July Meeting Notes

Notes:  7/16/14

Thank you to Alibi Fine Arts and Manifold for hosting in their space. 

Recap:

-Thank you to Alyson Beaton from Lille Huset for sharing her growing company with us.  She showed us some of their product line and discussed the road that led her to her current line which included:

  • Finding the right material – wood vs. card
  • Learning more about the customer and adjusting product
  • Updating packaging
  • Expanding the line
  • Finding a manufacturer that could produce the product affordably in the US
  • Marketing on her own and now working with rep groups, pros and cons
  • HItting the design show circuit and finding the right fit for the product
  • Verbiage – doll house vs. house
  • Branding
  • Protecting the idea / product

-Thank you to – Maria (Po-Campo), Jen (Starshaped Press), Sharon (Strand Design), Felicia (fferrone design), Elizabeth (Manifold) and Casey (Casey Gunschel) for sharing their experiences doing national trade shows.

  • Strategize
  • FInd the right show for your product – this may mean doing a few shows over time and then narrowing it down to the show that is most successful and yields the most sales
  • Use lessons from first show to strategies next show
    • Show placement
    • Booth setup
    • Booth merchandising
  • Major investment but also the only way for some buyers to take you seriously
  • Sometimes 3 shows before major results in sales.
  • Shows good for marketing even if sales don’t result right away
  • Helps to set goals – for example if the show cost $8000 goal to be at $24,000 in sales resulting in show participation, 1/3 rule
    • Track this with coupon codes or email list.
  • Distributing / exporting to international stores.
    • 32% – 45% off wholesale
  • ICFF – 90% A+D
  • NYGIFT/ NYNOW – more buyers there to buy

Links and references talked about:

-http://www.businessoffashion.com/

 

 

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