NEWSLETTERS - TRIB Group buys $23.7 million at tradeshow; smokes previous record by 30 percent

TRIB Group buys $23.7 million at tradeshow; smokes previous record by 30 percent

TRIB Group officials this week were ecstatic to learn actual purchase orders from last week's “Silver at the Summit” tradeshow exceeded initial estimates and in fact broke all previous single-show buying records for the group and possibly the rent-to-own industry as a whole. 

Buying frenzy at TRIB's recent "Hotshow" in Dallas.

Around 100 participating TRIB members purchased a whopping $23.7 million in products and services during the two-day Dallas tradeshow March 17-19. That number exceeded an initial estimate of $15 million and easily surpassed TRIB Group’s previous buying show record of $18 million in 2005.

"This was the largest output by any buying organization of independent dealers in the history of RTO," said TRIB President Ernie Lewallen. "The record we set was heads and shoulders above the previous one and marks a change in the way people will view a TRIB Group convention and buying show."

By comparison, APRO's 2007 buying show total -- which was a record for the trade group -- was $18.7 million. Buying show totals for RentDirect -- the rent-to-own division of Nationwide Marketing Group -- were not available at press time, according to RentDirect Nationwide Executive Director James McAlpine. Buying totals for RTO dealers at NMG are not tallied independently, he said.

TRIB members racked up $3.6 million of the group's record breaking total during a one and a half hour buying bonanza known as the TRIB "Hotshow" the night before the official buying floor actually opened. That show was also a record breaker.

TRIB broke its previous buying show record by almost $6 million this year.  The “Silver at the Summit” tradeshow -- named for TRIB's 25th anniversary this year -- was the first in which TRIB and strategic partner AVB Brand Source co-located their respective tradeshows under one roof. An estimated 2,800 attended the show, according to AVB officials.

However, TRIB Executive Director Dennis Shields said the success of the show had more to do with moving the date from May to March and the fact the 80 RTO vendors present came to do business.

"I wouldn't downplay it (co-location)," Shields said. "But it was more the timing of the year and the fact the vendors came in with super super great deals. That’s an increase of over 30 percent from our last buying show record and it’s evidence of a very successful convention and a very hectic two days.”

The TRIB Group will now turn its attention to planning for its “Meeting of the Minds” workshop October 22-23 in Atlanta, Georgia. The event is an annual members-only forum discussion of RTO related issues.

For more information, e-mail Dennis Shields or call 770/451-4302.

Click here to see the APRO photo gallery of the "Silver at the Summit" tradeshow.

Click here to watch a video interview with AVB CEO Bob Lawrence, Lewallen, and new TRIB member Brownie Calvin.

mevans@rtohq.org