Perhaps some of you already knew about it. Well, as part of my entrepreneur experiences, I would like to share with you on the pre-requisition and strategies involved on how vendor make money from PC fair. To be honest, it's not easy for vendor to earn a penny in PC fair nowadays, due to great competition, price wars and every vendor also try to sell the same hot cakes. In the other hand, a success vendor can easily gain RM10-20k from 3 days PC fair. That's why multiple strategies have to be applied in order to win the battle.
What are the vital strategies for vendor to win the battle? let's look at some points below.
PIKOM PC Fair is the largest PC fair in Malaysia.
1. Large Capital & Low Price
First and foremost, you must have big capital, then you only able to sell your product in lowest price. You must ready sufficient cash flow to invest into the stocks in bulk, as you want to get special discount and rebate from the principal. This is crucial. When you have cost advantage, you can sell your product in lower price. Because this strategy is too popular, now every principal will comes out special packages to attract vendors to take from them. For example, 100 units of notebooks @ RM1,800 each. 70 to 99 units will be @ RM1,830, etc.
Normally vendor will force to take the best package with largest cost involved, even though they know they might not able to finish the stock. Well, this is where the big players taking advantage. Imagine they have many retails all over the places, some up to 5, some up to 10, they can spread the remaining stocks and sell it at a reasonable price easily. And they might not have to enter stock anymore after that. The only bad thing is your cash flow will stuck with the stocks.
2. Work close with Principal
Booth setup also very important to attract visitor eye sight.
Secondly, if you must lock down on certain product you want to sell, and then liaise with the principal for the best price vs volume, and ask for booth sponsor. In that way, you can cut down your cost significantly. Get the maximum credit term from the principal for your cash flow advantage.
Besides, you must also reserve the stock with the prinicipal as early as possible, to avoid other vendors grab your stocks and insufficient stock supply from principal.
Thirdly, you may try to get as many booth as you can, if you are selling more than 1 product, what we called booth diversification. As customers walk by and shop, your booths are having high probability of being shopped. That's why you can notice the same vendor is having multiple booths in different corners of the PC fair.
The location itself also very important. Some customers don't do product or price survey, because it is crowded, busy and warm most of the time. Once they get in to the PC fair, they will just buy whatever they spot and leave the fair. So if you get your principal booked the right booth for you, then you are the lucky one.
4. Free Gifts
Distribution of flyers also 1 of the strategies to attract buyers.
Never look down with the power of free gifts. It's a magic strategy every vendor apply every time. For example, a poster written "Buying a digital camera at RM899 with 10 free gifts!". It will definitely attract most of the visitors to have a look. The more people visit, the buying chance are great. And most of the people like free gift. According to the marketing strategy, free gift makes people think that they have earn additional thing from the product they paid for. In fact, the free gifts cost are already bundled within the product price. Well, this method is just works well until today.
Finally, the promoters play the most important role in PC fair, just like any other field does. In PC fair, experience and sales-talk promoters able to boost up the sales significantly. The promoter must understand what they are trying to sell, so product and basic sales training are crucial for them. When the customer walk-by, they must catch every chance to promote the product and try to explain as much as they can, instead of just sitting or standing there to wait for the customer to approach to the booth. Well, that's why you must have as many as promoters you can around the PC fair, so they can bring the customer to your booths.
If possible, hiring some beauty models also can attract young visitors to visit to your booth, and trying to buy something from your booth in order to keep in touch with the models. For sure, I'll be the 1st visitor to do so. :)
Okay, that's all for my sharing. Have a nice weekend, folks.
See this promoter? It's too wrong that I don't take the flyer from her!