Top 10 Tips To Earn More at Your Market Stall
The times are a-changin' dear market stall holders. While you may have already successfully set up and kept up a stall, the ways to cash in are evolving. Dedicated as we are to helping you out, we have rounded up fresh ideas to help you sell more.
How To Sell and Earn More. Photos by pexels
Tip 1. Create a Mailing List
The success of your market stall relies on who else? That's right, your customers. You don't want them to forget you! One way of doing that is by creating a mailing list.
According to NineMSN Finance, this is one way to stand out from other sellers. Keep a charming notebook handy and after they make a purchase (or even if they didn't buy anything but seriously considered doing so), politely ask if they want to learn about your next market appearance, new items on hand, when you are restocking on favourites etc.
This is also a way for your customers to know more about your products. Create some excitement that will draw them back to you.
Colorful Notebook - Laptop. Photos by pexels
Tip 2. Wow! Them With Your Market Stall Display
First impressions last. Make sure that your stall has a memorable display to make them stop.
If you are a newbie, this won't be too difficult; you are a new face with new items and people will be naturally curious. However, you need to step up your game when you are a regular. How will you let people know you've got something new? Be creative with your table and accessories. But remember to focus on your main wares.
Tip 3. Have Multiple Payment Options
Though the majority of market goers pay with cash, it will be nice to have other options. Consider getting a mobile EFTPOS. This will be especially useful when you have items that are more expensive that what you usually sell.
Think about the times you went shopping, didn't have enough money on you, and wished the merchant would accept credit cards. Your customers feel just like that! Another thing you can do is offer PayPal payments as suggested by the people over at The Finders Keepers Market.
Tip 4. A Healthy Float
Hundreds of market stall holders couldn't go wrong: prepare 1's, 2's, 5's, 10's, and 20's before the market opens. How many times have you had to let a customer walk away empty-handed because you didn't have smaller bills for change? Don't let it happen again.
Also, learn from the Retro Mummy's experience: don't let another market stall holder buy something small from you and pay with $50 before the market starts. They are just after the change for their own float.
Tip 5. Get A Good Gazebo
A good gazebo is a worthy investment. Remember that it is the gazebo that will bear the brunt of the bad weather. Choose one that can be attached with wall kits since they can help fend off the water during a downpour.
If you are not sure of what to get, you can read our Buying Guide for Market Stall Holders.
Tip 6. Make Sure You Have A Catchy Brand
If your brand is not too catchy then it should sound reliable at least. Market goers are wary about buying from a stall that doesn't have a name. This is especially true if you are selling food or items that are a little more on the pricey side.
Create a nice sign that bears your brand with clarity, and creativity. If you do not have the budget for printed banners, you can opt for chalkboard signs. They look young and hip, plus they are so easy to customize.
Tip 7. If You Have A Food Stall - Have Samples
You know what people love? Free food. Let the market goers know how special your offer is. Serve the crowd with bite-sized portions of whatever food you are selling. For dips, sauces, and other runny specialties, keep a bowl of soda crackers that they can use to scoop them up.
Tip 8. Offer Special Items With A Purchase
People like getting extras. It doesn't have to be anything expensive or even half the price of the actual purchase. Just give away a little something that's nice to have. When eco bags were new, I enjoyed buying tiny knick-knacks I didn't even need from this store but I kept going back because I know I'll get free eco bags.
Think of the same strategy. This can even double up the promotional move for you. Think of button pins or fridge magnets that have your brand and number on it.
Tip 9. When The Price Is Right
Try to keep your items within the $10 - $30 range. Most market goers are impulse buyers and wouldn't think much about spending up to 30 bucks.
The Market Roll reminds us that anything above that mark would feel like an investment and market goers will be more likely to think that they don't need the item. This doesn't mean you can't sell anything more expensive, rather it's best to have more items that will surely sell out.
Tip 10. Have Something For The Tourists
Visiting markets are on the list of any tourist. They are always looking for stuff to bring back home! Have something for them.
Remember that they want something that reflects the place they have visited. Key chains, T-shirts, and caps bearing the city name are the most common souvenirs. Try to keep your prices reasonable so they won't be tempted to walk around to find a better deal. Be the better deal.