Retail Observer

RETAILOBSERVER.COM NOVEMBER 2024 30 A S S O C I AT I O N [ N E W S ] I n a letter to the home, housewares, and travel goods industries, Derek Miller, president and CEO of the International Housewares Association (IHA), provided an update on IHA developments and plans for The Inspired Home Show 2025, set for March 2-4 in Chicago. In the letter, Miller introduced new IHA board members and outlined initiatives for what will be celebrated as the 125th Show, produced and managed by the IHA and its predecessors. He noted several exhibitors and brands set for the 2025 Show that didn't participate in the 2024 edition, and he detailed category expansion for the 2025 Show, including a new travel goods expo and partnerships on new candle and pet product pavilions. Miller also provided an economic and sales outlook for the business, citing recent industry sales data and insights from market research and analytics company Circana: Dear Home, Housewares & Travel Goods Professional, With The Inspired Home Show scheduled to open five months from now, I wanted to share a mid-year report detailing what's happening at IHA and within the industry: • Exhibitors — By the time the Show opens in March, well over 1,000 companies will exhibit, bringing thousands of brands and products including new brands and products not seen last year. Notable names making a return to the Show or debuting for the first time include Corelle, Corning Ware and Chicago Cutlery, all found within the Anchor Hocking booth. Others include Bodum, iDesign, Bormioli Luigi, Regal Ware, Vacane Home Concepts, Azzure Home, US Merchants, Anova Culinary, Dualit, and Arovo. • Economic and Sales Outlook — We just completed the annual CHESS conference, where the industry comes together for networking and executive education. A highlight each year is a presentation by Circana. Also, Lora Morsovillo and Joe Derochowski provided a detailed review of and an encouraging outlook for our industry. U.S. kitchen electrics grew a modest 0.7% while housewares declined 2.8% through July compared to last year, which is likely not surprising to many IHA members given your own sales experiences. What's important, though, is the longer-term outlook that predicts an overall even 2024 and 2025, followed by growth in 2026 and beyond. Digging deeper into the data, the industry experienced incredible growth in 2020 and 2021 as the country sheltered at home. And, as Joe once said, "You spend your money where you spend your time." He described these years as a "pull forward" stage when consumers purchased products earlier than the normal buying pattern would dictate. This was followed by 2022 and 2023, when the industry saw related decreases with slower than normal sales and the challenges of over inventory. 2024 and 2025 are recovery periods when the industry is beginning to recover and make a comeback as we hit the replacement phase for many products, which begins about four years after initial purchases. What's exciting is the growth projected for 2026, as we continue with replacement in addition to lower interest rates, which lead to increased home sales and kitchen remodels and growth in the number of people hitting key life moments, which are a catalyst to sales. The 2025 Show in March is positioned at the end of the first quarter of the year and is used by buyers to find products that will hit shelves later in the year and into 2026 – the Show's timing is well placed as it sits toward the end of the recovery period and at the beginning of a period of growth. • 125th Show — IHA's predecessor, the House Furnishings Manufacturers Association of America (HFMAA), held its first Show in 1939 at the Palmer House hotel in Chicago. Until 1992, there were two Shows a year, with one held annually in Chicago and the second rotating among Philadelphia, Atlantic City, and Atlanta. The Inspired Home Show 2025 will be the 125th Show that the Association has operated, which is quite an accomplishment! Over the past 80+ years, IHA, through the Show, has helped launch and grow brands from infancy to legacy. We'll celebrate these milestones at the Show and will share additional interesting stories about our rich history in the months to come. For those of you already planning to participate at the Show next March, thank you. And for those considering attending, please know that you're welcome to make IHA and the Show your home – we'd love to work with you to help you succeed within our dynamic marketplace. Those interested in exhibiting should contact Nancy Michael, and those interested in attending should contact Sean Daly, both of whom would be happy to answer any questions you may have. To receive an entrance badge to attend the Show, attendee registration is open on the Show's website. We're looking forward to seeing you in Chicago next March! Derek Miller, President & CEO, International Housewares Association IHA'S MILLER OUTLINES NEW EXHIBITORS, CATEGORIES FOR 2025 INSPIRED HOME SHOW RO

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