As the economy has brought many entrepreneurs out of the woodwork and into a booth, flea markets are taking on a new role, which is that of a startup incubator. Ripe ideas often take root at flea markets, which many find are the perfect place to start or expand a business. By taking advantage of the unique opportunities presented at these eclectic events, you can boost your profits and solidify sales in the New Year, both at and away from the table.
Use your position at the market as a chance to intermingle with shoppers. The flea market is as much a time for you to learn about them as it is for them to learn about you and your products. Do shoppers like to pick up your merchandise? Do they have questions about it? Pay close attention to shopper behaviors, because these are your best clue to what will sell them. A little amicable networking with other vendors can also go a long way.
Figure out what your customers are looking for. There’s a possibility that you may attract a niche market, but with the right merchandising and a convincing pitch, many shoppers will be enticed to make a purchase. Is the crowd flocking to the booth with paper lanterns strewn overhead? Are shoppers more interested in trying on clothes? Are there parents with children shopping for toys? These are important pieces of information to figure out early in the day so that you can make any necessary changes to your booth.
Test market new products. Flea markets are one of the easiest places to get an idea of what consumers really think of merchandise, because they have the opportunity to interact with whatever you choose. Demo products, in particular, do well in this environment, and whether your new product makes customers flip or flop, you’ll be able to tell right away.
Finally, build customer loyalty. A few helpful tools in this are business cards, fliers, or verbal invitations to customers to find you on social media. Keeping in touch with your customers this way helps them remember who you are and what you sell, which helps build awareness of your brand. Keep your contact info readily at hand and consider having a guest book on your table where shoppers may leave a name, email or mailing address. The more engaging you are, the more apt customers will be to shop your space again.