In Fast-changing Fashion Retail Industry, OFFPRICE Holds Its Own
February 27, 2018
In its 47th year and held recently at the Sands Expo and Convention Center in Las Vegas, OFFPRICE drew in positive attendance who connected with 475 vendors, 49 of which were new to the show.
There also was a strong international presence on the showfloor.
“I had new business with a department chain based in Mexico, with almost 200 storefronts,” said Harry Nassib, OFFPRICE exhibitor.
He added, “This show, in particular, helped build awareness for my company and put my merchandise in front of buyers who I may not have reached elsewhere.”
Even with the hurricane hitting Puerto Rico late last year, buyers from the area still were able to turn out.
“We actually experienced a five percent increase in buyers from Puerto Rico,” said Stephen Krogulski, CEO of the OFFPRICE Show.
He added. “It just goes to show shopping off-price is an asset to their business and we were grateful to be able to help them begin the year strong.”
With a quality buyer attendance, especially on the second day, many exhibitors felt the February OFFPRICE Show helped them nurture current business relationships and generate new connections.
“It’s no surprise that the retail industry is a changing landscape,” Krogulski said. “Retailers are adjusting their buying strategies, sending adequate resources to cover all of Las Vegas Fashion Week, and incorporating more online B2B interactions.”
New this year was the debut of OFFPRICE365, OFFPRICE’s new online marketplace for buyers and sellers.
“This February was a great show,” said Paul Maya, exhibitor at OFFPRICE. “We were not only able to showcase our merchandise to new buyers, but I was happy to see how OFFPRICE365 is going to help my company attract new business online. The platform is going to be a valuable tool for exhibitors, but also a great asset to our off-price community.”
Now more than ever, retail education and experience are key to getting the most from the OFFPRICE. On the second and third show days, Allie Olson, Founder of Retail Prowess, and Ashley Alderson, Founder of the Boutique Hub, presented to buyers of all sizes and experiences.
Retail topics covered included: successfully delegating, maintaining professional relationships, best hiring practices, customer loyalty, marketing, buying strategies and much more.
More than 50 buyers were able to take notes, film their own recordings and get personalized business advice from the industry experts.
Off-price retail continues to thrive, despite a fast-changing retail environment.
“The time for off-price is now,” Krogulski said. “Today’s customers are loyal to retailers who are willing to be transparent; offer fashionable, quality products with low prices and pass savings down to shoppers.”
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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