Business for a Better World: International Housewares Association
International Housewares Association, The Home Authority
6400 Shafer Ct., Suite 650, Rosemont, IL 60018
(847) 292-4200
www.housewares.org or https://www.theinspiredhomeshow.com/
Industry: Housewares industry, manufacturing, home & lifestyle, consumer products.
Number of employees: 32
An interview with Derek Miller, president and CEO, International Housewares Association.
Q: Describe your company / organization.
A: The International Housewares Association is committed to maximizing the success of the home and housewares products industry. IHA provides the world-class marketplace, The Inspired Home Show, as well as facilitation of global commerce, executive-level member share groups and conferences, a wide range of international business development tools, housewares industry market data and information services, facilitation of industry standards and more.
The Inspired Home Show is the largest annual trade event at Chicago's McCormick Place Complex and has a $77 million economic impact on the city by bringing 50,000 visitors from around the globe to the Chicago area.
As The Home Authority, IHA identifies opportunities, challenges and changes impacting the global home and housewares industry and develops products and services that help members succeed within it and adjust to its evolving market conditions.
Q: What will your main challenges be in the next year?
A: The home and housewares industry was in a growth mode for seven years. During the pandemic, 2020-2022 broke all records, selling 10 years' worth of product in two years. Now that the pandemic is subsiding and consumers are returning to activities and experiences outside of the home, the home and housewares industry is forecast to have four quarters of decreased sales, in both dollars and units, compared to the last two years. This is going to be a shock to companies and shareholders who have seen more than five straight years of growth and who just saw two years of record increases.
The swing from no inventory to too much inventory adds another dimension. Retailers can now get product from just about any supplier, and consumer demand overall is lower — and therefore their purchases are more considered or deliberate. So retailers are going to be laser-focused on sourcing home and housewares products that are going to be prioritized by the consumer.
Q: What's the hottest trend in your industry?
A: Entertaining at home is back. As economic concerns begin to dominate the news cycle and consumers feel the pinch of inflation, they are responding by bringing more experiential activities back into their homes. During the height of the pandemic consumers were overwhelmingly cooking and eating at home, and the current re-emergence of gatherings and in-person celebrations means that consumers are doing more at-home entertaining as well. While much of the home and housewares buying during the pandemic was for personal and family use, it is now shifting to things that are meant to be seen and shared at gatherings with all manner of loved ones.
Successful at-home entertaining requires not only items that help prep fantastic and often creative dishes, from cook and bakeware to kitchen electrics and gadgets, but also things that enhance presentation of the home and the meal, including tableware, glassware and barware and bar accessories, textiles and decor — and don't forget all of the outdoor living products that help consumers throw a great backyard BBQ or summer soiree.
Q: Is your company minority-owned or minority-focused? Woman-owned or focused? If so, what are the challenges you face?
A: The International Housewares Association is a not-for-profit trade association for the home and housewares industry. The association reports to a board of directors and is operated by a staff that reports to the president of the association.
Q: Does your company donate time or money to any philanthropic causes?
A: The International Housewares Association provides administrative support to the Housewares Charity Foundation, which was founded in 1997 in a collaborative effort among industry manufacturers, retailers and allied industry partners to “give back and pay it forward” to the very people we market products to every day. The nonprofit HCF believes the home is our heart and its core mission is to gather the vendor community in contributing and building strong values. The HCF hosts an annual charitable dinner during The Inspired Home Show with the goal of raising funds for charities, uniting the industry and honoring its leaders.
Since the first gala in 1998, HCF has raised more than $51 million and has been credited with donating more than $30 million to the Breast Cancer Research Foundation, its legacy charity. Since 2000, HCF has funded 120 BCRF research projects. In addition to breast cancer research, HCF has contributed to other great causes including pediatric cancer, Crohn's and Colitis Foundation, Alzheimer's, Habitat for Humanity International, The HCF September 11th Relief Fund, St. Jude's Children's Research Hospital, MS research, God's Love We Deliver and No Kid Hungry.
Q: Please describe what your company does to make your community better?
A: IHA is committed to maximizing the success of the home and housewares products industry. Our world-class marketplace, The Inspired Home Show held every March at Chicago's McCormick Place, brings together retail buyers and housewares suppliers to access new brands and products that fulfill consumers' wants and needs.
We also help our members facilitate global commerce and provide the industry with exclusive trends research, market data and information services. IHA also provides the industry with virtual events offering product demonstrations, educational content and one-on-one supplier/retailer meetings.
Q: What is one interesting fact about your organization that most people may not know?
A: IHA has held a housewares show in Chicago every year since its first show in 1939, with two shows held every year until 1992, when it became an annual event. The show went on in January 1967 when McCormick Place burned down the night before the show opened, with exhibitors using hotel rooms to display their product. In 2020 after 119 shows, The Inspired Home Show was the first trade event to cancel at McCormick Place because of the COVID pandemic and the first trade event to return in 2022.
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International Housewares Association, The Home Authority
6400 Shafer Ct., Suite 650, Rosemont, IL 60018
(847) 292-4200
www.housewares.org or https://www.theinspiredhomeshow.com/
Industry: Housewares industry, manufacturing, home & lifestyle, consumer products.
Number of employees: 32