Friday, July 25, 2008

My heartfelt rant about the numbers game and Atlanta attendance is apparently getting some traction. Have had a couple of phone calls and emails from vendors asking where, then, I think the disconnect is between what they saw in their showrooms and the actual attendance count data. Here’s my response:

1. Look around your showroom. Are the products offered also begin carried online? If so, there’s part of your problem. Retailers are avoiding things that can be found in their stores, then purchased online for a discount. Why in the world would they want to be some e-tailer’s free showroom?

2. Are your vendors selling to big boxes? There’s another part of your problem. Independent retailers have had it with Target, Kohl’s, WalMart, and the like. They’re trolling those aisles before they come to market, making darn sure they don’t pick up the same stuff.

3. Did your vendors offer new product? Did you show new lines? If not, well, duh. Explains why the temps had foot traffic and you didn’t. Lots more newbies…less overexposure.

4. There are three types of buyers right now:

• (a) those with ample spending money
• (b) those closely watching budgets while buying responsibly, and
• (c) those who don’t have money, period (aka: the “Lookie Loos”)

Group A showed up and ordered. Group C skipped the show entirely (don’t even try to tell me that’s a bad thing), and Group B-—the vast majority of buyers-—will be working with your road reps or faxing in orders from catalogs. That’s not lost business. It’s rescheduled business, if you play your cards right and attend to their needs without making them feel pressured.

5. Smart buyers aren’t front-loading with as much inventory as before. Smart buyers are bringing in sure sellers, at a conservative pace. They plan to place reasonably sized re-orders as needed, rather than take on a whale-sized shipment all at once. As cash comes to them, orders will come to you. Can’t judge a show on just the paper written at it any more; technology and a sagging economy stretch that window out by six months.

6. Double check your math. When pondering quieter hallways at the show, did you factor in the reality that most buyers are clipping their stays down to two or three days? Ex: Let’s say you have 100 people (for the sake of easy numbers), five days, and a hallway. In a good year, all 100 people are in the hallway every day, from morning to night. Makes it look like 500 people were there (100 x 5), but there really were only 100. Now…let’s say those same 100 people each cut their time in the hall to only two days. Still had all 100 people…just never saw them in the hall at one time. Some days, could have been as many as 80 of them there…other days, could have been as low as 20. Never all 100 in a single glance. Trying to gauge show attendance by traffic levels without factoring in frequency is flawed math. Badly flawed math.

It’s all cyclical, folks. Let’s use this economy to hone our skills and survive together.

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