Nobody Wants New?

Latest posts by Heather Schuck (see all)

I just returned from the ABC Kids Expo in Vegas this past week.  The show is a children’s industry tradeshow that connects children’s manufacturers with buyers from specialty boutiques, department stores, and chains.  Buyer traffic was down as the case with most shows; however, I couldn’t help but notice a reoccurring theme throughout the five day show.  Nobody wanted new.  The manufacturers I spoke with all commented that sales were down about 35-50% and that the customers that were still buying were existing customers.  I couldn’t help but feel sorry for the newcomers that ventured out to the show for their big launch, as many left with no orders written.  It seems the economy has left the buyers skittish and I can’t blame them.  They are suffering the same cash flow crunch we all are with their sales down 35-50% as well.  Many retailers are shutting their doors and others are barely holding on.  The safe bet becomes the best bet.  This theme rang true with my own line and customers as well.  About 90% of my orders came from existing customers and they only ordered the pieces that had sold well in the past.  They didn’t want the new pieces or anything remotely seasonal.  In contrast, the last three years I had exhibited at this show about 90% of my sales were from NEW customers.  Talk about a complete turnaround!  While I wouldn’t call my findings a “proven statistic”, I do think they are a fairly good representation of the real-world effects our downed economy is having on consumers.  Their tolerance for risk is nonexistent. 

What do you think?  Have you launched a new product?  If so, what has been the response?  Are you a buyer?  If so, are you trying new products or sticking with the “tried and true”?

Previous Article

Getting Back To Basics: Lessons From My Interviews

Next Article

Leader and High Earner

Related Posts
sales team strategy
Read More

The Best Investments to Improve Your Sales Team Strategy

Creating and maintaining a thriving business depends on the success of sales performance. Essentially, the effectiveness of your sales team at generating revenue is directly related to the success of your business. Keeping your sales team motivated and helping them maximize their performance can be challenging, but with the right tools and investments, you can...
Read More

WJR Business Beat: The Customer Is King (Episode 412)

On today's Business Beat, Jeff Sloan tells small businesses what they need to do to keep customers happy. Tune in below to learn more about the Raydiant survey results on what consumers want:     Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of...
Read More

Small Businesses That Own Their MarTech Can Edge Out the Competition

Adjustments to data protection regulations and Big Tech's revamping of how applications and third-party brokers acquire data sets have upended the world of user data management and remarketing. Big Tech, GDPR, privacy browsers and different privacy compliance standards are removing the user data of billions of users from the control of third-party marketing providers that...
brand awareness
Read More

5 Ways Technology Can Improve Brand Awareness

Brand awareness is more important than ever. Without it, customers can’t differentiate between your business and the competition. As a result, whether they shop in-store or online, they may not remember your company after a purchase, even if they like the products you sell. Brand awareness is especially important for startups, which need to quickly...