Christian Retailing

Prepare to profit at industry shows Print Email
Written by Sherry Morris   
Wednesday, 05 August 2015 12:54 PM America/New_York

Make use of these important tips for trade show and armchair travelers alike

F-MorrisExperience is often touted as the best teacher. But even experienced trade show attendees can benefit from strategic planning in order to get the most value from going to a show.

The first step for the retailer is to consider potential tangible (orders on the books) and intangible (education, networking and entertainment) results from the show. Once desired results are front of mind, plans can be made to reach for profitable outcomes for the store. Even when attendance isn’t possible, a retailer’s trade show itinerary can be thought through from a desk chair with many of the same results.

Today’s retailer has options. Technology makes it possible to choose whether or not to venture forth as a trade show traveler or to remain in the comfort of a desk chair to explore the world of products. The choice is to travel via planes, trains or automobiles or by computers, tablets or smartphones.

The Trade Show Traveler

As Christian retailers expand gift product mixes to shore up their bottom lines, staying on top of trends and new retailing ideas will become increasingly important. Trade shows and gift market experiences await the retailing adventurer. Hats off to trade show travelers, for they will see much!

Opportunities to see and touch giftware are plentiful at trade shows and markets. Giftware adds retailing pizazz to the store. Besides refreshing core stock, retailers and their customers want to find eye-catching new items each season. There is no place like a trade show or market to gather new product ideas and merchandising inspiration, especially when it comes to gifts.

Many retailers report that they can order what they need in the trade show setting and then just reorder from reps or company websites as stock sells through. As a convenient venue for the busy retailer, trade shows are a win-win road trip for stores and suppliers.

Once the decision has been made to go to the show, experienced trade show travelers plan their time to do the greatest good. Pre-show homework enables retailers to determine what backlist stock might be needed. Budgets can be set for adding new lines. Perusing publications and email advertising gives insights into what new lines need to be checked out firsthand. From these preparations, it’s possible to create a checklist of potential vendors to visit on site.

Prior to most market shows, emails flood inboxes with product features or specials. A simple organizational technique is to place emails of interest into a separate email folder. Also, add a Post-it note to relevant ads in industry publications. To create a “must do” list of appointments and priority stops at the show, simply review your email and publications. A list of “if there’s time” vendors can fill in each day.

Trade shows and gift markets typically provide a floor plan and schedule. A walking route gleaned from a floor plan saves time and energy. With the checklist of vendors, it’s possible to plot an aisle-by-aisle path of preferred or potential new vendors to see.

One tip is to schedule appointments, obtaining desired time slots, with suppliers well before the show or market. “If there’s time” vendors fit into the daily schedule on the way to scheduled appointments or after appointments are finished for the day.

Both the retailer and vendor can prepare to exchange information efficiently during the limited face time available. Vendors will appreciate knowing in advance any specific information retailers need from them. If there is a specific issue of concern, vendors can work ahead to provide a solution. The experienced trade show traveler gives an up-front expectation for the appointment such as seeing only what’s new or buying based on show specials.

Events at trade shows add even more to the list of things to do. Listed in the show schedule are educational, networking or relevant entertainment possibilities. Create a “stuff not to miss” list and review it often. These are important intangibles that add value to show attendance. With so much to see, having a list ensures that your time at the show stays outcome focused. Hats off to trade show travelers, for they will learn much!

Industry events offer essential information about the state of the industry. The International Christian Retail Show and gift market seminars, workshops and general sessions give needed insights into the competition and issues that affect how retailing is effectively done today. With so much to do at the shows, it is easy to relegate these events to “if there’s time,” but show schedules reveal which educational opportunities focus on areas that you should not miss.

Networking is also a significant added value. A good rule to follow is to eat with someone new each day. If the person is not a direct competitor, ask good questions to gain new insights: “What were your best-selling lines this year? If you were giving a tip to a new retailer, what would it be? What was your greatest challenge this year? What do you consider your greatest success? What do you think is the biggest buzz on the floor so far?”

One trade show perk is free entertainment. It is tempting to just head for the hotel room at day’s end, but the trade show traveler might consider this free entertainment as a reward for all the work that goes into each day. Striking up pre-show conversations with others who are doing the same means that networking can continue in a more relaxed setting.

In light of all that such shows have to offer, there is one important thing to keep in mind—the necessity of taking purposeful daily breaks. Experienced trade show travelers schedule a few breaks each day to simply process all that they have seen and heard. Take a little time to think about the tips, strategies and information gleaned from the experience, reflecting on how, where and by whom this information can be applied after the show. Write down, or record via smartphone, the things that need to be relayed to specific employees.

When the show ends, evaluate the preparation, travel and participation related to the show. Were orders placed? Did the budget fare well or need adjusting? Plot ship dates on a calendar to help track when orders will arrive. What new vendors need additional information like credit applications? What needs to be shared with staff, and when can this be calendared? Note how goals were met at the show.

The Armchair Buyer

If a major reason why people attend trade shows is to see new products, then the armchair buyer can find ways to get at least some of the same information while sitting in a comfortable chair back at the store. Some of the advantages of seeing products and meeting people firsthand are lost in that case, but techniques used in preparing for a show can make ordering easier even for those who stay at home.

Just like getting ready for a trade show, the armchair traveler reviews existing stock to determine product needs. Budget planning follows. Next, it’s time to explore new products via email, websites and trade publications. Then, the armchair traveler can place orders based on the information gleaned. Hats off to armchair buyers, for they can surf the Web!

A show floor plan is the armchair traveler’s itinerary-planning guide too. Look for new vendors who exhibit at the show. Send an email inquiry or make a phone, FaceTime, Skype or physical appointment with a sales associate or road rep. The value of interactive technology, like video chat, is the ability to see products in 3-D that previously could only be viewed on a catalog page. Most vendors will be happy to adapt to whatever interaction is needed for retailers to make buying decisions.

The armchair trade show traveler can ask for booth photos from companies that interest them. These display photos can guide both purchasing (buying a collection) and provide inspiration on ways to effectively showcase products.

Emails and ads are available to the armchair traveler too. A priority checklist of new or potential buys is as close as an inbox and the latest edition of Christian Retailing or other publications. List the vendors of interest then cross them off as contacts are made or orders are placed.

For the armchair traveler, podcasts of show seminars, reviews and ads in trade publications, news in e-newsletters and talking with other retailers are alternatives to getting the information that is presented at the show. It is vital to find out business news that will influence future retailing practices. Sales reps, other retailers, trade show staff and others can offer insights and perspectives that might be otherwise missed. It is the best practice to budget some time each week after a show to read industry news or talk with those who were there.

A downside of armchair buying is missing the free entertainment. The upside is that missed entertainment gives retailers an entry point of networking conversation, which just has to happen via email or by phone. Entertainment companies spend big marketing dollars, and the people who attend their events know who and what was creating buzz at the show. It’s a good idea to take advantage of the marketing paid for by the entertainment companies and provide displays and ancillary products that consumers will be looking for at their Christian retail store.

At gift venues, it’s likely retailers will see celebrity chefs, authors, entertainers and others who are showcased by their companies. These might provide national marketing dollars that will fit into a retailer’s plans, conveying values that are consistent with the store’s mission.

Trade show traveler or armchair buyer? Today’s retailer can choose. Focusing on results, either buyer can see much, learn much and order much via their well-planned routes.