Faire Summer Market 2021 is finally here. The first day of the event was an exciting one, with thousands of brands and retailers in attendance. Retailers discovered and shopped new brands and products at exclusive prices, and market attendees tuned into educational livestream events hosted by industry experts and members of the Faire community.
Maximizing cash-flow with Management One
Paul Erikson, Director of Sales and Marketing at Management One, hosted a session about the current state of independent retail and how consumers are spending in 2021.
Paul, who also shared best practices for cash-flow positive retail on Faire’s podcast Brick and Order, spoke about the importance of keeping inventory fresh. Not only does this fulfill the consumer desire to shop for something new, but it maximizes profit. “When you tie up your dollars in excessive inventory, you’re counting on old products to produce new sales,” Paul said.
Further, Management One stressed the importance of gaining a customer’s “share of heart” by establishing an emotional connection with the overall store experience. Lastly, Paul touched on some of the top customer complaints—like long lines and difficult return policies—as key issues to avoid. For more insight, read Management One’s Faire Summer Market supplemental notes.
Four steps to the perfect pitch with Alli Ball
Founder and CEO of Food Biz Wiz, Alli Ball, coached consumer packaged goods (CPG) brands on how best to appeal to their buyers.
Alli reviewed four steps to crafting the perfect pitch, including preparing a clear, succinct answer as to why a buyer should stock your product line. “A buyer’s decision is always based on whether or not adding in your product line will increase overall sales, margins, or some other financial goal,” Alli said.
As a final step, after prepping and perfecting your pitch, Alli emphasized the essential practice of following up. “A squeaky wheel always gets the grease. You have to stay consistent and persistent.” She recommended following up with buyers at least every two weeks.
Holiday 2021 trendspotting with Patti Carpenter
Award-winning creative director and trend ambassador Patti Carpenter returned for her popular segment on upcoming trends in color and decor for the 2021 holiday season.
Patti began by emphasizing the current time of transformation, recharging, rebooting, and restoring. Echoing Paul Erickson’s sentiment from earlier in the day, Patti emphasized the consumer desire to seek out comfort, community, and connection. “As a reflection of the way we interact with each other, a gentler approach with a focus on nature, being mindful, and purchasing mindfully has emerged.”
Patti discussed many decorative themes for the upcoming holiday season, from nature-centric decor that displays the beauty of imperfection and brings the outdoors inside, to classic patterns and plaids. She also updated viewers on current color trends, like black and gold elements that offer an upscale, chic look and holiday jewels of ruby red and emerald green.
Engaging brand spotlights
- Keith Cohn, founder of Candy Club, showcased the dessert brand’s top products and shared the company’s long history.
- Austin Miller, President of Kahiniwalla—the U.S. distributor of socially responsible kid accessories brand Pebble—discussed the importance of fair trade, the principles of the World Trade Organization, and how to authentically represent artisans.
- The team at DM Merchandising gave viewers a look at some of their top-selling products, from tie-dye sets to hair accessories.
- CEO and co-founder of Droplet, Celeste Perez, wrapped up the day with a fun-filled happy hour where she mixed unique cocktails and shared the origin of the beverage brand.