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0% payroll tax rate?
President Donald Trump, in a meeting with Republican lawmakers Tuesday on Capitol Hill, pitched a 0% payroll tax rate for employers and employees that would last through the rest of this year.
A press briefing with the White House coronavirus task force is slated for 5:30 p.m. today March 10th. The White House has also invited Wall Street executives to a meeting on March 11th to discuss an economic response to the coronavirus’s impact.
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HKTDC Reschedules April Shows
Considering the impact of COVID-19, the Hong Kong Trade Development Council (
HKTDC
) has adjusted its schedule of exhibitions and conferences as part of a continued endeavour to create business opportunities for various sectors through multiple channels.
We apologise for any inconvenience caused. Further updates will be posted as soon as available. Click
HERE
for further details,
Meanwhile, a number of measures have been implemented at our event venues, including:
- Provision of health protection tips to event participants;
- Provision of masks and hand sanitiser on request at the information counter, fair management office and registration counter at the fairground;
- Setting up sanitiser dispensers at the fairground;
- Regular cleaning of lift panels, escalator handrails, door handles, tables and chairs with diluted bleach;
- Stepping up cleaning and disinfecting work at venue restrooms.
The HKTDC continues to monitor the situation and is communicating closely with Hong Kong’s Centre for Health Protection (CHP). We will take stringent and appropriate measures when new information comes to light or the CHP issues new instructions.
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Upcoming 2020 Gift & Home Markets
- The Inspired Home Show, March 14-17, Chicago, IL - (CANCELLED)
- ASD Market Week, March 22-25, Las Vegas, NV
- New York Tabletop Show, March 31-April 3, New York
- Denver Apparel & Accessory Market, April 5-7
- Denver Apparel & Accessory Market, May 31-June 1
- Rocky Mountain Gift Show and Denver Apparel & Accessory Market, Aug. 28-30
- Denver Apparel and Accessory Market, Oct. 11-13
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Black Monday...
Coronavirus fears and the steepest fall in oil prices since the 1991 Gulf War sent markets into a tailspin, wiping hundreds of billions of dollars from exchanges and prompting analysts to dub it "Black Monday".
Major US indices plunged more than seven percent -- with the Dow Jones finishing more than 2,000 points lower in its worst session since 2008 -- following a 15-minute halt to trading early in the session triggered by a plunge.
Brazil's Sao Paulo exchange also suspended trading briefly, and plummeted more than 12 percent.
European stock markets slumped dramatically, following a downturn in Asia, with indexes in London, Paris and Frankfurt falling by seven percent or more.
Millions of people have seen daily life disrupted by school closures -- with those announced Monday in Greece and Spain -- as well as runs on basic household goods and travel restrictions.
Italy reported 97 more deaths on Monday, bringing its toll to 463 and pushing Europe's total past 500.
Italian officials faced a further headache after prisoners fearful of infection protested or rioted in 23 jails across the country -- leaving several dead.
Sporting events continue to be severely disrupted, with the Indian Wells tournament in California cancelled.
Top-flight football matches across Europe were being played behind closed doors, and international rugby matches have also had several postponements.
US cases surge
There are mounting concerns that the United States -- the world's largest and most connected economy -- could be the next COVID-19 hotspot.
At least 22 people have died in the country and the number of cases has passed 500 as Trump's administration struggled to deal with a virus-hit cruise ship stuck off the California coast.
The Grand Princess docked in Oakland on Monday with 21 confirmed infections among its 3,500 passengers.
The president has been accused of peddling misinformation on the outbreak, but he hit back on Sunday, accusing the media of trying to make his government "look bad", tweeting that the White House had a "perfectly coordinated and fine tuned plan".
Spread slowing in China.
Some forecasters are painting a doom-laden picture for the global economy, and several central banks have already intervened to prop up faltering economies.
The International Monetary Fund called on governments worldwide to join forces and roll out aggressive financial supports, including direct payments to workers and businesses.
European Union leaders will hold an emergency videoconference on Tuesday aimed at coordinating their response to the outbreak.
But there were signs that the peak may have been reached in both China and South Korea.
China said it had closed most of the makeshift hospitals opened to receive coronavirus patients in the epidemic's epicentre around Wuhan, as the number of new infections in the country hit a record low.
There were 40 new cases nationwide, the lowest number of fresh cases since it started reporting the data in January. China has seen almost 75 percent of the global coronavirus cases.
The WHO reported that 70 percent of the people infected with the virus in China had recovered.
South Korea, which has one of the largest coronavirus totals outside China, reported its smallest daily rise in cases for two weeks.
However, Iran announced 43 new deaths on Monday, bringing its toll to 237, and supreme leader Ayatollah Ali Khamenei cancelled an annual speech marking the start of the Persian new year.
Israel announced a two-week quarantine for all travelers entering the country.
India meanwhile announced a ban on foreign cruise ships entering its ports.
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COVID-19 Updates and Continuing Business
Dallas Market Center is committed to the health and safety of all customers and staff. In response to the COVID-19 Coronavirus, we are taking extra steps to safeguard the marketplace, exhibitors and guests. We are also actively monitoring the situation and following local and national guidelines.
First and foremost, we want to assure you that business continues as scheduled including open-daily business, March Markets (March 24-27), and Dallas Design Week (April 14-17), as well as private buys and organization meetings. Customers who wish to enter our marketplace and who are not subject to travel restrictions will be free to do so. While we remain open for business as usual, please join us in following the latest news and guidelines through official channels:
www.cdc.gov
and
www.who.intl
.
We are monitoring the situation closely, including the cancellation of industry trade events in areas affected by the outbreak. In response, we are working with select retailers and buying groups with meeting requests similar to our support efforts during the SARS outbreak in 2003.
We are also taking extra measures on-site including the following:
- Active cleaning of in-bound shipments via trucks;
- Additional training to Housekeeping staff and extra cleaning efforts for vulnerable surfaces including doors, handrails, elevators, and restrooms;
- Close monitoring of all 90 hand-sanitizing stations;
- Deployment of additional hand-sanitizing stations at all registration desks.
Thank you for your cooperation as we continue to monitor a serious situation that is changing rapidly.
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Buying American: Several Sources to Check Out
Made in America items are more popular than ever these days, especially when issues such as the coronavirus outbreak creep up and send the giftware industry into a tailspin. So where can gift store buyers find made in America items to sell in their stores? Here are a few suggestions:
FGmarket is a retailer's direct connection to thousands of gift, supply and floral wholesalers. Founded in 2003, FGmarket emerged as an online tradeshow for wholesalers and suppliers across the country. The idea was to give those who independently own retail stores and unique boutiques a way to connect with suppliers and wholesalers that meet their needs.
Wholesale Central is strictly business to business. No consumer sales. No retail sales. Wholesale only.
Wholesale Central is a B2B directory that helps wholesale buyers find wholesale suppliers and products. When you find a supplier, please follow the link to the supplier's website, where you can do business with them directly.
The vendors listed on this site may make all their products in the USA or may assemble the products in the USA. This website is part of a family of online portals linking to wholesale vendors where retail stores can view home decor products and order inventory.
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Coronavirus Continues to Impact Industry
Dan Loughman, president of
Roman
– a leading manufacturer and distributor of award-winning inspirational and Christmas-themed items – said the coronavirus outbreak is going to continue to cause extensive problems for companies in many industries and has caused some issues for Roman.
“Part of China's shutdown was during the regular Chinese New Year when most factories and offices closed, so that's lost time that would have occurred anyway,” he shared. “With the delay in getting workers back to the factories, that downtime is now extended indefinitely. For the industry, that means that production on product is not underway. If production was complete or nearly complete before Chinese New Year, there's no truck to get it to the port. There's no crew to get it from the port on a boat. There's no boat to get it to the USA. Whatever delivery dates that were provided at the January shows are out the window. No one knows what goods will be available for any customer for a few more weeks or even months.”
He added that Roman did manage to get several containers in or on the water before the shutdown, so that product, plus whatever was already stored in Roman's warehouse, is what the company will be able to supply for the first half of the year. For the balance of the year, goods will begin to trickle in as production slowly starts back up.
“There will most likely be items we simply won’t produce, sacrificing their space at the factory for the most important items,” Loughman added. “When factories start working again, they will have to look at all of the purchase orders from all of the U.S. vendors and decide which to make first, which to make later and which to not make at all. Vendors need to be careful with the product they do get. A lot of retailers with no history or loyalty to the vendor will be calling looking for product,” he continued. “Logistics will be a large hurdle when things start moving again. Everyone’s going to need trucks and containers in every industry. So the gift industry vendors will be competing with Nike, Apple and much larger companies for space. That will cause additional delays and added expense.”
Retailers will also face additional problems obtaining product.
“They need to early and order big,” Loughman suggested. “They should take delivery as soon as possible on anything, regardless if it's garden for now, or Christmas for later. Different vendors have different policies and systems to allocate inventory, if they even have one. Getting a Christmas item in April is better than hoping you’ll get one in September,” he continued. “Most vendors provide December dating, so it’s a storage burden, not a financial burden on the retailer. Smaller retailers that wait for summer to place a Christmas order won’t get anything. Larger retailers that placed orders in January will get product, but most likely won’t get all of the items, and might not be able to reorder anything. It is still early, and the situation can change for the better, but there is still a lot of uncertainty.”
In this webinar, John Toler of Evergreen Enterprises and Jimmy Fang of C&F Enterprises reveal their thoughts on the four potential impact areas the coronavirus will have on the gift, garden and home supply chain. The impact on factories and upcoming trade shows is still fluid, and Toler and Fang share what they have learned since the Chinese New Year ended and factories have restarted or attempted to restart.
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Giftware News will feature a series of profiles on businesses that offer American-made products. First up is FarmHouse Fresh.
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Made in America: Feeling Groovy With FarmHouse Fresh
Based in McKinney, Texas, FarmHouse Fresh offers a variety of products that pamper one's skin and soul.
Founder and president Shannon McLinden said her company is a spa treatment line at heart, and the collection has been tested tens of thousands of times by internal estheticians, massage therapists and spa guests – in hotels, spas and resorts from Dallas to Dubai – who have enjoyed delicious farm-to-table spa facials, body wraps, massages and more.
As natural/vegan/organic products continue to grow in popularity, people seek out companies like FarmHouse Fresh. “We've seen trends toward the immediate gratification of results-oriented skincare that utilizes peptides and actives,” McLinden shared. “We follow our customer’s desires. So we offer an array of options, and we are always listening. Our fresh ingredients and formulas have an immediate effect on skin,” she continued. “We have whipped peptide body mousse, plumping body oils, richly textured face masks that deliver fast radiant results – [with ingredients] from organic pumpkin puree and banana puree to avocado butter – and everything is made in the U.S.A., with many ingredients grown ourselves, or sourced through local farm families.”
Some of the company's best-selling items include rich shea butters for hands and body, whipped “Moon Dip®” body mousses, food-based face masks, triple milled frothing shea butter bar soaps, lip polishes with juicy local farm ingredients like Blackberry-Wine, farm basket gift sets with a sampling of favorites, and a hemp collection with CBD that includes whipped mousse, body oil, facial serums, and bath fizzers with surprise “total swellness” fortunes inside. The company will also feature a new range of products from Watermelonaid this summer, including a watermelon & CBD silky gelee serum and Blissed Moon Dip, a new watermelon-basil scented peptide whip infused with U.S. grown watermelon extract.
FarmHouse Fresh began 16 years ago when McLinden began formulating a range of scrubs to keep her heels from cracking.
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“I was a runner, and when your feet go from hot to cold, you get cracked heels,” she shared. “My first sea salt scrubs (Sweet Cream, Whipped Honey, and Early Apple) were selected by Oprah for her O List. She loved the scent of our Sweet Cream Scrub and so I made a lotion in that scent, and then suddenly I received a thank you note from Courtney Cox. The successes kept flowing in,” she continued. “Today we grow many of our own extracts from our hilltop ranch in McKinney, Texas – including microgreens like organic kale and watercress, to heirloom organic cucumber. Our skincare products deliver high-nutrition in delicious scents and textures. We stock over 4,000 accounts, including retail boutiques and luxury spas, hotels and resorts, with an offering of over 200 products across facial, body care, fragrance and gifts.”
The company has a strong mission focus – upwards of upwards of 10% of profits go directly toward the rescue and rehabilitation of abused and neglected farm animals. Many such animals come to recover and live at the company's Farm Animal Sanctuary, located at the headquarters ranch.
“Our ranch was just featured in People Magazine for our combined effort of growing sustainable holistic skincare that also saves animals,” McLinden added (additionally, some of the products have names like 'Fluffy Bunny' and the majority carry PETA Cruelty-Free logos). “It’s incredibly rewarding to know every purchase of a FarmHouse Fresh product does even more than its intended personal use – it literally changes an animal’s life.”
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Coronavirus:
IHA Cancels Show
After careful consideration regarding the ongoing spread of Covid-19 (Coronavirus) overseas and recent cases in the United States, the International Housewares Association’s Board of Directors has decided not to hold The Inspired Home Show 2020, scheduled to take place March 14-17, 2020 at McCormick Place in Chicago.
“For the last several weeks, we have been watching this situation very carefully, with our primary concern being the safety and well-being of the home + housewares industry,” said Derek Miller, IHA president. “The IHA Board of Directors made this decision after consulting with industry constituents including exhibitors and retailers. In the end, the global nature of our event, combined with the worldwide concern regarding the coronavirus outbreak and ongoing travel restrictions make it impossible for us to hold The Inspired Home Show next week.”
The IHA Board of Directors and IHA staff will be working together over the next several weeks to measure the financial impact on the industry and the Association. Once an analysis is complete, additional information regarding exhibitor refunds will be made available.
IHA had previously announced that the International Sourcing Expo, which primarily houses Chinese-based suppliers, would not open in 2020 due to the restrictions on travel between China and the United States.
The Inspired Home Show 2021 will be held March 13-16 at Chicago’s McCormick Place Complex.
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Introducing the Zoku®
Kids Pocket Utensil Set - A Little Lunchtime Innovation
The new Zoku
®
Kids Pocket Utensil Set is easy to use and even easier to clean. It includes three neatly nesting utensils – a spoon, fork and knife – all made of durable 18/8 stainless steel. The utensils store snugly inside a slim sanitary travel case that is cute and kid-friendly.
Made to fit easily in a backpack or lunchbox, the Kids Pocket Utensil Set comes in fun designs featuring whimsical animal faces — shark, pig and cat. The colorful cases are leakproof, lightweight and compact.
Kids will love the look, and parents will love the practicality. The desire to replace single-use plastics with more eco-friendly choices is another reason to buy.
The entire set is dishwasher safe. Kids can put their soiled utensils back in the case after eating, and then the whole set can be washed when they get home. This keeps backpacks and lunchboxes free of any food debris.
The Zoku Kids Pocket Utensil Set is BPA and Phthalate free and comes in pink, blue and mint. It will be available for shipment June 2020, with a suggested retail price of $15.99.
Zoku’s line of innovative products includes drinkware, frozen treats, cocktail ice and food-to-go.
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