted: "Watch this space - this show has to potential to become one of the important dates on the calendar. I look forward to seeing how it develops next year."
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By: Steven Silverstein, CEO IDI NY
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