It was a record-breaking year in attendance at the International Builders’ Show (IBS) in Las Vegas. The show captured its largest attendance in 10 years and had the convention center halls filled with 70,000 professionals and 1,300 exhibitors.
Based on the record number of attendees this year, we can speculate where our first trend is headed. Keep reading to see what Team True saw at #IBS2023:
1. The Future of the #BuildingIndustry is Strong
It was an exciting week as exhibitors and attendees gathered in Vegas for IBS for the first time since 2020, and you could feel the energy radiating from the show floor. Companies and building professionals alike were ready to get back into the swing of things despite any uncertainty about how this year would play out. Judging from the attendance this year and the conversations on the show floor, the outlook for the industry is strong and products are in demand.
However, it seems that manufacturers were cautiously optimistic about how this year would go economically. The team noticed repetitive giveaways, designs, and promotions from previous years. As a result, the introduction of new products was limited.
2. Brands are Getting Creative with Current Products
We saw companies finding new ways to reuse current products or launching extensions of their brand instead of introducing new products at the show. For example, new product colors to extend an existing line, alternative uses and sizes for current products, and updates on brand programs. The lack of new products is likely due to how hard it’s been for the building materials industry to acquire raw materials over the last two years and is a representation of the concern over the looming economic downturn and ongoing supply chain issues. However, despite the lack of new products, and some missing companies, we believe the industry is taking a breather before starting its next sprint.
3. Professionals are Ready for Product Now
While working at our client's booths, we noticed actionable conversations among attendees and exhibitors. They weren’t just kicking tires; they were ready to buy.
The questions professionals asked reflected how busy the trades are. They are looking for unique products and want to know where they can buy them and how soon they will deliver – they are ready for the product now.
4. We're Welcoming Back a #WarmPalette for the Home
Amongst the sea of people, booths, products, and branding materials a common trend emerged – the use of warm colors. From the inside of your home to your outdoor living space, the shift towards warm accents and features was clear. We’re used to seeing dark wood, siding, and accents in our homes, but as we move into 2023, spaces will brighten up. We’ll see more neutral tones with less saturation and simpler earthy palettes used for home decor and fabrics. The warm neutral colors are seen as a great complement to the dark paints, like the greens and dark grays, that have been trending over the years. Homeowners want to accent their bold and playful colors with warm tones and features to tie the space together. Companies will be looking to provide that balance between light and bold colors.
The booths that stood out and attracted the most attention were the ones that provided an interactive experience for the attendees. Whether it's live music, cocktail bars, building demonstrations, or speakers, booths that went the extra mile were rewarded with engaged visitors.
Next year, we expect to see this continue, as well as the use of technology to create virtual experiences that walk attendees through the product. The use of more technology at the booths to advance the experience and make it more interactive will be a popular concept. People want more hands-on interactions that represent the product in real -life scenarios. Overall, IBS 2023 was a positive representation of where the industry is headed, and next year, companies will be back with more.
Along with a milestone of a show for the National Association of Home Builders, this year’s show marked a 25-year milestone in attendance for True’s Founder and CVO, Chris Baldwin. We celebrated this milestone by bringing out eight members of our team to support clients on the floor and stay on top of upcoming trends in the industry.
Did you exhibit at the 2023 Builders’ Show? Don’t leave your leads behind. Check out our blog post on Trade Show Follow Up to make sure your company is taking full advantage of the time between this year's show and next.
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