Posts Tagged ‘product trends’
Hot Trends: MAGIC Clothing and Apparel Show
Monday, September 8th, 2008
Las Vegas was recently host to one of the largest trade shows in the wholesale industry. The MAGIC Marketplace is full of the latest clothing and apparel from top designers and brand names. Fashion shows, booths and exhibits are in rich supply and it’s the perfect place to source products for either a brick and mortar or online retail store.
While all the booths received some attention, it was clear that there were a few that everyone clamored to get a glimpse of. Street and urban wear were the belles (okay, booths) of the ball and the following list highlights some of the most highly sought after suppliers of the August 2008 show:
1. Air Walk - This brand has been a staple in the surf/skate/snow scene for many years now. It remains true to its original vision but keeps it’s designs fresh season after season.
2. Raw Blue - This company, based out of Germany, boasts a line of hip hop inspired street wear. The website is still under construction but you can get a feel for the clothing from their interactive Polaroids.
3. Trinity Products - These shirts have everything from a flying snowboarder to a train wreck on them. They also feature a group of shirts inspired by pop culture.
4. Bullseye Brand - Hoodies, shirts, backpacks, hats, belts, shoes…the list goes on! Bullseye’s distintive designs feature skulls, tigers and even dragons.
5. Dyseone - Boasting "redefined" and "real" streetwear, Dyseone is your one stop shop representing the West Coast street wear.
6. Dickiesgirl - Dickies brand has been an industry standard for quality work wear, but throughout the years it has become more than just functional clothing-it has become a style and fashion trend! So much so that it has expanded it’s line into a whole other realm…the land of women’s wear!
7. Ed Hardy - Like color? You’ll like Ed Hardy. Clothing for men, women and kids, as well as shoes and accessories this brand does not do anything conservatively! Bright, bold color and cartoonish designs dominate and are taking the urban fashion world by storm!
8. LA Ink - Kat Von D of the hit show "LA Ink" has started a killer tattoo shop and inspired her own fashion trends along the way. Loyal fans and newbies alike want to dress like Kat and now they can.
9. TAPOUT - Get ready for a wild ride as TapouT takes you into American counterculture with their "flash, attitude and strength" all the while supporting and promoting Mixed Martial Arts (they even sell MMA training gear). Their apparel is some of the most sought-after in underground culture.
10. Bang-on T-shirts - If you’re looking for pop culture t-shirts, this is the place to go. Everything from Black Sabboth to Seasame Street this t-shirt company covers it.
You can attend then next MAGIC show in Las Vegas this coming February 17-19, 2009.
Tags: air walk, ASD, bang-on t-shirts, bullseye brand, dickiesgirl, dyseone, ed hardy, goWholesale, Hot Trends, la ink, MAGIC Show, Product Sourcing, product trends, raw blue, Rebecca Button, retail trends, source, tap out, trinity products
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Back to School Special - Seasonal Trending
Wednesday, July 30th, 2008
In order to maximize your profitability during seasonal changes, specifically with the back-to-school season, you need to remove the guesswork. You need to know exactly how the market is going to behave to make the most money.
Predicting the Future
How can you know when the peak sales are going to drop off? You can’t predict the future can you? Of course we can’t predict the future, but we can learn from our past.
Retailers keep track of what happened previous years to know how to effectively sell this year. Managers order enough calculators not only to get them through the back-to-school sale, but also the first few weeks of school. They know how to plan for this because of what happened last year.
The same is true with eBay. If you could see what happened last year with calculator sales, you could know when sales are going to start to drop-off.
With a market research tool like HammerTap, you can know what happened last year. With information like that, you can in a sense predict the future.
I used HammerTap to research calculator sales last year. I researched calculator sales for four weeks starting on August 23, 2006.
Below are the results by-week. Pay attention to how the Listing Success Rate (LSR) and Average Sales Price (ASP) change during the four weeks of sales.
The Dropping-Off Point
So when do sales drop off? Sales during Week 2, August 31 thru September 6 were the highest in both LSR and ASP. During this week, you can sell the most calculators for the highest price possible.
After September 6, the Average Sales Price drops rapidly. In one week you go from $66.85 to $53.95, a difference of $12.90. This is a huge drop in profit. While sales are steady at 77%, you are not making nearly as much per calculator.
Depending on your cost of the product, September 6 is your drop-off point. Even though sales are still high (that’s your Listing Success Rate) you may not be making enough money on each sale to cover your costs.
What’s your strategy then? Try to sell all of your calculators during Week 2 above to increase both your success rate and selling price. Selling during this week is going to maximize your profits for this product during the back-to-school season.
However, each product is different, and this is just one example. In order to maximize the sales of your products during seasonal and holiday trends like this one, you really have two options: 1) Try and guess when the optimal time to sell is or 2) Use a research tool like HammerTap.
Tags: advice, back to school, Generating More Sales, HammerTap, product trends, Sales, seasonal trends, tips
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When You’re Hot You’re Hot - Knowing What To Sell
Friday, November 9th, 2007
Part of being successful in business is knowing when to listen for the knock of opportunity. The savviest, and most successful, business owners will be able to detect that knocking even when it is faintest. This means being aware of products that will sell well before others, or at least before the market becomes saturated.
Let’s take a look at how you can figure out which products will be hot or are currently hot in order to take advantage of your chance to sell them.
Research Different Locales
Generally speaking, a product will hit hard in an area with a large population and concentration - and then make its way out to less densely populated areas. For brick and mortar businesses located in the central areas of the country, this means paying attention to which products are selling well in New York, LA, and so on.
Business owners who like to court a certain amount of risk may even want to see what is selling in other countries; traditionally, products and services that sell well in the UK, for example, also do well in North America.
Online Trending Tools
If online selling is part of your game, then the good news is that there are a lot of people who want you to succeed, in order to keep using their services. The Pay Per Click strategies employed by so many businesses today are huge money for the search engines, and that means that they are more than willing to develop and supply tools which can help business owners predict what direction to take.
Google’s Trends Tools is one example; it lets you compare and track the success of almost any product that you could imagine, broken down into any category you might wish. Thinking of starting a website to target consumers in France? Well, you can use the Google Trends tool to see what they will be likely to buy!
Be careful though - because sometimes these tools can be a bit distracting.
eBay Seller Tools
Another company that wants to keep their customers coming back, eBay, is making it easier and easier to figure out what products are likely to lead to your success. They have several tools that you can consult to see what has been selling well according to time parameters that you set; week, month, year and so on.
Once you get started on eBay, you will be able to see which products were selling at the best rate at different times of year; very handy when it comes to high-purchase seasons like Christmas!
Keep Your Ear to the Ground
Sometimes something happens in society that just makes it too easy to predict a hot seller. The SARS outbreak in Toronto, Canada, a few years ago led to a massive increase in the purchases of all types of masks. A major movie release, such as The Transformers, will mean a huge increase in sales on certain toys which may not have had much success in previous years.
Smart business owners keep an eye on the developments around them, always thinking about what a news story might lead to in terms of selling opportunities.
It really isn’t very hard to determine what it is that people will buy from you. Products that are selling at a good rate will likely continue to do so, although the time period will depend on the nature of the product (recurring, a one time purchase, and so on).
Staying with the trends means you will be successful in business!
Tags: ebay, Generating More Sales, google trends tools, Leeia Ladipoh, online auctions, product trends, source, trends, what to sell
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Selling Trends: Top Products of 2007
Wednesday, October 17th, 2007
As 2007 comes to a close, people are scouring the stores, the Internet, and their crazy friend’s craft shop for that perfect Christmas gift. This is the time of the year when sellers become psychically tuned to the state of the world and decide what the hot ticket item is for the year. Filling the requests of millions of holiday shoppers is a big task, but if anybody is capable of making consumers happy, resellers can.
What are the most popular products for the 2007 holiday season? Technology seems to be the key.
If it doesn’t plug up, use batteries or have a remote, it’s not worth the time. The most popular products include the following:
1. Apple iPod touch: This has been advertised heavily since it came out. Its “touch-does-everything” process attracts people from every age group. As Christmas approaches, sales and profits come easily. One selling point with the iPod touch is a built-in Safari web browser with built-in wireless access to the web. And since including music is a must for any new technology, another point of sale is immediate access to the iTunes Wi-Fi Music Store, where consumers can browse and buy the hottest music with a simple tap.
2. Nintendo Wii: People have to have their games. The proliferation of game sites such as Pogo and YahooGames has made that apparent. The Nintendo Wii is both one of the newest and most interactive video game systems available. Selling games along with the system can add hundreds of dollars profit to the mix. What makes the Wii so popular isn’t the advertising that the company spent millions of dollars to produce, but the interactive quality of this system. With a combination of infrared detection and accelerometers, the game controller senses where in space it is, which means that a simple hand gesture can control the game. A cool aspect to add to sales would be the introduction to PlayStation Home, an online community that can take gamers completely out of the real world and stick them in a virtual apartment.
3. Digital camera: The digital camera is facing stiff competition from cell phones, which has only forced camera developers to come up with more things to add to the package. Now they’ve added more storage and movie capabilities, which can almost turn it into a cheaper version of the camcorder. For the family set, there’s a kids’ version that has become a popular gift since it came out last Christmas, the Fisher Price tough digital camera. This camera, which sells at around $60, boasts the same picture quality and storage capacity as the adult version, but includes an impossible-to-break outer shell.
4. Flat-screen HDTV: No one really knows why they want it or how to use it, but they all have to have HDTV, and not just any HDTV, but a flat screen version. For those who don’t like the clunky picture-tube televisions, this is the first alternative. Expect HDTV sales to increase as cable stations across the country switch completely from analog to digital service by 2009.
5. Laptop: Laptops have been around forever, but they are only now becoming affordable enough for the average consumer to consider purchasing. They have the same (and sometimes better!) storage capacity as the larger desktop versions; but with the added benefit of portability, laptops have come into their own. Add to that the fact that many areas now offer free or low-price Wi-Fi Internet access, and it’s easy to convince buyers to go mobile.
6. GPS navigation unit for the car: Getting to a destination has always been half the trouble, especially for stubborn men who don’t want to admit they’re lost. Now, GPS units are included in most luxury cars. But with more exposure are more features and a lower price, the perfect combination for sellers. Now they are becoming more and more portable, with which consumers will be thrilled. At a retail price of $500-$600, even a small markup means big profits.
7. Blu-ray or HD-DVD player: The potential replacement for the DVD player, Blu-ray discs have a lot more storage and a lot more strength. Whether they will stay in the limelight for long depends on what happens over the next few months; but for now, they are in high demand. Movie production companies have already converted some 300 movies to Blu-ray format, and if the trend continues, there will be plenty of selling opportunities for years to come.
8. Disney merchandise: This is really a combination of products, but if you can get the license to sell it, there is no limit to potential profit. The High School Musical movies and Hannah Montana series are both very popular with kids, and the stores are showing that with posters, dolls and games.
9. Cell phones: Everyone has to have a cell phone, and now there’s no reason not to have one. The age of cell phone contracts is long gone. Now that there’s the prepaid option, even those with the worst credit can get a phone (and in many cases a rather nice one at that). The style and price of cell phones varies so much that resellers are free to focus on finding the right phone for the right person.
10. LeapFrog Fly Fusion Pentop Computer: This may be geared for the student, but quite a few adults could get some use out of this newcomer. This pen “translates” handwriting into digital words on the computer. It also has games, translating ability, an MP3 player and some special little surprises. A double market for the same product - can’t beat that!
Tags: Generating More Sales, jennifer ratliff, product trends, Sales, shopping trends, top products of 2007, trends
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Product Sourcing for the Seasons
Friday, September 21st, 2007
Product sourcing is one of the most difficult aspects of running a wholesale business. In order to maximize profit, wholesalers have to provide their customers value and convenience. For seasonal merchandise, this can be a challenge. Demand for it is variable, even with increased interest in holiday memorabilia.
Wholesalers are finding that in order to properly compete with e-commerce sites and online specialty shops, they have to source their products much earlier than in the past. It is true that Christmas comes in July–at least to the wholesaler. It is not uncommon to plan four or five months ahead of the holiday season. Of course, this doesn’t mean that buyers should only buy product during the pre-season window. In fact, merchandise is traditionally cheaper within the first thirty to sixty days after the holiday has passed, so for wholesalers looking for Christmas product, the best time to purchase might just be in January and February, when supplies are being clearanced. Some suppliers offer seasonal merchandise at a discount when purchased out-of-season, so it is best for companies to research that possibility before committing to a full-price purchase.
The worst time to source seasonal products is the thirty days before a holiday. As an example, if a company has not purchased its Halloween supplies before October 1, they will pay twice its intrinsic value. Bricks and mortar stores like Wal-Mart take advantage of this window to raise the price of their seasonal goods.
If sourcing products was as simple as studying the calendar, all wholesalers would meet with the same success selling seasonal merchandise. As it is, buyers must consider seasonal trends. What might be popular one year can fizzle out by the following season, leaving unsold merchandise all but worthless. Wholesalers have to play clairvoyant when trying to determine what, of all the products they can purchase, will be the most popular during the coming season. The goal is to purchase more of the popular product and less of those that have uncertain future. Fortunately, the clairvoyant has some help.
Online marketing firms such as Oneupweb conduct research that is useful to wholesalers and other sellers. Through the holiday season, Oneupweb keeps track of conversion rates, sales and web site traffic. By using Yahoo, MSN or Google, the firm can predict what is currently selling and what might be selling in the future. Sites such as Clickbank can also help wholesalers, because it provides buyers with information on a product’s popularity with other wholesalers, retail sellers or resellers. If others are making a profit from a certain product, chances are that there are still pieces of the profit pie available.
The Internet is a wholesaler’s best friend, not just because many of their sales are generated from e-commerce sites and through product web pages. The Internet helps generate sales for wholesalers in other ways:
* Through pay-per-click (PPC) advertising, which generate impulse buys
* By giving wholesalers a chance to evaluate online catalogs for an idea of what is selling
* By allowing access to Google and Yahoo page rankings, in order to see what sites are making the most in sales
* Through researching email marketing campaigns. By studying the subject of bulk messages, wholesalers can determine what products garner the marketing attention, and thus the largest probability of success.
* By providing resource web pages such as Quantcast , which can track traffic on a company’s website, and simple resources such as search engine rankings, which can show wholesalers what companies have the largest audience.
Tracking seasonal trends doesn’t guarantee a wholesale company vast riches, but by studying the market and sourcing products at the right time, wholesalers have a chance to capitalize on a consumer-market.
Tags: advice, jennifer ratliff, oneupweb, Product Sourcing, product trends, quantcast, seasonal, seasonal trends, source, tips, trends
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