Last week we talk about different ways of making a living as an artist or a designer.
Here is what we’re going to cover over the next 7 weeks:
Today we are taking you through option one “What is Retailing?”. What it really means to you and your Business LifeStyle, so you can decide whether this option is a right fit for your art or design business.
So what is Retailing?
- Retailing consists of the sale of goods or merchandise from a fixed location (such as a department store, market. boutique or on line sale) you sell directly to the consumer for his or her consumption. The transaction is generally in a single unit or a small quantity.
Below is an example which illustrates what is retailing and the process.
Lynda wanted to buy a Ceramic Vase. She went to a home ware store and purchased one for a new home .
In the above case, Lynda is the buyer who went to a fixed location (in this case the home ware store). She purchased a vase (Quantity – one) to be used by her. This is a retail scenario.
Designer Markets & Pop Up retail stores.
Almost every artist or designer has had experience in participating in a market stall. Markets & pop up retail stores are the best way for any emerging artist or designer to test their products and also a great way to get market research on what is selling.
Some of the designer markets are open to the public one day per week or some only once every few months. The most well known designer market is Paddington markets
on Oxford street Sydney and the Eumundi
market is a popular artisan market in Noosa. There are a lot of markets out there and you need to find the one best suit your business. The best way is to visit those market yourself to have a feel and check out the stall holders.
Pop Up retail stores
Pop Up Designer markets are increasingly popular, the market events usually showing twice a year and some Pop Up retail stores are open nationally too. The most popular designers pop up retailer event is The Finders Keepers.
The market have a huge following and many emerging designers participate in the event to gain exposure to the market and it a great way to sell your art and design at one popular destination. The markets draw in thousands of people to the event.
Online Retailing (e-commence & Social Commerce) are becoming increasingly popular too as the on line retailer. This concept is fantastic to earn a great income, however it is not an easy task as some people might have thought. It will take a lot of your time to create a successful online business.
Online retailing gives opportunity to businesses who can’t afford to have a fixed location, or a business that doesn’t require one; anyone can set an online store and start trading the goods and services online. This also gives great opportunity for existing retailers who would like to market and capture a wider audience nationally or internationally by having an additional store on line that represents their business.
An online store is a great way to increase your income as your store will be open 24/7 and you can make money while you are sleeping.
What it means to you?
Tune in next week for the second option: