Trade fairs are enjoyable and dangerous in equal measure. You are surrounded by new product, enthusiastic reps and deals that expire at the end of the show. Decisions made in that environment show up in your cashflow four months later.
Go with a budget and a list. Not a vague sense of what you need. An actual number for total spend, split by category, based on what those categories currently turn over and earn. Without it, the fair sets your budget for you.
Know your open-to-buy. If you are already carrying stock bought last season, your capacity for new commitments is smaller than it feels while walking the aisles.
Ask about terms before you fall in love with the product. Minimum order, carton quantities, freight, payment terms, delivery windows, reorder availability, and whether the supplier sells to the discounter down the road. A beautiful range with a large minimum and no reorder capability is a clearance problem waiting to happen.
Be sceptical about anything with a big first order and vague ongoing support. Suppliers who need volume upfront are shifting risk onto you.
Trial small where you can. A modest first order that sells through and reorders is worth far more than a hero order that fills your back room. Reorder ability is the whole game in gift and impulse categories.
Take the delivery date seriously. Seasonal stock that arrives late is a markdown, not a range.
Watch out for the payment-for-placement offers. Any supplier offering to pay you to stock their products deserves careful thought, because the money usually comes with commitments about space and volume that cost more than the payment is worth.
Finally, write down why you bought each line. When you review the season, that note tells you whether your judgement or your execution was the issue.
Members get access to preferred suppliers, better terms and pre-fair guidance on what is actually working in comparable shops, so buying decisions are made on evidence rather than atmosphere.
If you have a fair coming up and want a second opinion on your plan, email help@newsxpress.com.au before you go.
