This document provides tips for retailers when visiting gift fairs or trade shows to purchase inventory. It recommends spending the first half day observing the marketplace before taking notes and seeing which vendors are busy. It also advises developing a buying plan and budget, introducing yourself to sales reps, asking questions about their products and terms, and taking time to carefully consider purchases rather than rushing decisions. Retailers are encouraged to negotiate for deals, leave paper with reps but not feel pressured, and ensure purchases will appeal to a wide audience. The document also discusses concepts like turnover, stock-to-sales ratios, and the Open to Thrive system for determining purchasing levels.

1. Controlling Your BuyingDebra Templar: Retail Check ups, Tune Ups & Makeovers....It’s in the bag!

2. Tips When Visiting a Gift Fair or Trade Show

3. 3Spend the first day ½ day or so just looking around. Absorb information – who’s selling what and for how much.Take a few notes about places you’ll stop by later. See who’s busy.The biggest asset you’ll have is KNOWLEDGE OF THE MARKETPLACE. Knowing what’s available in a category is a valuable negotiating tool.Great buyers get the best deals – not necessarily the biggest stores.Buying is more than “ I love it, I’ll take it”

4. Never buy without a buying plan or a budget showing you what you can spend for the various categories or departments in your store.Make a list of the vendors you want to see and, if possible, make appointments

5. Dealing with Sales Reps

6. Introduce yourself and your store.Never ever try to act as if you know more than you do or give an impression that you’re a big buyer, someone who places big orders.Being humble works in building professional relationships – but don’t OVERDO being humble or you’ll get taken advantage of. ( “ I’m a small store. I try to be a loyal account and pay my bills. I just want merchandise that sells. I don’t want to be your biggest account”).

7. Questions to Ask Sales Reps

8. What other stores do well with your line?Who else do you sell to in my area?What kind of order minimums do you have?Are minimums strictly enforced for a new store?Do you have any promotional or off-price merchandise I can buy to help me maintain a good mark-up with your merchandise?Is this merchandise re-orderable?Do you have any colour photos you could give me (at no charge) so that I can use them in my advertising?Do you offer any classes, cds, a website or literature on how to sell your merchandise better?

9. 9. What do I need to do to get a little better price?10.Do you offer an extra 5% if I leave my order with you now?11. If I buy something and it just isn’t selling, can you swapthings over for me?12. Do you have a private label program?13. When do your prices break in the season?14. When will the goods be delivered?15. What are the terms of payment?16. Can I get dating?

10. Asking for deals

11. If you want something, you have to ask forit:Off-price merchandise

12. Promotional goods

13. Dating

14. Demo days

15. Advertising money

16. PhotographsLeaving Paper

17. Leaving an order with the sales rep when you view their line..Take a look, make notes, take photos (if allowed) and get back to the sales rep to buy the stuff you actually want to buy.Sales Reps, however, will want to get your order on-the-spot.Let the Sales Rep know when you plan to place your order – then stick with your promise.Good reps can be very valuable allies – don’t aggravate them unnecessarily.

18. DON’T rush your buying. Take your time. Network with buyers. Ask them what’s hot. Spend the time to shop, buy and place your orders. ALWAYS remember the brand you’re trying to create. Make sure the merchandise fits in.This is the time to test, test, test. Don’t buy too much of any one line.

19. Use your own order forms or purchase orders. Saves you money and time +You’ll have a better feel for how much you’re buying.

20. Your buying terms, not the manufacturer’s terms, are listed on the purchase order. Eg. Your Order Form may state that you will pay 30 days from the date you receive the merchandise. Manufacturer’s form may say 30 days from the invoice date.How to pay?Credit card – additional 30 days + frequent flyer pointsOpen an Account.You always want to be able to pay for the merchandise after you have had time to sell it.

21. 16Placing an Order

22. Let Sales Reps show you the entire line. Select what you like and ask the rep if you’ve made any mistakes.

23. Are there any styles or model numbers you should eliminate or add?

24. Give the rep a chance to give their opinion.

25. Ordering merchandise should be a partnership – you don’t have to agree with the rep’s opinion – the final decision is yours. But at least you’re respecting their knowledge of the line.Make sure merchandise appeals to widest market possible:

26. Not too old

27. Not too young

28. Not too cheap

29. Not too expensive

30. You want to buy middle-of-the road merchandise (BUT NOT mediocre) that has the widest audience. Also, because casual lifestyles have become popular, you might add more criteria eg.

31. Not too formal and Not too casualManaging Your Buying

32. Temptation