Introducing New Products To Your Assortment

There are so many perks to being an independent retailer, including that you can pick and choose the products for your store. Adding on to this already great perk is the opportunity for you to introduce new products without a big boss telling you “no”. Whether it’s a handbag line from a no-name designer with a funky edge or a popular brand that is sold in a million other retailers, if it’s new to your store then it is new to your customers from your perspective. That’s the catch, though – the pitch of the product must be originally delivered to your consumers so that they are as excited as you about the product you are introducing to your store.

When introducing a new product or collection, take the time to think about how you can let your customers know about this. It’s one thing if you have a new shipment of sweaters, but it’s another thing if you have a new shipment of sweaters from a line you have never carried before. Send out an email to your subscriber list with an incentive attached for your customers to want to come in and check the new products out. Possibly you offer a percentage off all purchases of the new product or throw in a gift with each purchase made. If this special something you are introducing is really a big deal, let your customers know this with a more grand celebration. Host a party, have a fashion show – make it fun and make it worth your customer’s time. Let the local press know what you are up to, as well, with a press release announcing your newest  additions and reminding the media of your great store at the same time. But don’t wait till the product arrives to get the buzz going. Tell your customers what they have to look forward to while they are checking out at the cash wrap. Include a flyer or postcard at check-out or through good old fashioned snail mail about these upcoming additions. Add signage to your store highlighting these exciting new additions and if possible, create even more of a buzz by creating a “wait list” if the product is worthy of one. Your excitement leading up to the arrival of the product plays a big part in the excitement your customers will have, too – so make it worth your time and theirs!

Finally, be realistic. If the buzz is only in your eyes and no one else seems to be responding to it, take it as a hint. Let the sales or lack of them be your final judge but don’t beat yourself up over introducing something new that may not work. It’s all part of the retail model and over time, you will know your customers well enough to know what they want and what you should buy for them. Even seasoned retailers with dedicated customers have misses in their purchasing decisions – not just you. But the best part of the retail business is that you get to do it again and again and again each buy season – so enjoy and remember to keep the buzz alive to help get the products moving!