Let's test your Las Vegas IQ. Which of the following makes the most money in Las Vegas casino hotels?
- Shows and entertainment
The answer may surprise you. While attending a seminar at the recent GlobalShop show in Las Vegas, I learned that shops are the biggest revenue producers in Las Vegas, while gambling ranks second.
The seminar, titled Visual Merchandising from the Non-Traditional Retailer’s Perspective, featured a panel that included Tim Opsomer, director of visual merchandising and store planning for Mirage Resorts, which includes the MGM, Bellagio, New York-New York and Treasure Island hotels. Opsomer said these hotels own and operate 90 shops, each of which must produce at least $1,000 a square foot to stay in business. Logo products make up 26 percent of their shops' product mix and bring in a 62-percent margin, while jewelry and fashion generate margins of 51-percent and 37-percent, respectively. The hotels put logos on hats, note cards, tees and anything else they can find.
It’s easy to see why Las Vegas is fast becoming a shopping mecca with the opening of the new Caesar’s three-story mall, the revitalization of the Fashion Show mall and the infusion of upscale shopping areas in every hotel.
For the last two years, the annual GlobalShop trade show has been staged in the Sands Convention Center. It’s a show that you may want to consider attending, as it's a good source for lighting, props, fixturing, signage and top-rate seminars. The show will be held in Orlando next year, making it easier for those of you on the East Coast to attend.
I was fortunate to walk the three-day show with an outdoor retailer and see what interested him and what he thought he could use in his stores. In the next few issues of Merchandising Know How, I’ll list some “finds” I think could prove useful in your stores. Let’s start with the following:
Mannequins: Ozmannequins has a variety of high-density recyclable plastic mannequins in full-body male and female configurations as well as torsos and flat-back body forms. They are well priced at $50 for a female torso and $90 for a torso with arms. It’s the arms that make these mannequins a find as they attach magnetically. This makes the mannequins very easy to dress and prevents the damage that occurs when trying to attach arms by screwing them in. The company is based in Australia, but the manufacturing is done in the United States. Request a catalog at www.ozmannequins.com.
Sign holders: AlliKlip sign holders provide simple ways to display signs at the point of purchase on tables, shelves or by the cashwrap counter. They consist of a 1-inch weighted base, a telescoping flexible rod and a needle-nose clip on the end. They are available in black and custom colors and are produced by Kostklip Manufacturing Ltd, Port Coquitlam, BC. Call 604-468-7917 or go online at www.kostklip.com
Custom P.O.P.: Foam Visions is a company that manufactures textured foam panels of molded HDU for use in creating window displays, wall or pole coverings and lettering for signs. In other words, you can use this stuff just about any way you want. There’s a wide range of textures including bamboo, brick, river stone, tree bark, natural rock and diamond plate. A couple of panels would make a great backdrop in a display window. I also like the idea of cutting out lettering in one of the textures to sign a department or special area. Foam Visions can be reached at 800-863-8468 or on the web at www.foamvisions.com.
Supplies: I was delighted to find a company named Backgrounds to Basics at GlobalShop. Amid the large, showy booths stood this little 10 x 10 gem that provides everything visual merchandisers needs to do their job, from pins to pliers, gatorfoam to foam tape, plus turntables and toolboxes. Call 800-523-6621 for a catalog or go online to www.backgroundtobasics.com.
I found many more sources to share with you, so keep watching this column in SNEWS® for additional cool stuff from GlobalShop.
Sharon Leicham is the creator of The MerchandisingHUB, the author of "Merchandising Your Way to Success" and "How to Sell to Women" and is a regular columnist for SNEWS® writing on merchandising and marketing topics. You can access all of her columns by going to www.snewsnet.com/merchandising, where you will find tons of information targeted at the needs of the independent specialty retailer. You can email us with questions and comments at email@example.com.
For more retail training support and know-how, be sure to check out the SNEWS® Business 101 tools and stories, including our 10-part Retail Merchandising Training series produced by SNEWS®, including a useful online calculator for performing the most common retail merchandising calculations -- free to All Access Subscribers.