Friday, February 15, 2008 CebuX '08 to get less exhibitors
DUE to the dismal state of the Philippine export sector, the organizer of the Cebu International Furniture and Furnishings Exhibition (Cebu X) 2008 expect participation among exhibitors to drop by 17 percent.
The Cebu Furniture Industries Foundation Inc. (CFIF), the organizer of the event made this announcement last Wednesday in a press conference at the CFIF office in North Road Jagobiao, Mandaue City.
Laurie Boquiren, member of the board of trustees of CFIF, said the organization anticipates a decrease in the number of furniture exhibitors to 83 this year, compared to the nearly 100 participants in 2007 as the export sector is suffering a setback due to the strengthening of the peso against the dollar.
“With the lean times, exporters are stretching their peso. We understand that they don’t have enough cash for marketing and promotions,” she said.
But lean times, Boquiren stressed, are deemed as best opportunities for industry players to beef up marketing strategies and become pro-active in promoting their products because of the presence of potential international clients.
Recognizing the need to support the local industry, CFIF will introduce in this year’s Cebu X different financing schemes for exporters who cannot afford to join the exhibition, Boquiren said.
She also noted the participation in this year’s event of two of the biggest furniture players in Cebu — Dedon and Maitland Smith.
CFIF executive director Ruby Salutan said the organization has been aggressively promoting Cebu X in their website to entice more participants and buyers abroad.
Cebu X vice chairperson Allan Murillo said because of CFIF’s “user-friendly” website, pre-registered buyers have reached 579, which is more than double the figure last year.
“We now have a pro-active online market,” he said.
Citing official records, Boquiren said actual sales generated during last year’s Cebu X reached $15 million for the entire four-day show.
Revenues
This year, she said CFIF is targeting total sales revenues from the show to grow since Cebu X 2008, scheduled on March 6 to 9 at the Waterfront Cebu City Hotel and Casino, is positioned to be part of the Asian circuit of international furniture shows.
Boquiren said 15 furniture shows all over Asia are happening in the span of one and a half months.
Prior to the Cebu X 2008, furniture shows are also scheduled in Malaysia, Indonesia and in Metro Manila. Following the event here are more shows in Singapore.
“Our advantage is that, other than the show, Cebu offers them the leisure part, like the beaches,” Boquiren said.
Meanwhile, CFIF president Eric Casas said with the softening of the US market, which caused demand for Philippine furniture exports to decline, CFIF members are now shifting to other markets like Russia, Spain, Italy and Dubai, which are constantly on the look out for high-end furniture items. The Cebu furniture industry is eyeing to make these markets as its niche.
With the presence of alternative markets, Casas remains optimistic that the Cebu furniture industry will remain upbeat vis a vis other problems that cripple the sector, like the peso’s appreciation, which had resulted in the closure of several companies.
“Once furniture players (are able to) fully penetrate high-end markets other than the US, then everyone will be back in the game,” he said. (MMM)
