◆ Pick up some trade magazines.
Copies of various trade magazines are handed out free at the shows and this is an opportunity to read a different publication, to see if it is worth taking out a subscription.
The Trader, a monthly magazine full of advertisements for stock for small shops and market traders is definitely worth picking up. This is a useful magazine to use throughout the year when you are looking to source new suppliers or new product lines.
◆ Make a holiday of it.
In retail you get little enough time off so make an event of your business trips and enjoy them. Accommodation guides can be obtained from the local tourist information offices.
NEC: when visiting Birmingham, I sometimes stay in Leamington Spa or Warwick, but generally opt for Stratford-upon-Avon. This is a very picturesque town with a wide choice of accommodation and restaurants and easy access to the exhibition centre.
There is a park by the river and in September, after a long day at the Autumn Fair, it is lovely to wander through whilst deciding where to eat that night. Stratford-upon-Avon has so many B&Bs that I never book ahead; just turn up in Evesham Place to see where the vacancies are. This is a short walk from the town centre where there are many wine bars and restaurants, particularly in Sheep Street. All can be recommended and a couple of favourites are Sorrento, an Italian restaurant in Ely Street and the Indian restaurant in Chapel Street.
Harrogate: when visiting the Harrogate Gift Fair it is vital to book accommodation in advance if you want to stay in the town itself. Again there is an excellent choice of accommodation and places to eat.
London trade shows: I have found good value accommodation at the hotels in Sussex Gardens, just off Bayswater.The rooms are very small but perfectly functional and close to the underground station.
петък, 29 януари 2010 г.
сряда, 27 януари 2010 г.
Spotting a trend
Before attending a show it is useful to check out your competition to see what they have in stock and what their customers are buying. Is something on the wane or on the up? Speak to your own customers and find out if there are things they want to buy that you do not have in stock. These are things that should be done on a regular basis throughout the year.
Once you arrive at a show, look out for stands that are busy, with plenty of people milling around, lots of staff writing out orders and other people clearly waiting to place orders.
Once you arrive at a show, look out for stands that are busy, with plenty of people milling around, lots of staff writing out orders and other people clearly waiting to place orders.
понеделник, 25 януари 2010 г.
In fashion, but should I buy it?
Just because there is a demand for it, is it something that will fit into your shop? Petrol sells in large quantities but would anyone think to go to a gift shop to buy a litre of petrol?
Ty’s Beanie Babies – small soft toys (‘plush’ to the trade) in the shape of various animals – were in huge demand around the time of the millennium. The trade stands were the size of a tennis court and you could not see the stock for the crowds of people, but there was nothing New Age about them and they would not have fitted into my shops, so I did not buy them.
Beware of getting onto the tail end of a craze or fad. At one time trade stands selling New Age music were really buzzing – the following year they were quiet. A few years later it was balls of bath salts which fizzed up when dropped in the bath, but sales are now very flat.
If a product is on the trade stands of various wholesalers, but is something you sold several years ago and now no longer do, consider re-stocking it. Everything comes around again eventually and now may be the time.
Equally, if you have been selling something for several years, do not keep stocking it out of habit. If figures are down:
◆ relocate it;
◆ ‘freshen’ the display stand, perhaps with new designs of the same line;
◆ or get rid of it.
Ty’s Beanie Babies – small soft toys (‘plush’ to the trade) in the shape of various animals – were in huge demand around the time of the millennium. The trade stands were the size of a tennis court and you could not see the stock for the crowds of people, but there was nothing New Age about them and they would not have fitted into my shops, so I did not buy them.
Beware of getting onto the tail end of a craze or fad. At one time trade stands selling New Age music were really buzzing – the following year they were quiet. A few years later it was balls of bath salts which fizzed up when dropped in the bath, but sales are now very flat.
If a product is on the trade stands of various wholesalers, but is something you sold several years ago and now no longer do, consider re-stocking it. Everything comes around again eventually and now may be the time.
Equally, if you have been selling something for several years, do not keep stocking it out of habit. If figures are down:
◆ relocate it;
◆ ‘freshen’ the display stand, perhaps with new designs of the same line;
◆ or get rid of it.
събота, 23 януари 2010 г.
Finding a range
Look for a supplier that can supply you with a range of items. If you see one figurine that you like, you will need to like at least another two or three in the range to make an eye-catching display. One will look lost.
четвъртък, 21 януари 2010 г.
Payment and delivery times
A few companies selling small items such as jewellery will allow you to choose ‘one-off ’ pieces, pay for them and take them away with you, but generally all orders are for delivery. You will not be required to pay a deposit at the time of ordering but as a new customer you will generally receive a pro forma invoice (Latin for ‘as a matter of form’), which in business means an invoice provided in advance of the actual transaction. Once this has been paid, the company will dispatch the goods to you.
Check at the time of ordering if the goods are in stock and available for instant delivery or if there will be a long lead time which may not suit you. Some wholesalers bring samples to the trade show, decide which lines have been popular, then fly out to the Far East to place orders with the manufacturers of those items. With a lead-time for the manufacture, six weeks’ shipping from the Far East, an allowance for the clearing of customs, and finally unpacking the container at the wholesaler’s warehouse, it will be at least three months before you receive your order.
Beware of companies operating from a non-UK address. Sometimes this is a speculative foray into the UK market. If sufficient orders are not taken, they may decide not to deliver. They do not tell you this and the money you have allocated for the order could have been spent on something else. This is why you should never pay at the time of ordering. Always wait for the pro forma invoice and details of delivery dates.
I have often found such companies incredibly slow to deliver. Either way, I could have spent the money on something else and made a profit before I hear from the non-UK supplier.
Check at the time of ordering if the goods are in stock and available for instant delivery or if there will be a long lead time which may not suit you. Some wholesalers bring samples to the trade show, decide which lines have been popular, then fly out to the Far East to place orders with the manufacturers of those items. With a lead-time for the manufacture, six weeks’ shipping from the Far East, an allowance for the clearing of customs, and finally unpacking the container at the wholesaler’s warehouse, it will be at least three months before you receive your order.
Beware of companies operating from a non-UK address. Sometimes this is a speculative foray into the UK market. If sufficient orders are not taken, they may decide not to deliver. They do not tell you this and the money you have allocated for the order could have been spent on something else. This is why you should never pay at the time of ordering. Always wait for the pro forma invoice and details of delivery dates.
I have often found such companies incredibly slow to deliver. Either way, I could have spent the money on something else and made a profit before I hear from the non-UK supplier.
вторник, 19 януари 2010 г.
How much to order
Look for companies where you can do small minimum orders, ideally no more than £200 carriage paid. The lower the price of the goods and the smaller the range of products, the lower this figure should be. Beware of companies where everything has to be bought by the dozen or more.
If you struggle to do an initial order, you will definitely struggle to re-order. Never buy anything because you are desperate to make up the numbers. If the item does not jump out and say, ‘buy me’, it will not speak to your customers reither and you will end up selling it at a loss to get rid of it.
If you struggle to do an initial order, you will definitely struggle to re-order. Never buy anything because you are desperate to make up the numbers. If the item does not jump out and say, ‘buy me’, it will not speak to your customers reither and you will end up selling it at a loss to get rid of it.
неделя, 17 януари 2010 г.
The best sellers
There is no point being told that everything sells well because there are always some items that sell faster than others. 80% of your sales will come from 20% of your stock so do not believe anyone who will only say, ‘They all sell well’.
When buying a new range, ask the sales rep about any offers that are available. Often if you buy the full range of a specific product, you will be entitled to a free display stand, spinner or even a glass cabinet at a reduced cost.
When buying a new range, ask the sales rep about any offers that are available. Often if you buy the full range of a specific product, you will be entitled to a free display stand, spinner or even a glass cabinet at a reduced cost.