Market attendance numbers are in, revealing strong and ‘normal’ spring

HIGH POINT — Registrations for the High Point Market were the strongest for any spring this decade, according to High Point Market Authority leaders.

At the Market Authority’s board meeting this morning, CEO Tammy Nagem reported that early numbers indicate that the April 13-17 market was the best spring market since COVID disrupted everything in 2020.

“I’m happy to report that this is the strongest spring market since COVID,” Nagem said. “We feel good about where we’re going there. In registrations, we are in the neighborhood of about 2% down from fall but 1% up from last spring, so that’s good.”

Not only did those figures represent a return to pre-pandemic levels, but Nagem noted that officials are starting to see attendees get back into their market routines.

“We’re starting to see that consistency between spring and fall markets,” she said. “For years, we compared spring with spring and fall with fall, and after COVID I wasn’t sure what to compare anymore. We’re starting to see that consistency again.”

Going further, Ashley Grigg, the Market Authority’s vice president of strategic growth and partnerships, noted that new buyer registrations were up 13.8% compared with the fall market. Elaborating on that point, Nagem noted that the number reflected around 1,600 companies.

Grigg said the Market Authority does its best to make the new buyer experience as smooth and easy as possible.

“We’re continuing to be intentional in our new buyer engagement,” she said. “We had the insiders tour, seven tours on Friday and Saturday where market veterans are walking around with newbies, teaching them how they do the market. Also, three markets ago, we started doing a webinar before market, a month out.”

International buyer registrations were on par with fall and up 4% vs. spring 2023. Grigg said the top four international regions were Canada, Mexico, Central America and the Caribbean, and the Middle East.

Registrations from larger retailers, including the Top 100, were up 2% year-over-year. Grigg said taking care of those larger buyers is also a key consideration, and there might be some pilot programs that cater to them are coming in the fall.

“We’re looking at those retailers and making sure they feel loved and recognize the buying power and importance they have at the market,” Grigg said. “We were very intentional about getting in front of retailers and hearing from them, understanding better how they work market and how we can help them have a better experience.”

In terms of strategic growth, Grigg said the Vacation Rental Designer Summit, which took place a couple of days prior to the start of market, continues to be an effective recruiting tool. Of those in attendance, 87.3% were buyers, and 33.6% were attending High Point for the first time.

See also:

Credit to Source link

Leave a Comment