A recent expedition to update the Christmas décor in our home illustrated one of the challenges facing retail florists. On this particular day, I visited two flower shops, one with a slightly higher-end array of giftware, the other with a more extensive selection, but usually at the lower price point. My third stop was at that good old Canadian institution, Canadian Tire, for the latest LED Christmas lights.
The crossover in merchandise was a wake up call. Both of the flower shops had the same particular frosted trees I had been coveting. The first, being the higher end had the largest and therefore more expensive, the second in keeping with their target customer had a smaller version, and the lower price point. The third had the smallest and least expensive of all. You are correct if you noted that I didn’t go to a third flower shop. This was Canadian Tire! Our favourite hardware store is in the home décor business in a big way.
It was not news to me that mass merchandisers buy from the same wholesalers that independent flower shops do. I have been to enough giftware shows to recognize that our universe has become a homogenous market where buyers are exposed to the same goods from a variety of vendors. What surprised me was the lack of time between the higher end debut of the product and the mass-market consumption. The giftware industry has caught up to the fashion industry where the knock offs are on the rack by the time the haute couture shows are over.
Florists have the distinct advantage of having design staff that can add value to a product, as well as creating one-off arrangements to set them apart. But this advantage may not be enough. To capture more of the non-floral gift related dollars, florists need to reevaluate their purchasing. Now is the time to seek strong relationships with key suppliers who can provide you with distinctive merchandise that will help you maintain a niche in the market.
It’s also the time to consider alternative supply sources to supplement your inventory. There are many artisans displaying their crafts at shows such as the One of a Kind show in Toronto, and others throughout the country. Here you can find quality merchandise from a supplier who can produce enough product to supply a few independent shops, but isn’t ready to supply a mass merchandiser. Many parts of the country host artisan tours where you can meet artists at their studios and review their work. Smaller regional gift shows may also turn up treasures that the buyers from large retailers won’t be exposed to.
By constantly searching for the best merchandise that defines your customer, you’ll be able to rise to the challenge of global retailing in 2005 and beyond.
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