Running a successful market stall and getting the most out of your experience is not as simple as it might seem. Whether you are a new or more experienced stallholder, these ten tips are for you.
1. Price your items to draw your customers in:
If you are new the market stall game, you will need to think about what is appealing to a range of customers, what is right your a market stall and how to evenly distribute your product profits.
Consider offering more than one item category, a variety of colours and styles at varied price points. Ideally, price points should be distributed using a tier price scale to draw customers in as follows:
- Entry Point Items – Entry point items include those that may have less profit margin but higher turnover.
- Mid Range – These are the special yet affordable items that have an even margin, which means more of a profit and will make up the bulk of your work.
- Highlight pieces – These are the pieces that draw people in and have the ‘wow’ factor. While the generate less sales, the profit margin is higher.
Here is an example of how this set up may work: An artist that creates beautiful illustrations may sell framed prints as highlight pieces, a variety of sizes of unframed as mid, and cards as entry point items.
2. Balancing your display space:
Try to make your stall or kiosk as welcoming as possible. Here are some creative ways to help you balance your display at eye level, below and above.
If you have a table, try and set your product out so that it is a balanced combination of height displays, so that you can see everything standing away and not just looking straight down at the table.
Make it easy for your customer to see everything, but do no over accessorise or clutter the space so customers have to dig. Make sure products are clearly visible, the displays are full but balanced, so that there is just the right amount of product out at once.
Make your products accessible enough for potential customers to look at themselves and try on, or at least take a closer look.
If you just have clothing racks, you have a great opportunity to make your area inviting and bring it to life. Add props and furniture, show how the product is work, have images from a photoshoot or even a lookbook ready and on display. It should be easy for the customer to see and understand your product.
3. Be Unique and Be Remembered
Be unique and make an impact to potential customers. Do some research to come up with concepts for your stall or kiosk presentation. Look at other kiosks or market stalls, take note of store merchandising methods and don’t forget design blogs for inspiration. You don’t need to spend a lot of money to implement a few simple ways of using recycled or existing items to bring some life to your stall or kiosk.
Regular stallholders, don’t be afraid to try new things and change up your display. People might pass on saying hello if your stall looks exactly the same every time if they are looking for something new.
Making sure your stall or kiosk reflects your product is important. As an example, a vintage look kiosk or stall isn’t a good fit for contemporary products. Your display will draw your customer in before the product does, so consider your target market when designing your display or signage.
4. Brand recognition – How will you be remembered?
You may wonder why brand recognition is important. If someone is exposed to your products or label and don’t buy that day, how will they remember you again?
The name and logo of your business should be clearly visible and easily recognisable on your stall or kiosk and also throughout your stall. It is also a good idea to have your logo on your work, to reinforce brand recognition. If it doesn’t suit the style of the product, make it subtle but still make sure its there.
Get promotional material such as postcards, business cards or brochures for customers to take away with them. Don’t forget to add information on how they can buy from you elsewhere – such as online or at a shop. Sometimes the shopping centres or markets can be overwhelming and some customers may prefer to purchase later from the comfort of home.
4. Offer multiple payment options:
Cash is the most common payment method, but think about what other ways will make it easier for your customers to pay you?
Consider hiring a mobile eftpos terminal so that you can accept credit and debit card payments. If you aren’t prepared to sign up for one, take orders or offer paypal payments.
Don’t forget to put a little sign up in your stall or kiosk letting customers know if you have multiple ways to accept payments, and make it easier for them to purchase through you.
5. Wear your product/display its uses:
If your product is jewellery, clothing or accessories, always wear it when you are at your kiosk or stall. This will show the product off in the best possible way and show your confidence in its functionality.
If your products isn’t worn, think about ways to show its uses. A unique or difficult product concept may require some education. Think about ways to demonstrate its use such as pictures or perhaps even an instructional video.
6. Specials and Incentives:
Specials are a great way to grow your customer base. It’s important to keep your product display looking fresh and new, and there are some classy ways to introduce some deals that will make your potential customers feel a little special.
Consider some ways you can have special offers for new customers, whether its a reduced introductory price, a special two for one, or buy a product and receive something free.
Take advantage of special days (such as Valentine’s Day, Mother’s Day etc) throughout the year to offer something unique such as gift packs or goody bags.
Do your homework first to ensure that it is viable for you to offer incentives so you are covering your costs and they add value to your business.
8. Attitude & Feedback:
Always have a good attitude so you appear friendly and approachable. Always greet your customers with a smile, even if you are not the best at sales. The more accommodating you are to potential customers, the more special they will feel. They will be happier investing their money into something they feel connected to. The little things customers will remember you for!
9. Stock preparation:
Always make sure you have enough stock, including sizes, packaging and alternatives ready. Don’t forget to overcompensate for what you predict you will sell, so that you have enought stock left over for re-orders or possible wholesalers.
10. Follow up – leaving a last impression:
Follow up! Make sure you have a way to follow up, provide details of how to connect with you on your website or Facebook or if you have a mailing list, add a signup sheet to your stall.Follow up on all enquiries and begin to establish relationships.