We have come up with our top tips in running a successful market!
Check them out below!
Know your customer
Stand out from
People buy from people
Spread the word
It’s important to know who your target audience is. Once you know this you can set up your stall to be as attractive and appealing to them.
There is always plenty of competition around, so you want to make your stall stand out amongst the others. You can use colours and illustrations that best reflect your business on your signage, display, packaging and pamphlets. It’s worth investing in your brand if it makes you stand out. You want to use eye-catching signage and displays to draw people in and make your booth easy to find.
At a market stall you need to set your pricing strategically. Remember, you want to be profitable, whilst remaining competitive. One way is to offer discounts or bundle deals, as this can encourage visitors to buy more items. When customers visit a market they don’t want to spend a bucket load of money. Customers are more attracted to the ‘cheaper deals’ such as having a product bundle of 3 for $10 as an example. Make sure that all your items are clearly priced. Be sure to research your competition before the market day and price your products competitively.
With a growing trend to go cashless, it’s essential to have a tap and go card reader, as well as accepting cash. Be sure to bring enough cash for a float so as to not disappoint customers who do intend on doing cash transactions.
Selling face to face gives you a huge advantage in building relationships and rapport with your customers. Make sure to greet everyone who walks into your stall area, this way your customer feels acknowledged and welcomed and is more likely to make a sale or return to your stall. Be friendly and approachable, and take the time to answer questions and talk to customers about your products. However, you don’t want to keep the same visitors at your stall for an extended period as this can turn away other potential visitors if they have to wait too long.
It’s better to be prepared with more stock than less. However a cluttered table may look messy and overwhelming to customers, offering a variety of styles, colours and sizes will help with conversions. Offering bundles and promotional offers will also see those sales rolling in. Having carry bags ready for after purchases is always better than having none.
Don’t be afraid to tell the world about your stall and where to find you. If you don’t have them already, set up multiple social media accounts to engage with your customers and keep your business at the top of their minds. On your social media you can promote offers, share opening times and locations as well as build up a loyal following. Remembering to interact with your followers online will also boost your relationships and rapport with them.