Trade Fair
Every year in the winter season, business associations arrange Trade fairs. This year we ‘stolen’ attended the fair. We took a corner stall with enough big to display products.
Our thought was, people only come to hangout at the trade fairs, and don’t buy anything. So, let’s sell enough to cover our costs. And introduce our brand to people.
Turns out, we were very wrong. People do buy a lot at fairs. Now we sell 20k BDT daily.
Here are my observations of trade fair business
- Consumers are used to bargaining at fair. Most of them feel uneasy buying at a fixed rate.
- Most consumers are unsmart, backdated.
- The good thing about backdated customers is, they don’t care much about money when they like something. Once they buy, they influence friends to buy also.
- Low-end products(50-100 tk price) sell well.
- Mid-range product and high end product is a perfect combo. i.e we sell tshirt 300 tk nad Pents, Bangs 700 tk. It makes our revenue fat.
- Most of the stalls don’t care about building a brand. They focus on instant profit.
- Everyone sets high product prices and cheap packaging. We are the exception,
Overall, trade fair brings really good money. Also, it cost a lot. A 24-hour stuff is compulsory.
It’s a very busy month for me. I do manage online sell, and Facebook customer service at night and morning. Prepare delivery package by 3 pm while managing upcoming t-shirt production. After lunch, I go to the fair stall to help. There is huge customer pressure from 5-10 pm. at least 3 people are needed at that period of time. No time to check out chicks lol.
This is a great opportunity for us to go BREAK EVEN.