DECISIONS DECISIONS

The most important thing to decide is where you believe you are going to find the best dresses/accessories for your customers, and the best possible deal from any suppliers to suit your customer requirements. The trade show calendar is full today. Shows are all over the world, including:

Barcelona, Spain

Essen, Germany

London Bridal Week / White Gallery

Paris, France

Harrogate, UK

Rome, Italy

New York, USA

Chicago Bridal Market, USA

Dubai & Abu Dhabi, UAE

The list is endless – and growing fast. What this means for retail business owners is they now have more choice than ever about where to spend their cash. It is no longer limited to just the UK.

This presents a potential issue for exhibitors. Deals, offers and gowns/ accessories which have worked well in the past may now start to become less attractive given the international competition.

For retailers, it can be a headache, too. Trying to seek out something different for your brides – and buying stock under more favourable terms means you may have to go/choose to go further afield to make buying trips fit your business model.

Although, working a fantastic weekend overseas into a buying trip sounds very attractive!

Some designers I know are forgoing the UK to travel to Europe and broaden their market place. Many of these shows, despite being overseas, are very well run and professional. They make it very easy to exhibit.

Why are you attending a trade show? What are your goals?

They may include:

✔Networking with other industry people; both retailers and wholesalers.

✔ Looking for new offerings from new and existing suppliers.

✔ Expanding your collections.

✔ Building strong relationships with suppliers.

✔ None of us know everything. Trade shows will help you learn, hone your buying skills and stay one step ahead of your competition.

Making appointments with suppliers:

Subscribe to supplier mailing lists

– and read them! Study show maps & guides in advance so you don’t waste time wandering aimlessly.

Plan your visit.

It is wise to leave some gaps in appointments with exhibitors so you can actually enjoy walking around and seeing what is on offer. Rushing here and there from appointment to appointment may cause you to miss something. And it’s exhausting.

Brides often do this don’t they! Fill their day with bridal appointments and have little time to concentrate on their individual experiences. Rather they want to get to the end of the day having crammed as much in as possible.

What about having an appointment at the same time as another retailer? A good idea? Why not?

This is where you can network, hear about each other’s businesses and discover which gowns work for them, which are proving popular and whether retailers are gravitating in one direction or another.

Talking shop is good. You can learn a lot from each other. You can maximise this between appointments during lunch/coffee breaks/in lounges, etc. Sitting yourself alongside other retailers helps break the ice and shows a united front.

Working in a bridal shop can be a lonely experience so being able to mingle with other people like you will be a positive experience.

Preparation:

Make sure in advance you know what you want to spend, and potentially, with whom. Know your numbers inside out.

Think where and with whom your top three to five gown/accessory categories are in gross sales and work with that as a start.

It is vitally important not to be left with dead stock on the rails. Anything which doesn’t repeat is costing space and money in your boutique.

Look at the brands which are not performing and consider why that is, and whether you want to continue with them.

Rein in the spending!

Many, many bridal retailers over- spend and overbuy. Attending a show is such a great event, it can be easy to be caught up in it all.

One in, one out I believe works. Continually filling up your boutique will only end in more and more items/gowns to try and sell off to make space.

For your customers it can create what I call snow blindness. They cannot see the wood for the trees with so much on offer.

Avoid over stretching yourself into other markets if untested. Work within your trusted parameters until you are financially ready to grow at a steady pace.

If something isn’t working, it should be let go. There isn’t much milage in constantly investing in a gown/product/company which doesn’t fit your business or results in not many/any orders.

Create a comprehensive shopping list – and stick to it: Seek out the most profitable and best-selling gowns on offer. Stock those that you know will work. It is wise though to go with your instincts when looking to try a new label which you’ve never entertained before.

Bridal designers will monitor carefully which collections are doing well, which there are calls for and ones which stick at shows.

Going off on a tangent and buying a wild card dress is something we’ve all been guilty of, I am sure. The mistake buy.

When a box arrives, you unpack it and ask everyone who ordered that particular dress. All is not lost though if you can move it on as fast as possible.

Working with your suppliers: Take photographs and notes. Avoid buying gowns/accessories which are too alike.

Listen to the experts. A good rep/ designer will always guide you to gowns/products which are on trend and proving popular. They know their dresses!

Spend time building relationships. This industry is all about human nature and trust.

Suppliers will be able to be more flexible/accommodating if they know you. You may need a special favour from them one day.

After the shows

Spend time after the shows, over a week or so, going through all the information and orders you have. You can review your buying decisions in the comfort of your boutique.

And remember, without you and your custom, trade shows would not exist. They are a fantastic forum for both you and the exhibitors alike. A chance for them to shine and for you to stand out above the competition with amazing gowns/accessories.

You have a choice about where you choose to shop. Choose wisely. Plan ahead and know where you want to go.

Your customers, too, can take their pick of where to shop. Spoil them with your choice of gowns. Coming out of your comfort zone at times can reap financial rewards.

As I say to my customers, always aim to be the market leader, not the follower.

The training courses Helena runs are perfect for both brand new and existing businesses of differnt sizes and budgets.

T: +44 (0)1582 451238

M: +44 (0)7896 944759

E: info@helenacotter.co.uk

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