Each year, The Merchandiser Group research our network of flea market vendors and proprietors to monitor trends and changes, as well as the overall health from the industry. This season, outcomes display strong product sales and basic growth as a result of an enhancing economic climate. However, even with a stable market, there is always room for more progress.
Much of the steadiness from the present flea market and swap meet industry can be related to its dedicated vets as well as the permanence of many marketplaces. From the markets interviewed, 70% of have already been open up for over 21 years. 38% from the supervisors surveyed have been operating that marketplace for more than 12 years. Of suppliers, 50Percent indicated they have been in the industry for over ten years.
50 Plus% of marketplace suppliers sell at just a few locations, demonstrating a sense of devotion for their marketplace and its community. Ben Campen, proprietor of Smiley’s Flea Marketplaces and National Flea Market Association President, states flea markets, “create a family. We have organizations of individuals who have been vending along with us since we started. There’s this number of ten vendors, who have all been together since the middle ’80s. They’ll have a big party if it’s someone’s birthday. They do their very own potlucks on Sundays. It is great to find out this family members which has been created. It’s also a social thing too.?, even though this is a business?
The relationships and connections which are constructed at flea markets and swap meets are distinctive. People who become involved in marketplaces all have something in typical: “People who are looking for the United states Dream,” says Campen. “Flea marketplaces provide that method for individuals to be successful and stand on their own two feet.” Whether someone is simply starting within the flea business, or perhaps is a business expert, it is usually encouraging to know of other flea marketers succeeding. “People appreciate hearing stories of how other people got within the business and success stores; it is encouraging,” carries on Campen.
A powerful mutual desire for free business, becoming a self-determining business owner, and pursuing the American Dream pulls people with each other within the flea industry. This connection keeps communities together and allows for person market and vendor longevity.
Flea Market IndustryDespite the overall healthful state of flea market financials and developments in systems applicable to promote owners and vendors, this year’s study outcomes indicate technology usage has plateaued in some areas. The majority of suppliers surveyed resource their wholesale items on the internet (66%), and even more prefer to location orders through web sites versus email or phone (85%). However, few individual vendors utilize the internet and social media for their own marketing. Of vendors interviewed, 60Percent do not possess any social media existence. Of the 40% that do use social networking, all use Facebook exclusively. 82% of vendors do not have an internet site. Of the 82%, 87% usually do not plan on ever having one. In contrast, 86% of marketplace proprietors and managers noted having an active Facebook web page for his or her business.
Few retailers are making use of online marketing, however a heightened quantity of vendors are making use of conventional actual physical marketing and advertising ways. 30Percent of suppliers have Put shows at their booths. 28% are marketing and advertising with paper prints – a 20Percent increase from 2015’s results. Vendors are marketing to shoppers already at the swap meet or market, but not marketing their products outside of their markets to draw shoppers in,. That’s the conclusion.
Keeping with Custom
Virtually all (93%) of vendors interviewed market some kind of new products at their booth. Only 22Percent of vendors market antique, utilized, or classic products. Out of the flea market owners and managers who also sell at their markets, over 68% sell antique and vintage merchandise. New merchandise is undoubtedly in-demand with marketplace consumers, with gift and novelty products becoming the top-marketing category this season, carefully followed by knives, and then precious jewelry. For many market consumers there continues an expectation of finding deals and old-fashioned products at swaps and flea markets. Lorna Ingersoll, great-granddaughter from the founding father of Jamie’s Flea Marketplace, conveys, “Flea markets are still traditional, and that’s what individuals enjoy.”
Product Tracking down
New goods are heavily prevalent in today’s flea marketplaces. In which is it products coming from? 55% of surveyed vendors reported utilizingwholesalecentral.com as their top resource for products. When choosing suppliers, 70% of suppliers mentioned that high quality was a very important aspect. Price was ranked somewhat lower; with 66% claiming is an important factor. Low or no order minimal also ranked higher being a identifying factor, with 45Percent of vendors saying it was essential to them.
The primary factors vendors consider when selecting a marketplace are consumer traffic, practical places, and the market’s marketing and advertising efforts. 51Percent of suppliers reported that they would like to see higher shopper quantities at their markets. 36Percent are concerned with way too many vendors having comparable products within the same marketplace. However, concerns over the economy, weather, and vendor competition affecting business have all decreased from last year. General, vendors are experiencing fewer issues with their company. Out of all the locations polled (weather, rising expenses of merchandise, discovering quality providers, increasing costs of room rental, the theft, competition and economy market’s advertising, overstock, and lack of customers), every one had a decrease in the portion of suppliers implying it as being a place of concern compared to last year.
The economy is improving. 43Percent of vendors expect to have annual sales similar to 2015, while 49% anticipate to make more this season than in 2015. 2016 has also seen an increase in shopper quantity, with 74Percent of marketplaces viewing more than 500 buyers every day – up from 61Percent in 2015. This year, 59% of markets document getting over 1,000 shoppers every day.
In addition to an enhanced economic climate, markets are also trying various strategies to participate more visitors. Most flea markets noted that they usually do not charge an entrance fee. 50Percent of companies also indicated that they variety unique events and entertainment like stay music, local celebs, fundraisers, and children’s occasions. Ben Campen reported that in the Nationwide Flea Marketplace Connection annual conference, there were workshops and discussions on various ways to get more business to flea markets including getting more food entertainment and vendors resources. General, “the industry has seen a big uptick,” says Campen. Right here at the Merchandiser, our annual survey numbers underscore the enhancements so we look to ongoing success in 2016 and past.