Top 10 Trade Show Tactics

The best retailers meticulously plan their market trips ahead of time. They make every moment count when they’re on the trade show floor. Here are 10 ways to maximize your trade show investment (some of them you can even start before you ever hit the trade show floor!)…

1. Run your reports and review your past statistical performance.

   Check your best-selling styles by store, by department, by class, and by vendor. Analyze what worked in your past assortment and what didn’t. Ask your staff and your best customers what kind of new products they want you to look for at the show. They’re a great source of information.

   Determine what areas of the assortment you want to focus on while you’re at the show. Figure out exactly what kinds of merchandise you’re looking for by price point, vendor, department, or story.

2. Decide in advance if you’re going to actually write orders at the show.

   It’s not necessary to write any orders during the show. It can be hard to make intelligent, informed assortment decisions while you’re there on the trade show floor. A well-defined merchandising philosophy helps keep you on track at trade shows. Take catalogs, make a lot of notes on the products you like, and make your final assortment picks when you get back home.

   If you have well-established vendors and they’re offering trade show specials, you might want to write some of those orders at the show. But don’t forget to consider the pluses and minuses of those special vendor deals. Decide before you go what kind of show specials might actually entice you to buy at the show and what ones you should avoid.

3. Determine in advance how much money you’re going to spend.

   If you’re going to write orders at the show, decide how much to spend and in which departments. Once you’ve developed your Open To Buy Plan using the Inventory Management module from the Retail Mastery System, this is a breeze. You’ll know exactly how much money to spend in each department every month of the year.

4. Get a map of the show floor.

   Find all the vendors that you want to visit and plan a route that’s efficient and thorough so that you don’t miss anybody you want to see. Decide how much of the show you need to work each day.

   Don’t get stuck having to see half the show in the last three hours and running down the aisles. Advanced planning lets you spend all of your show time working and not trying to figure out where you’re going to go next.

5. Make appointments with your top vendors. 

   If you have an appointment, you won’t waste time waiting around for them to have a spare minute to talk to you. Plan and make notes about what you want to discuss. Now’s a great time to request improved terms, discuss customer service issues, request items you’d like to see them add or change in the future, address any packaging concerns you might have, or any other questions you might want to talk to your vendor about.

6. Take your sales and inventory reports with you when you go. 

   You may have questions at the show that you didn’t anticipate and having all that statistical information at your fingerprints at your fingertips really projects a professional appearance when you’re dealing with your vendors. This is going to put you in a better negotiating position.

7. Do not spend more than you’ve allocated at the show.

   You can always buy more when you get back to the store. Sometimes show specials can get extended for a short period. Ask your vendor reps so you don’t have to make split-second decisions or feel pressured to make assortment choices that you’re not 100% sure about.

8. Take lots of great notes about the products that you see and like at the show.

   You may not know how certain items are going to fit into your assortment, but later on, you might find that they’re perfect with some new story or as part of an expanded category. Take especially good notes about the value of the products. How much do you think a customer would pay for that product? Sometimes it’s hard to determine this without actually seeing touching, or feeling the item.

9. Prepare yourself for the physical task ahead.

   Make sure you’re wearing comfortable yet professional clothing. The better you’re dressed, the more perceived power you have and the better position, you’re going to have when dealing with your vendors. It’s not fair or accurate to judge people by their appearance, but it does happen.

   Bring a bottle of water, some small snacks, breath mints or gum, and lots of business cards. Consider packing business supplies like a little mini stapler, some highlighters, pens, and a tablet for notes. And don’t forget something to carry all those goodies and your catalogs.

   Make sure you eat breakfast and a good lunch. You’ve got to keep up your energy, so don’t skip meals when you’re at your trade show.

   Think about attending any workshops and lectures or special training that’s offered. This is a great time to get important information about your industry and retail in general.

10. Have fun.
    

    Remember going to the trade shows and buying your merchandise is what your friends think is the glamorous part of the job. It’s hard work, but you can still make it fun.