In what is starting to be a great trend for the Unfinished Furniture Association, the 2004 UFA National Convention & Trade Show in Memphis was another well-received event. Following the 2003 Show in Indianapolis, which was generally accepted as the best show in years, feedback from retailers and exhibitors about Memphis has been just as glowing. Exhibitors were extremely happy with the turnout and pace of business on the trade show floor, while retailers were excited by the number of new exhibitors and all of the new innovative products displayed. Some attendee comments even tout Memphis as a better show than Indy.
The numbers surrounding the 2004 Show seem to indicate that Memphis was an improvement on the successful Indy show. Memphis featured about 70 exhibitors, which was the same as 2003. This number, however, included almost 15 new companies, which is double the number of new companies that exhibited in Indy. Total booth space sold was up compared with Indy by about 10 percent. Total attendance for Memphis came in at almost 700, with 342 industry companies represented, including 278 retailer companies.
In what is arguably the most important statistic surrounding the show, the 2004 exhibitors combined to introduce more than 2,000 new products in Memphis-a simply outstanding number and more than double the number introduced in Indy. These new products were as varied as wooden decoy decorations, "locker" storage solutions, new bedroom line products, and complete "Total Room Solutions." According to retailers, the new companies enhanced the variety of products shown at the show and offered them a great opportunity to order much-needed product, such as accessory items.
In an informal survey conducted by UFA, almost 90 percent of respondents said the 2004 show in Memphis was very beneficial for them and their businesses. Ninety-six of the respondents already said they plan to attend the 2005 Show in Columbus, Ohio, which is July 17-19 (Education Day July 16).
WILLIE SETS THE PACE
The 2004 Show opened with Education Day on July 10. The highlight of the day was the keynote speaker, Willie Davis, of R&A Marketing. In a very well attended session (more than 200 attendees), Willie offered attendees his secret for success in the furniture retail business-the R&A theory of unfinished furniture relativity. In a detailed presentation of his take off on Einstein's theory of relativity (e=MC2), Willie proposed that success is the result of a store's vision plus passion times mission. No matter a store's definition of success, the achievement of it will depend on the store's passion, its dedication to a defined mission, its well-executed marketing plan, and its operational efficiency.
Among Willie's key points were every store needs a mission statement (five words or less) that defines the reason for its existence; customer value is defined as a customer's personal experience minus the price of the product they purchased (you create value by either lowering price or increasing the personal experience, with the second being preferable); and store traffic is a direct result of your marketing's share of voice times your ad's effectiveness (if you have a large share of voice, you don't need a great ad; if you have little voice, you need a great ad).
Willie's presentation was followed by a number of breakout sessions conducted by volunteers from the unfinished industry. Among the topics of the vibrant sessions were finishing, understanding how manufacturers work, what's hot and what's not in furniture styles and finishes, and the most effective use of your advertising dollar. Each of the sessions included lively discussions and idea sharing among the attendees.
Education Day culminated in the annual Welcome Reception. This year the event was held at the Show's host hotel, the Marriot Memphis Downtown. It attracted more than 400 industry members who shared cocktails, hot hors d'oeuvres, and stories of their year since Indy. The event also featured the annual passing of the gavel, as outgoing UFA president Dave Sommer, the first-ever sales rep president, passed on leadership to incoming president Jack Campbell. In brief remarks to the crowd, Dave thanked all those who contributed their time to the association during the past year, especially the volunteer leaders and the staff of Association Headquarters Inc., UFA's management company. Jack spoke of the association's success during the past year and vowed to keep the momentum going with a great show in Memphis and continued growth of initiatives such as the Real Wood Furniture Finished Your Way® brand awareness program.
BUSY ON THE FLOOR
The pace of business was solid on the trade show floor this year, as retailers saw a lot of new product and exhibitors wrote a good deal of business. The buzz surrounding the show was excellent, as attendees found the show to be very accessible, well organized, and welcoming. Many exhibitors stepped up their efforts this year, unveiling new products and much more creative booth designs compared with years past. Companies such as Arthur W. Brown Mfg. Co., which won the award for Best Booth Design (six or more booths), Khoury Inc., and Donie Chair Co. took advantage of the Memphis theme and incorporated Elvis or the Blues into their booth design. Other manufacturers, from the always impressive Woodcraft Industries, to new companies such as Artist Colony and American Loft & Lounge, had well-designed booths as well. Some companies, while using understated booths, incorporated stylish product in their displays, such as Quality Craft Inc., Maco Furniture, and Rocky Butte Mfg. Some manufacturers polled at the Show believed the trend in nicer booth set-ups was a result of the success of Indy and the industry buzz it created. They believed companies enhanced their efforts in Memphis so they would make sure they didn't go unnoticed.
With the momentum built by the last two shows, many in the industry are looking forward to the 2005 National Convention & Trade Show, which will be held for the first time in Columbus. The new venue offers a lot of great features that are expected to be a great fit for UFA.
