Well, it's that time of year again, the wholesale jewelry and gift shows for 2009 are underway! Is it just me or did 2008 go by exceptionally fast? It seems as though we just started preparing for the new season and now it's here. Our wholesale show preparations are finished, new handmade earrings and bracelets are ready to go!
For Buyers the preparations are just beginning. Here are some tips for getting the most out of your buying season:
1. Review your sales records for last year. This will give you a good idea of what sells and what hasn't sold well in your area. Sometimes this review will surprise you.
2. Eliminate slow sellers, discount them and sell through remaining stock to make room for new products.
3. Go through the buyers guides for the wholesale jewelry and gift shows that you will be attending. Mark your suppliers booths on the show map to ensure you place your orders with your existing suppliers. Some shows have expanded recently, the CGTA show in Toronto for example, alot of your suppliers have moved into larger booths because of the expansion of the Toronto Congress Centre, make sure you know where they are so you don't miss out on seeing their new products for 2009.
4. Make a budget and stick to it! Make allowances for new products from existing suppliers and well as new suppliers' minimum order requirements. Leave yourself room for some last minute additions.
5. Research new products online. Go through the buyers' guide and visit the websites of suppliers you are interested in. You can find out about their products and services, minimum orders, shipping costs, etc. without walking that extra mile to see their booth.
6. Make a list of questions for suppliers. During the hustle and bustle of shows important questions sometimes get overlooked.
7. Take advantage of "Show Specials". Many suppliers will offer free shipping or free point of purchase displays. Displays, especially for handmade jewelry, will greatly increase your sales. Most of our customers who have taken advantage of our jewelry display packages have seen significant increases in sales of our handcrafted jewelry, some 200-300% increases.
8. Make sure to offer your customers a variety of unique gift ideas. Focus on your best selling price points, but also offer some high-end as well as low-end alternatives.
9. Keep in mind your customers! If you are a local retailer you will want to freshen up your existing lines for your existing customer base. If you are in a resort or tourist centre you can stick will proven sellers as your customers are always changing.
10. Wear comfortable shoes!
Making the right preparations will ensure your buying success. Research is key, these days everyone is online and trying to provide you all the information you need to make the correct buying decisions for your stores. We hope these tips will help you with your Wholesale Jewelry and Gift Show preparations.
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