Planning Merchandise Sales at a Live Event Part 1 of 2:

Planning for event sales can be very complex and difficult. In this two part series we will go through the nuts and bolts of setting up an event, and, in part two, we will talk about merchandising techniques and increasing your sales. Part 1 (below) is a list of important things to keep in mind when planning your next event:

Know Your Demographic: The first and most obvious step in preparing for a successful event is to know who you are going to be selling to. You want to know the number, age range, male/female ratio, buying habits, etc. Music festivals, air shows, and corporate events, for instance all draw very different crowd types.

When developing your products, keep in mind that women make 60-70% of all purchases at events (even if those purchases are for men). Also remember the kids. Children's souvenirs are a huge part of the event market.

Plan, Plan, Plan Again: If you are developing promotional products specifically for an event, you will want to start at least 120 days ahead. This allows you plenty of time to develop the promotional items and source them overseas if you need to. You'll also need plenty of time to plan out the shipping logistics of your program, the merchandising, and and temporary storage you might need.

Develop Your Key Strategies: You'll need to set up a plan to ensure on-time product delivery. If there is a need to store product before the event, or at night during multi-day events, you'll need to arrange that as well as product transport back and forth between the locations. From a merchandising perspective, you'll need to ensure you have the necessary trucks, tables, tents, and the proper amount of sales personnel available.

Use the demographic information you gathered (and past sales if available), to try to determine how much product you will need to bring. Have a plan for dealing with left over product, and make sure you have a contingency plan on how to deal with a complete rainout (for outdoor events).

Get the Location Set: Before you go, it is of utmost importance that you take the time to visit and evaluate the site you will be merchandising at. You'll need to ensure that your location will have the proper traffic flow near it, you will be able to establish the proper signage. You'll also need to check that you have proper access to electrical outlets, a phone line if you need it, and night lighting for evening events.

Money, Money, Money: First you will need to determine what types of payments you will be accepting (checks, credit cards, etc..) If you are processing credit cards on-site, your site visit should have affirmed whether you have the proper phone access.

Unfortunately, many vendors spend far too little time thinking about cash security procedures. Events tend to be very chaotic, and cash can "disappear" in a hurry. Take special care in laying out how, and who will access your registers. Plan out how you will protect your hard-earned money when you are away from the booth,and during the evenings. Also take extra steps to ensure credit card information integrity if you are collecting the numbers.

Be sure to catch next month's email article when we discuss event merchandising and techniques that will garner more sales on site. Powertex can help you set up and plan your next event. Put our experience and vast assets to work for you at your next event. Call today at (800) 588-7111 , or email us at: customerservice@powertexgroup.com.


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