Wednesday, January 30, 2008

Shopping For The Shop

How I Find Products For My Store

Big company stores have salaried merchandise buyers who live glamorous lives shopping with someone else's money; alas, I am a one-woman show here in independent retailer land. Still, I do receive more than my fair share of inquiries from people starting their own store or business students wanting to know where I get the products you see in my store.

For the most part, I buy what I would like for my kids. I like to think I have good taste. This method hasn't always worked out the way I planned, but I have been improving my instincts over the years. I've learned that just because I like a product it doesn't necessarily mean anyone else will, and sometimes I'm the one who thinks "leggings for babies? who would want those?" Evidently, everybody wants those.

The best one-stop-shopping way to locate and contact new suppliers is to walk the trade shows. Industry trade shows are preferable, but you can still find a lot of new niche items at consumer (read: open to the public) trade shows. In order to get admitted to an industry-only show you'll have to prove that you are a retailer and not just obsessed with finding out how much wholesale prices are. This means you'll need a provincial resale permit, called a "vendor's permit" here in Ontario.

Since I live in the GTA (Greater Toronto Area) I am fortunate that there are a lot of big shows all year long. My favourite is the Canadian Gift and Tableware Association trade show. It is an absolutely ginormous show and lasts for 5 days, twice a year. Wear comfortable shoes and carry some water with you. And GPS might come in handy.

I've also attended the Canadian Toy Association show which is a much more manageable size. It's just way too much fun attending the toy show. I'm a kid in a candy store, so to speak! Usually, there are the Toronto International Gift Fair and the By Hand shows on at the same time in adjacent buildings. These are also great places to locate new, unique products, especially that little gem of an item that nobody knows about - yet.

Another great resource is all around us. Media like newspapers, television, and magazines contain a plethora of lifestyle, parenting, and trend articles. It's probably where you first heard about the spate of toy recalls last year and the bisphenol-A controversy this year. Use this information to intuit what products people might want next.

Not to point out the glaringly obvious, but the internet is also a very, very good research tool. There are baby product review blogs where you can read about other peoples' hands on experiences and see their opinions. Shopping directories sometimes have posted customer reviews. People want to buy what they see celebrities buy for their kids. Want to know what brand of socks Suri Cruise is wearing? The internet knows.

Many distributors or manufacturers will have sales reps representing their product lines. These professional sales people are very good at finding and contacting retailers that may be interested those product lines. I hold the controversial viewpoint that not all sales reps are evil. Sure, they want retailers to purchase products, that's their job. But don't immediately assume that they are out to stick you with a case of unsellable product. That won't serve either parties long term interests. They have their ear to the ground and often know what the next big thing will be before I do. A good rep will remember what the focus of my store is and can make me aware of an item that could do very well for me.

Lastly, I don't find new products - they find me, or rather, my email address. I receive way too much email. About one or three a day are from small to large scale manufacturers, distributors, or talented moms suggesting their products for inclusion in Blue Blankie. Sometimes I can tell they haven't seen my web store or they'd be aware of the oddness of their suggestions. (Menswear from India?) But most are really thoughtful, sincere emails with a great back story. And since ultimately, I can't carry everything I see, those are the hardest offers to refuse.

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