Trade Show Investment : Negotiation is key

Are you planning to exhibit at a trade show?

Good choice as it is a great opportunity to meet many buyers as well as take the pulse of the industry and meet many fashion stakeholders.
However, you know they can be expensive and you know we seriously care about your cash.

So let us share a few ideas. It will take 3 minutes of your time and save you over $3000 over time (or much more).
If you find it useful, tell us and we will reward you for sure.

As we wander around some of the tradeshows selling Spring and Summer collections, one of the things that really struck us was the number of brands we speak to who told us they had only decided to exhibit there at the last minute, after the show sent them an invitation.

Flattery, it seems will get you everywhere!

While exhibiting at a tradeshow can be a very effective way of boosting sales, taking the plunge at the last minute like this can have its drawbacks. If you can negotiate with the show, you should be able to get a better deal, resulting in a win-win situation for both of you: they will probably get repeat business from you and you can make more sales.

This is what you need to bear in mind:

1. The shows need you as much as you need them. Less repeat business for the show means that their sales team will have to work even harder next season. Traditionally, signing early gets you a discount without serious negotiation if you go real early.
2. The later you sign the contract, the less choice of location you will have (although you might still be able to negotiate a more reasonable price for your booth or stand).
   Siging late will also mean that you will pay extra for your flight, your hotel and other purchases or renting you need to do.
3. If you’re thinking of signing at the last minute, make sure that you know which brands will be around you.
   Ask yourself this: does it really make sense to settle for a location where you won’t be close to the brands which would sit well alongside yours on a shop floor?
   Can you be sure that buyers will come and seek you out? What makes you think that buyers have endless time available when they come to shows?
   Signing early also means that you will have 30 days and may be 120 days to connect with Buyers and take appointment pre-show. Isn't that cool? That is we do for clients.
4. If you’re a first time exhibitor and the show’s sales team tell you that you need to commit for two shows initially, point out to them that this is unreasonable: you need to try one season first and can only then make a decision for the second. If they are inflexible, this is clearly not the show for you. Just walk away and find a show with a more reasonable approach (or one which specialises in new brands).
   It is ok to commit for 2 shows if and only if you can cancel the agreement after the first show if the results were not met.
5. If you are planning to exhibit at a show and you seriously expect each buyer to order a minimum of 100 pieces from your collection, check with the show before signing the contract. We recently met some Asian brands at an international show who were very disappointed at the quantities ordered by buyers at the show. If the show you’re looking at attracts only smaller buyers/ independent boutiques, you may need to look at other shows or make sure you bring your buyers to the show however you do not expect the show to bring you buyers.

This shows thge importance to ask the right questions on every investment project you have. This is our job and we have  even created an online course (hosted with our sister company the LFBA) for you to make it cost effective.

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