How to Make Sense of Trade Show Dollars

Which gift trade shows have you attended or are preparing to attend?

In between filling orders, it’s crucial for you to check inventory items before attending a show to determine which products need replenishing, which won’t be reordered, and what new products match your clients’ profiles.

Checking stock allows you to:

1) Purchase a considerable amount of wholesale merchandise to ensure that you don’t run out of stock before mid year.

2) Take full advantage of trade show specials, including free freight.

3) Keep retail store purchases to a minimum, specifically to maximize your budget and time competing with general consumers for store merchandise.

As an example, you may be a designer who has $1,000 to spend until the next season’s show. This is a conservative amount but a good round figure as a model.

The bulk of the funds is usually allotted for foods, gifts, baskets, containers and enhancements. Less will be spent buying shred and cellophane, as these items are most likely on hand from prior seasons.

A small portion of your budget may be allocated for new products that match customer requests. Review their wishes very closely before deciding what to buy.

If you’re not located near a gift trade show, invest the travel dollars saved on a subscription to gift industry magazines. These publications deliver monthly trade shows and seminars to your door through ads and articles.

Out of eight gift industry magazines I know exist, three are fee based totaling an average of $100 per year, so pursuing subscriptions is a wise investment.

Make a concerted effort to plan your buying list before attending a trade show. Planning helps you stay in control of your dollars, and that makes sense to keep growing profitably.

See my trade show speaking schedule here, and if you attend, please introduce yourself after the event. I’d like to meet you.

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Comments

2 Responses to “How to Make Sense of Trade Show Dollars”

barbra pizonka on March 2nd, 2009 1:14 pm

just wanted to let you know how much help your emails have been. I went to your class in oaks pa. just wondering when and where you will be having another one?

thanks
barbra pizonka
Shirley George Frazier on March 3rd, 2009 2:23 pm

Hi Barbra,

I’m so glad you were at the Country & Crafts Show.

All of my classes and seminars are listed at http://www.GiftBasketClass.com/.

Each new event is listed when I receive confirmation from the show’s producer.