June 15, 2017

NeoCon - June 2017

NeoCon 2017

Chicago Office/Contract Show:  NEOCON, June 2017

The halls were jammed this year for the annual commercial furniture exhibition in Chicago. Attitudes were upbeat and most of our clients are signaling good sales and profits for the year.

Quote of the market #1: "This feels like the go-go years of the 1990s" opined one veteran sales rep.

Change is occurring in the sector as traditional desking and systems/cubicles are giving way to open collaborative work stations, power enhanced seating, height adjustable tables and multiple surface materials. Wood veneers have given way to stone, glass, Corian and other synthetic types of raw materials.

Many office players are reshuffling management and factory structures to accommodate the new normal, with emphasis on better IT, less reliance on Asia and speed to market. On floor 7 (open temporary exhibitors) presented every possible product assortment similar to those of the larger players on the other 3 floors, which reminds us that product is only one of the keys to success.

Quote of the market #2: "We are now more consultants helping customers understand corporate environments to achieve a higher quality of community within the workspace. We address the needs, then find the products to meet those needs."

We discussed mergers & acquisitions at every stop and found eager acquirers and a plenty of interested sellers. With interest rates low, stock prices high, and PE and Asian money plentiful, we anticipate several deals to be announced in the coming months.

Our shuttle diplomacy between buyer and seller showrooms, hotels and out-of-the way restaurants (frequently at odd hours) confirmed that deal talk is alive and well. In particular, we see continued interest from commercial furniture folks moving into hospitality and residential sectors as a source of new customers and growth. Hence the Resi-mercial and hospi-dential terms keep bubbling up.

Neocon remains one of our favorite trips of the year. And it’s hard to beat Chicago in June.

Call us if we can be of assistance.

Related News

Hospitality & Design Show - May 2014
Market

Hospitality & Design Show - May 2014

Our 48 hours in Las Vegas for the HD (hospitality and design) show were exciting and full of upbeat conversations. Most companies are enjoying solid growth‎ as hotels are refurbishing and new construction is heating up.

Hospitality & Design Show - May 2014

Our 48 hours in Las Vegas for the HD (hospitality and design) show were exciting and full of upbeat conversations. Most companies are enjoying solid growth‎ as hotels are refurbishing and new construction is heating up.
HighPoint Market Oct 2019
Market

High Point October 2019 Update

The High Point Market is the Super Bowl for the residential furniture industry. Historically, over 75,000+ people come to town twice a year to visit the 2,200 exhibitors that display their goods in over 12 million square feet of showroom space spread out over 150 buildings.
HighPoint Market Oct 2019

High Point October 2019 Update

The High Point Market is the Super Bowl for the residential furniture industry. Historically, over 75,000+ people come to town twice a year to visit the 2,200 exhibitors that display their goods in over 12 million square feet of showroom space spread out over 150 buildings.
Stump M&A Advisory Team at High Point Furniture Market
Market

April High Point Market 2022

The High Point furniture market was in full swing this week and it felt like the first market with a semblance of “post…
Stump M&A Advisory Team at High Point Furniture Market

April High Point Market 2022

The High Point furniture market was in full swing this week and it felt like the first market with a semblance of “post…
Stump Market Minute: The Rise of eCommerce
Market

Stump Market Minute: The Rise of eCommerce

Stuart Stump Mullens shares analysis and insight into the rise of eCommerce in the Home Furnishings industry.

Stump Market Minute: The Rise of eCommerce

Stuart Stump Mullens shares analysis and insight into the rise of eCommerce in the Home Furnishings industry.