Tuesday, June 29, 2010

Determining What Will Sell

Niche III

Now that you've discovered your niche, it's time to learn how to spot retail trends. Best described as the marketplace, whether the product will sell. We would all love to get in on the ground floor but often times that doesn't happen. So let's at least try to gain some ground by the third floor. There are several ways to do this.

First to understand retail in it's broad sense, selling products to the public. These products are our handmade items to be sold either directly to the public (retail) or to sell to retailers (wholesale).

First to determine the trends, we must look at what is selling in the marketplace. Next we shouldn’t allow our like or dislike of a trend prohibit us from joining in. For example, I don’t like the mixture of pink and chocolate but I’ve had clients who do. Give your clients what they want.

In spotting trends, you need to know if your target market is local or national. If you're selling on the internet you can reach a large audience, use it to your advantage. What one wears in the middle of the US is gonna be different from the West Coast and that coast is going to be different from the East. Use your TV time to spot trends, such as movies, sitcoms even daytime drama. I loved watching Dallas in the 80’s, I could never tell you what was going on but I could tell you what someone was wearing, about a table or lamp in the background. You get the idea.

Below is a list you might find useful:

The Crafts Report

You can learn more about your business in their Industry Information Statistics area. Find craft organizations both local and nationally.

American Craft
Information for crafters about buying trends and business principles.

Craftmaster News

Information for craft show opportunities.

Festival Network Online

Site for craft fair listings both in the US and Canada

Color Marketing Group

Created to forecast color trends one to three years in advance.

Feel free to post any helpful links you might have, that we may create a successful business together.