Welcome to New York (or not…)

It’s another hybrid New York Home Fashions Market this week – but more suppliers are opening their doors for in-person appointments and a few more buyers coming to town than last fall.

Although the event isn’t shaping up to be the return to a full, traditional market everyone is still looking forward to, it’s a step in the right direction. For many in the industry, this will be their first experience of New York market since the former showroom hub at 295 Fifth Ave. emptied out in spring 2020.

The largest concentration of companies is now located at 230 Fifth Ave. and there is a decently sized cluster at 267 Fifth Ave., including temporaries. Nearly all of the relocated showrooms are still on or just off of Fifth Avenue. The “market route” along Fifth Avenue now extends from 27th Street to roughly 37th Street.

To help the industry orient itself, HTT has published an online supplier directory – our first update since 2019, aka the “before times.” You can find it at hometextilesweek.com. Access to the directory is free and requires a one-time registration to enter.

So what do you need to know as you head into the showrooms and/or virtual meetings?

At several leading retailers, the concept of sustainability is going well beyond the use of recycled fibers. The tick list also includes circularity, naturally derived dyes and finishes and low-impact production methods. Reducing one’s carbon footprint is the latest must-do on major retailers’ menu of sustainability goals. That is especially true for the supply chain and increasingly extends to packaging.

In addition, the most committed retailers are pivoting from CSR (corporate social responsibility) to ESG (environmental, social and governance). They are creating benchmarks for diversity in hiring and career development, fair wages and working conditions for employees and positive social impact in the communities where employs and customers live. Suppliers whose values and activities align with those goals will have a leg up.

Pricing, of course, remains a huge concern. Major retailers continue to tell analysts they don’t see any price deflation coming from freight or raw materials for the foreseeable futures. They are being mindful of where they take their price increases within their product categories and pricing tiers. Opening price point goods are where retailers and vendors have to take the biggest hit on margin.

Introducing a new brand? Yay. Do you have an influencer/HGTV personality/TikTok star promoting it on their social media? This is quickly becoming the backbone of a well-planned brand strategy, especially in the licensed space.

If you’re coming to town, welcome back to New York. If not, we hope to see you this September. Either way, go forth and embrace some great new products.