Amidst Evolving Retail Sector, OFFPRICE Show Wraps Up Successful Event
August 22, 2018
Buyers and sellers traveled from as far away as Australia, South and Central America and Europe to convene at the 48thedition of OFFPRICE, the biannual trade show that serves the off-price retail industry.
Held Aug. 11-14 at the Sands Expo & Convention Center in Las Vegas, the OFFPRICE Show takes place every August and February during Las Vegas Fashion Week and is known as the largest off-price show in the country, boasting more than 500 vendors and nearly 1,300 booths that attracts more than 12,000 buyers.
According to OFFPRICE officials, the main topic of conversation buzzing around the aisles of the showfloor was OFFPRICE365, the online marketplace designed for OFFPRICE buyers and sellers that made its debut at the February event.
“There were many vendors and buyers who made their way to the Networking Hub throughout the show to get started selling on OFFPRICE365 and learn how to take quality product photos for their e-commerce sites,” said Yen Lim, with Simp-Q Photo Studio, a photography product solutions company that was assisting OFFPRICE vendors with taking products shots for immediate upload to the OFFPRICE365 site.
He continued, “Now more than ever, retail business owners are realizing the importance of showing off their products with professional-like images they can easily take themselves.”
Collectively, more than 2,600 products have been uploaded by OFFPRICE vendors on the new e-commerce site, according to show officials.
“The retail landscape, including the off-price channel, is still undergoing a transition,” explained Stephen Krogulski, CEO of the OFFPRICE Show.
He continued, “Many retailers enjoy sourcing through the website, while others prefer a combination of face-to-face interaction and online discovery throughout the year. What remains the same is that any retailer can blend off-price products into their mix for a successful business strategy.”
The show also offered new retail solutions with non-profits such as Soles4Souls in an effort to help OFFPRICE retailers find networks for responsibly sharing their resources, ideas and connections.
“We were very proud to be the official charity at the August 2018 OFFPRICE Show,” said Buddy Teaster, CEO for Soles4Souls. “There were many vendors who attended our brief presentation and later inquired about how they could partner with our non-profit and coordinate efforts to help those in need.”
The OFFPRICE Show will return Feb. 3-6 to the Sands Expo & Convention Center.
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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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