Wholesale Buying - Pre-Market Tips to Generate Excitement and Increase Sell Through

Hey guys, it's Sarah. I'm back with Boutique Hub today to talk to you about your pre market preparation. So you own a clothing store and you are ready to go to wholesale market, right? You're ready to go to Dallas or Vegas or Atlanta or Chicago or la. Or maybe you've dedicated this afternoon to sit down at a wholesale marketplace website and source products. All right, awesome. But have you done the homework necessary to get your customers input back on what you should be buying? Well, there's a couple different things and you know, I preach a lot about your analytics and looking at your inventory turn and looking at your vendor report card to determine who the vendors are you should be shopping with. What are those inventory classifications you need to feed? Right? You've heard me in Retail Bootcamp talk about feed, fix and forget on your inventory classes. Forget about those ones that aren't paying you back. Forget about those ones that are costing you money. Fix the ones that have possibilities, right? That are just kind of stagnant. But then feed those inventory classes that are real moneymakers for you. So, you know, I've asked you already to do your homework there. However, here's something else. It's all about inventory, collections and exciting your customers, getting your customers anticipating that next new arrival, that next product launch, the next collection drop, right? How do you do that? Well, here's a couple things. Get online, go social and say, hey, this or that. Heading to market very soon. What trends are you seeing that you would like me to look for when I'm in that market? Give them opportunity to give you feedback that is, number one, generating their excitement. Number two, they feel like you value their opinion. Right. And number three, it answers your question, what should I really be sourcing? What are these new trends that are on the market that are worthy of me investing my money in. And you already have that solidified commitment from your customers that they like it, they like it, they want it, they need it. All of those things translate into more quicker sales for you, more cash in your bank. So do your homework, get their opinion, scratch their back, they're scratching yours. Right? Help them feel like you care about them because you do. And again, a customer that cares about you stays loyal to you if you care about them, and they in turn know that that they'll care about you. And what that means is you care about them, you value their opinion and they care about you by shopping with you and ultimately paying you for products or services. So that's the win win. However, it doesn't just happen. So a Couple quick tips on that is do your homework before you go to market, go on social and say this or that. I'm seeing this in the industry. What do you think? Yes or no on Instagram? Give them the opportunity to vote and then take that information, go to market, go live for market, say, all right, you guys all wanted this trend and here it is, here I am. This or that. Now take it the next step further. Think about how much excitement you are generating with them, that they're thinking, oh my gosh, I need that. I cannot wait till they until it gets to the store. The other thing, the more engagement that has and the more people that they see are voting for that particular product, that just increases their demand to have to have it. Because everybody out there, not everybody, but the majority, especially women, they're very competitive. So if they see something is trending and they see the excitement level is amping up for a particular product, don't you think they're going to be the first ones to get it? They're going to want it first. So when you do drop that product and that does get in your store, it does go live on your website, that sell through is going to happen really fast. And the faster you have a sell through, the faster that turns back into cash so you can take it back to market and reinvest it into more inventory or pay your bills. So Those are my $0.02 about going to market and the pre market preparation. I talk about the feed it, fix it, forget it. In other videos we go deep dive into that in our courses inside the hub and our training library and ultimately in retail bootcamp. But you guys please make sure before you go to market and before you source any product, you've done your homework and you know who you're buying for and what they're looking for and you've generated the excitement. So once you get it, they're gonna buy it. Alright guys, follow us for more and we'll be back with more tips in our next videos.