Entrepreneur.com
Written by Chris Malta of Entrepreneur.com
If you've been in the retail business for any length of time, you know that the temporary trade shows held across the country each year are a great way to meet wholesale suppliers and find new products to sell. But you may not be aware that most major cities in the U.S. also have permanent trade marts, open year-round.
Permanent marts are ongoing trade shows. They house hundreds or even thousands of supplier showrooms -- the basic equivalent of a wholesale mall. As Jeff Walton, general manager of the Minneapolis Mart, explains, "Trade marts are a retailer's one-stop shopping solution -- thousands of different lines and products all represented in one place."
Mart Benefits and Tools
There are numerous benefits to incorporating merchandise marts into your product sourcing. Their permanence gives you a great deal of flexibility in scheduling your sourcing trips. And many marts don't duplicate merchandise from one showroom to the next, ensuring you have the widest selection possible. Additionally, permanent marts offer many tools to help you get the most out of your visits:- You have the option of working with a sales rep during your visit. Your rep is a knowledgeable advisor who will take the time to understand your goals and help you find the products and information you need to achieve them.
Mart Web sites provide information on their product offerings. They're not meant to replace the hands-on knowledge and face-to-face supplier connections you'll gain by visiting the marts in person. But they act as very valuable supplements for referencing information and placing orders after your visit.
Most marts publish a buyer's directory that highlights their suppliers and product lines and provides supplier contact information, so you can easily follow up. Your directory is also a useful tool for targeting the types of products and suppliers you want to visit, particularly when you're limited by time.
Several times throughout the year, marts will hold temporary tradeshows in addition to their permanent exhibits. During this time, they attract hundreds of additional exhibitors and offer seminars to educate retailers on how to market their products effectively, etc.
Maximizing Your Sourcing Experience
Regardless of the size of the mart you choose, there are certain things to keep in mind to maximize your sourcing efforts:- Realize that, although permanent marts are open all year, not every exhibitor in the mart is open every day. Availability differs from showroom to showroom -- some are open daily; most are available by appointment, even on days they're not open. So if you want to talk to specific suppliers, find out when they're open or schedule an appointment before you go. Setting an appointment is also a good way to guarantee some face time with a supplier and find out how they can work with you.
Understand that most permanent marts are selling wholesale goods at wholesale prices, which means they're not open to the general public. To qualify as a buyer, you must provide proof that you're a legitimate retail business, which means a tax ID number and credit information. Some marts may also require other forms of business ID, such as imprinted business cards or business checks. You can usually pre-register online; some marts even allow you to obtain permanent credentials to make regular attendance easier.
Be aware that some marts specialize in certain types of products. Regional marts, for example, often carry products that reflect the region they are located. The Dallas Mart emphasizes Southwestern goods, while the Minneapolis Mart specializes in Scandinavian products. This doesn't mean that those goods are the only type these marts offer, just that they have a strong presence of them there, in addition to the other products they carry. Before you travel cross-country, it's worth doing a little bit of research to find out if there's a particular mart that's uniquely suited to your product market.
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