Retailer's Corner: Market Tips for First Timers
Be sure to have a plan in place before you head to Market. Hear from seasoned buyers as they share everything you wish you had known before your first LVMKT.
Gift Retailer Contributors
Head of Retail Operations, Filoli Historic House and Gardens
Principal, Premier Retail Consulting
Principal, Patti Biro and Associates, DBA Wine-tique
Owner, Fremont Flowers and Bay Area Wholesale Florist
Plan Your Shopping List
“Bring sales reports for your major vendors and categories. Buying is much easier when you can refer to data. There’s no guessing what sold last season when it’s printed in front of you. This includes major merchandising themes for the season you are buying.
Know your open to buy before you get to Market. I divide the budget by category/vendor and how much I have to spend on new things. We keep a binder and track what has been purchased for which season. This helps our receiving team shelf it correctly.” – Raymond McKenzie
“Schedule product deliveries so everything does not arrive all at once and create a clog.” – Lilly Stamets
“Give yourself time to explore new vendors, and be surprised what you might find. I've found just one item from a single vendor can make a difference, and the visit worthwhile!” – Raymond McKenzie
“Make time to just shop, wander and discover new vendors and products. I make a “Wander Wish List” and actually book time in my calendar just for ME. I arrange it by what I seek: a new journal vendor, a new apparel vendor, a new merchandise category like body and bath. I book "me" time and feel that I get so much more done for the store.” – Lilly Stamets
“Stay hydrated! It is easy to forget to drink water when walking the floors. The more dehydrated you become, the harder it is to maintain energy. Especially in hot Las Vegas!
Enjoy a great dinner every evening. It is easy to skip breakfast and lunch when you get busy, so make it up with a delicious dinner. You’ve worked hard and earned it!” – Raymond McKenzie
Take Advantage of Market Tools
“Talk to peers. Ask if you can shadow them at #LVMkt, ask for a market mentor or shop with another member of your store for input. Ask your sales reps a lot of questions too!” – Lilly Stamets
“Take time to look over the seminar and other educational activities. Not only do they give your poor feet a break, but also you might learn something perfect for your business!” – Patti Biro
“It can be difficult for new attendees to take full advantage of market. However, #LVMkt offers first time seminars that really help you navigate. I've just started fully utilizing all the resources that market offers, and I am profiting because of it. The better I know the market, the better buyer I become. That translates to dollars in my pocket!” – Dirk Lorenz