Dear Retailers

This week we were at New York International Gift Fair, amidst beautiful weather and wonderful people. It was great to meet many of our retail partners face to face and get their feedback. Being in a wholesale setup, I don’t get a chance to do that often. So it was a treat!

 I attended many seminars, walked the show and collected feedbacks from you all and this is what I learned.

“Handmade look” is in fashion

The good news is that handmade look is very much in fashion. Stores that are carrying ethical, sustainable products did well and have seen a growth even in this bad economy.

The bad news is that handmade look is in fashion.  I observed that even big conventional businesses who in the past have focused on industrially produced good are now carrying a range of “handmade, green feel” products. So there is a lot of competition in the market for handmade look.

Make sure you pick the right product for your customer and communicate the story behind the product well. This will give your product an edge over the pseudo handmade of the market. People are looking for “products with a meaning”.

Product beyond product

    

As I said earlier people are looking for products that give them more – not materially but spiritually.  They should feel good about their purchase and not guilty. The “product” itself is just a part of the package. The product enveloped by the story of where it is made, how it is made and how is it affecting the world makes the complete product. The political changes on the world map have intrigued the consumer to think of his purchase on a global level. He will be a happy consumer if he can tell his friends how his purchase is impacting the world in a positive way.

So make sure to offer this ‘ Complete product’. Good product tags that explains the ‘where and how’ of the product  is a must. Learn more about making of the products yourself and also ask your vendors to provide you with information, display posters etc about the artisans who made the product. If you are an online retailer, videos of the product in making can be helpful.

Other trends

-          Personal accessories like scarves, jewelry and bags are doing better than home decor items. Also small gifty items (Retail $10 - $30) are doing better.

-          The market is still price sensitive. Products with reasonable price points are doing better

-          No matter how the market is, the customer will always look for good designs and quality.

-          A collection sells better than individual pieces. While buying for your store make sure to buy as a collection of similar items. Also selling as a collection helps. For example setting up  ‘Sustainable’ or ‘Eco’ or ‘Travel’ sections in the store will draw more customers.

 Trends to look out for Spring 2011

-          Prominent colors will be pinks ( from blush pink to magenta ), all shades of blue, greenish yellows and shades of cream and grayish whites

-          Materials will be Metal, paper, ceramic, glass and felt.

-          Homemade will grow. Even the luxury market will be include, sustainable, eco, Fair Trade products.

-          Eco packaging will be big. The customer will respect less or responsible packaging.  Ask your vendors for less plastic packaging or eco packaging. You can run promotion programs such as bring your own bag to get 5% discount on your purchase. Or maybe organize recycling programs in your store to collect discarded cardboards/plastic bags etc that you can use as “give away” bags. All of this will create a loyal clientele and of course a “happy earth”

You retailers are our eyes to the market and trends. I invite you to share with us what is happening in your domain, what  you think is up and coming and what you would like to see in the marketplace.

Have a happy Fall!