Putting Your Buying Strategy To Work at Trade Shows

By Ali Cudby

The trade shows are around the corner, so let’s take your plan and put it to work for your business.

Before the Show

First, following your Open to Buy, you should have your plan laid out for the next 6 months. This will give you a sense of how your money will be broken down, month by month, across the major classifications.

Classifications include such areas as:

• Bras
• Bottoms
• Sleep/lounge
• Shapewear
• Hosiery
• Swim
• Accessories

Your classifications will vary according to your store’s customer base.

Next, examine sales from last fall/winter to examine patterns and ask yourself the following questions:

• How did you perform by vendor?
• What performed and what didn’t?
• What products are emerging for your customers? Which are deflating?
• Have there been any unexpected events – either positive or negative – in your store?
• What about outside store? New competition, construction in your area or even political shifts in the community can affect your business.

Finally, reexamine your plan against the reality of your current business. Have there been any changes since you compiled your 6-month plan? Should you make adjustments in your buying plan based on immediate past sales?

At the Show

When you first arrive, walk the floor and see what catches your eye. What are the visual stories that leap out at you? Are there any new vendors that grab your attention? Make a note to drop by when you have time in your schedule.

You’ll have made appointments with your key vendors. Give yourself enough time to take it all in and ask questions.

Decide in advance whether or not you’re going to write orders at the show. Ellen Lewis adheres to the philosophy that you shouldn’t ever write at the show. Others write some key orders at the show, when your sole job is to focus on new product. Buying for a specialty boutique means it can be a rare opportunity to focus on any single task.

When considering new, smaller vendors, ask the tough questions so you can be confident that they’ll be able to deliver on schedule. What’s the company’s history?

What infrastructure do they have in place for production and delivery?

Deciding to include a new vendor goes beyond what’s pretty, you need to understand the business behind the garments. You have a business to run and no product is worth risking your cash flow for a brand that won’t come through.

After the Show

Once you get home, take time to think through what you saw at the show. You’re going to build a merchandising plan, and it can be like putting together a jigsaw puzzle.

Before considering fashion, map out your basics, so you have the replenishment stock you need.

Then think through the color flow, merchandising flow and promotions you’re planning. Map that against the vendors who will be providing the fashion pieces you need. Vendors are not just a source of product, they’re your partners. Who will help you build your business?

Finally, leave money to test something new to delight your customers.