Welcome to the july 2018 edition of the celebration
Here's what you'll find inside:
BEHIND THE BRAND
IT'S YOUR STORE
Featuring Manuel Martinez from Top Dog Fireworks/Halloween Madness
How to Strengthen Impulsive Purchases In Your Party Store
HIA NEWS & NOTES
HIA Announces Participation in 2019 Comic-Con
HALLOWEEN & PARTY EXPO SHOW UPDATES
Halloween & Party Expo Announces Continued Investment in Buyer Appointment Programs to Enhance Exhibitor and Retailer ROI
BEHIND THE BRAND
Halloween & Party Expo (HPE): Tell us about the history of your brand?
Palamon (P): Palamon was started back in 2006 concentrating on OEM work and the mass market. In 2012, Li & Fung recognized the growth, quality and potential of Palamon and acquired the company for their portfolio. Most of the business was proprietary, but has grown to over 15 licensed properties in a few short years. We are currently the 3rd largest licensed costume vendor in the Halloween industry.
HPE: What products are you most excited about for the 2018/2019 season? Why?
P: The Rick & Morty licensed line of costumes and accessories. It is viewed as one of the hottest costume and accessory licenses in the Halloween industry. The Rick & Morty license just won licensor of the year at the Las Vegas licensing show that's why we are most excited about the line.
HPE: How does the Halloween & Party Expo bring value to you, your brand and your customers?
P: The Halloween & Party Expo brings us exposure that we normally would not get any other way. We are able to show the customers our cost/value relationship. Customers that cannot find us, now can see our product at the show.
HPE: What types of trends do you anticiapte will be popular for this upcoming Halloween season?
P: Classic Halloween characters, Medieval, Glow Costumes, Mystical Witches and Dragons, Cute animal costumes just to name a few.
HPE: What made you decide to exhibit at the Halloween & Party Expo and why?
P: Again, exposure for our line. Since we have really started acquiring strong licenses, we thought it a necessity to exhibit our product for our current and future customers.
IT'S YOUR STORE
Halloween & Party Expo (HPE): Tell us about your business history.
Manuel Martinez (MM): We are a Houston based business and have been in the Halloween business since 2010 and the Fireworks business since 2006. We currently have 14 fireworks locations and 4 Halloween locations.
HPE: What brought you to this year's Show?
MM: I have been attending the Halloween & Party Expo since 2004 so going to the show each year is a must for us.
HPE: What was your favorite product last year?
MM: I always look forward to seeing new products from Tinsley and have been impressed with the recent items from Kangaroo!
HPE: What's the new must have product for 2019?
MM: I feel like the new "must have" product for 2019 is somewhere in the gaming sector.
HPE: What are some new, interesting industry trends you are seeing?
MM: We are strictly a seasonal business, so our focus is on Halloween. What interests me is how some of the smaller vendors are “thinking outside the box” and adding new items to their lines. As far as industry trends to us Halloween is Halloween.
Whether customers are preparing for a 4th of July BBQ, prepping for their kid’s birthday bash or hosting a get together with neighborhood friends, there is no shortage of reasons to celebrate. As a result, party based businesses – such as yours – present year-round opportunities for merchants to increase their profits and push for stronger inventory sell-thru. To ensure your store prepared to capture additional dollars and increase store sales, consider how incorporating an impulsive purchase strategy into your sales efforts can help.
Below, gain three tips that can help your party based business increase inventory sell-thru, enhance customer experiences and strengthen store sales.
Tip #1: Incorporate Signage & Merchandising Tactics That Help Incentivize Customers to Buy More
Let’s face it – not all customers come prepared to your store… or any store… with a clear understanding of what it is they are shopping for. Often, consumers navigate retail spaces with unknown realities of what they want or even need but rather make purchase decisions based on the experience they have in stores. While their shopping intentions may begin with a specific idea in mind – such as wanting to host a game night with friends and finding party supplies to help bring this vision to life – it’s often store merchandising and signage strategies that help push consumers to buy. In fact, with a little TLC and some specific retail strategies, you can enhance your store signage and merchandising to help increase store sales. Through signage, for example, you can share ideas on what your store sells specific to popular parties (such as game night, DIY birthday parties, Girls Night Out, Poker Night and more) so that your customers don’t have to figure out what inventory may be best for their party planning. Additionally, signage can help offer direction on where to find these items in your store and provide insight on additional product ideas they may not have thought of otherwise. Combined with merchandising, customers can enjoy navigating your store and discover what they need for all their party planning needs.
Tip #2: Merchandise High Margin, Low Price-Point Items Throughout Your Store
Want to really increase your store sales? Make sure you’re selling items that have high margins – allowing your business to gain as strong of a profit as possible. The catch? While high ticket items with high margins are always exciting to sell, the reality is lower price-point items have a higher turn-over. Keeping this in mind, consider how introducing low price-point items with high margins can help increase your store inventory turn-over. From $1 bracelets to $3 party supplies to novelty items that range under $5 each, items that are less expensive are more likely to be impulsively purchased. When strategically merchandised by your cash wrap area and other prime locations where customers may linger in your store, customers are encouraged to engage with these items and add them to their purchase. Incorporating mirrors near items that customers may want to try on – such as sunglasses, accessories, hats and more – can help encourage customer engagement and sales, as well. Don’t overlook the value of employee interaction here, also. A friendly “that looks great on your” or “that is a fun product we sell a lot of” are easy strategies to help move more inventory.
Tip #3: Highlight Trend Products & All Inventory That is “Hot” Right Now
From licensed merchandise highlighting the latest must-see movie to on-trend items that demand for customer engagement, don’t overlook the value of selling “what’s hot now” as part of your selling strategy. Cross merchandise these items in many areas of your store so that you can optimize their visibility and – you guessed it – sales, as well. As a result, appreciate increased store sales… something any party business can value!
Finally, party stores don’t always feel like parties themselves. Make sure your store does not fall into this category, though! Set the mood for your party store experience with festive music that changes every day, party-inspired displays that get customers motivated to buy and of course, strong customer service that sends a friendly and clear message that you want your customers to have fun in your store. Combined with the efforts highlighted above, you will be on your way to selling more impulsive based items and as a result, gain stronger sales along the way.
HIA Announces Participation in 2019 Comic-Con
We are excited to announce our participation in this years Comic-Con International in San Diego! HIA is sponsoring events in conjunction with the Costume Designers Guild at Comic-Con to further our relationship with the television and motion picture industry. A highlight of the event is a costume party on Saturday night where we will be featuring a guest judge. We are excited to take part in the show which is expected to attract about 150,000 people.