Many flea market vendors are searching for the right business models to vie for sales. While it is easy to imagine why vendors think they need to compete on traditional dimensions such as price and assortment, that is not what will separate them from the pack, according to Kord Brashear, a principal at Continuum, a global design and innovation consultancy. Smart vendors must focus on the total experience they deliver to their customers and the values that matter. Below are three key principles Brashear suggests vendors adopt to succeed against the competition.
Know what shoppers really want
When vendors focus on the needs and values of the customers they have, and what it is they are trying to accomplish, it gives them newfound insight into the experiences they need to provide. When they start focusing on their customers, it will become clear how to tailor and adapt the services they provide. If your value to customers is about delivering personalized, expert support, capitalize on it.
Leverage your expertise
Customers are looking for expertise, and something really powerful happens when vendors can integrate their product expertise into every aspect of the customer experience. Dedicate space within your booth for dazzling product display, provide employee education and know how to use your products yourself, and have buying guides available, where appropriate.
Think beyond the transaction
Vendors need to develop opportunities to create value across all phases of the shopper experience. They can use product education or events as a way to create traffic. Many vendors stay relevant through author events and signings, as well as hand-selecting books or products based on what they know their customers might like.
The good news is there are many touch points to reach shoppers today. The keys to choosing the effective ones is know your customers, and adapt as they or the market environment changes.
For more information on how to sell products through demonstration, click here.