Post by mcwier on Oct 9, 2010 12:45:46 GMT -5
With the economy the way it is these days let's not lose sight of the reason people go to festivals and other shows.
It is interesting, usually fun, CHEEP entertainment.
when times are good, they are looking for interesting, or unique things to spend discretionary income on.
when times are tough, as they are today, they are looking for the cheep entertainment factor.
If they happen to find what they think is a bargain they may buy, A few may still have the money to splurge, but that number is dwindling rapidly.
Under current economic conditions we must accept the fact, that our, hand crafted items, what ever they may be, can probably not bring the premium prices they did a few short years ago.
If you are a pro vendor and it is your sole income, it may well be time to rethink your strategy. You have to look at what business are thriving and which ones are starving today.
You may ask, what does Walmart or Giorgio's have to do with me. The simple fact is, they are all vendors, just on a different level, with a different business plan, and I can guarantee you their business plans have changed over the last 5 years, those that didn't are gone.
To simplify things, lets look at whos making it and whos not. Our economy is the worst in history, yet Wall Street, the Billionaires playground, is well on its way back to 14,000. Rolls Royce and Ferrari, are still pimping out $500,000 cars.
To find the only other segment of out economy, still thriving, you must skip over all the middle of the road, businesses and services to the bottom sector, Walmart, and the "Dollar" store are gaining sales of 18% to 50% and some even more per year.
The fact is most of those who attend shows are just like you and me, middle America. In case you haven't listened to the news lately, 48,000,000 of our potential customers are on food stamps, and you can't sell that $75 hand crafted pair of earrings for food stamps.
I am not suggesting you abandon your art, as I pointed out earlier there are those who still can buy them, what we have lost is all those boarder line splurgers. unfortunately that makes up the bulk of our potential customers.
Think about diversification, add some necessity "bargain" items. From a customers view point, if you make such beautiful quality earrings, then your home made scented soap, or taper, candles must be of similar quality, those they may need and can afford. You may be an artist, but there is no rule that says you must be a starving artist.
It is interesting, usually fun, CHEEP entertainment.
when times are good, they are looking for interesting, or unique things to spend discretionary income on.
when times are tough, as they are today, they are looking for the cheep entertainment factor.
If they happen to find what they think is a bargain they may buy, A few may still have the money to splurge, but that number is dwindling rapidly.
Under current economic conditions we must accept the fact, that our, hand crafted items, what ever they may be, can probably not bring the premium prices they did a few short years ago.
If you are a pro vendor and it is your sole income, it may well be time to rethink your strategy. You have to look at what business are thriving and which ones are starving today.
You may ask, what does Walmart or Giorgio's have to do with me. The simple fact is, they are all vendors, just on a different level, with a different business plan, and I can guarantee you their business plans have changed over the last 5 years, those that didn't are gone.
To simplify things, lets look at whos making it and whos not. Our economy is the worst in history, yet Wall Street, the Billionaires playground, is well on its way back to 14,000. Rolls Royce and Ferrari, are still pimping out $500,000 cars.
To find the only other segment of out economy, still thriving, you must skip over all the middle of the road, businesses and services to the bottom sector, Walmart, and the "Dollar" store are gaining sales of 18% to 50% and some even more per year.
The fact is most of those who attend shows are just like you and me, middle America. In case you haven't listened to the news lately, 48,000,000 of our potential customers are on food stamps, and you can't sell that $75 hand crafted pair of earrings for food stamps.
I am not suggesting you abandon your art, as I pointed out earlier there are those who still can buy them, what we have lost is all those boarder line splurgers. unfortunately that makes up the bulk of our potential customers.
Think about diversification, add some necessity "bargain" items. From a customers view point, if you make such beautiful quality earrings, then your home made scented soap, or taper, candles must be of similar quality, those they may need and can afford. You may be an artist, but there is no rule that says you must be a starving artist.