The first quarter of every new year is probably the best time to plan new product releases.
Retailers are always looking for new items — which does not mean they plan to replace their best sellers! Buyers are constantly on the look-out for new and unique products — especially if they are a smaller or locally owned shop.
According to The Arts Business Institute…
Most retail stores depend on repeat customers. Those shoppers come in to see the latest and greatest new merchandise that the store has to offer. If they keep seeing the same old merchandise, they move on to new pastures.
NOTE: This is also true for buyers. If they keep seeing the same old products that aren’t selling well in their stores, they will move on to a new line of items.
Stores also need to replace slow selling lines that they no longer wish to carry. This means the store must keep moving forward with updated designs and new lines on a regular basis. As one of their vendors (or as a prospective vendor) you must keep this in mind and have new collections for them.
Although stores look for new items year round, the best time to introduce new products is in the early winter when buyers are restocking for the new year. Often, this is also the time for most winter trade shows where some buyers attend in the hopes of finding new products for their stores.
The Arts Business Institute goes on the explain…
Wholesale buying goes in cycles – and that cycle will depend on your industry. Is Christmas a big selling season for your line? The new release for fall and winter should be ready to display and take orders in June or July at the trade shows, when those orders will be placed.
January is another perfect time for new product releases, as the buyers must fill their shelves after the holiday season – and they will be on the lookout for fresh merchandise! The next time a buyer asks, “What’s new?” you will have an exciting collection ready to present, and sell.
Although we are late in the buying season, my Idaho Gifts Wholesale site continues to generate orders and will probably continue until May or so. Trends depend on your product line and the type of stores you sell to. Nothing is written in stone — these are just guidelines!