How to profit from a trade show

?RADE SHOW attendance can

I be a valuable experience for a retailer. Even the IRS considers these functions legitimate business. But many retailers fail to make the most of the opportunity.

Preparation is the key to a rewarding experience. Begin by studying the program and deciding which seminars fit your needs and interests.

If several representatives are going, assign each one to a different session with instructions to take notes for an idea sharing meeting when you return. Prepare a list of possible questions to ask speakers and panelists.

Next, review the list of exhibitors and mark the ones which you will want to contact. Make note of the location of their booths. Share the program with buyers and department managers not going,to learn if they have a special interest that you can check out for them.

Schedule your travel so that you arrive rested and ready to go. Plan to stay at a convenient hotel to cut travel time while attending the show. Needless to say, register early for both the show and seminars, taking advantage of special travel and hotel prices offered in conjunction with the meeting.

Make a list of other dealers, sales reps and association people whom you wish to see during the show. Make notes about ideas you want to discuss with them so that you won't suffer from lapse of memory.

Take along any materials which you need to discuss with these people. Call or send notes setting up appointments.

Prepare your briefcase including the lists which you have readied, phone numbers of anyone you will want to contact in the city you are visiting, writing pads, pencils, calculator, business cards, etc. Leave room for the materials you will acquire.

Spend a few minutes thinking about your wardrobe. A combination of comfort and executive image is essential for both men and women.

Story at a Glance

Methods to maximize your time & money investment in a trade show. .preparationtiPs. ..ways to share seminar knowledge. lollow.up techniques.

Good walking shoes are mandatory since you will be on your feet all day. A suit with at least two inside pockets to hold pens, notepads and cards is helpful. Clothing suited to the climate including raingear is advisable although air conditioning may make it winter in the meeting rooms and exhibition hall.

With these preparations, you are ready to swing into action when you get to the show. Verify the times and locations of seminars you are registered to attend. Locate the booths of people and products which you wish to see.

Seminar attendance will be more valuable if you are an active partici- pant. Take notes and attempt to apply what is being said to your situation. Be open to new ideas. Ask questions. Request additional information on approaches which you can implement in your operation.

If the presentation does not meet your expectations, adapt Your thinking and try to gain something from the materials presented. Collect any handouts for future use as well as sharing with those who did not come. Order tapes of speakers who zero in on your interests.

On the exhibition floor, concentrate first on the booths that you know you want to visit to save time and energy. Then survey the hall, looking for new products. Collea literature for later consideration. Take advantage of special prices on items which you need.

Use some of your time to make contacts with other dealers and sales reps urs well as keeping the appointments previously scheduled. Take time out once in a while to digest what you are seeing and hearing, taking notes for later sessions at the store. Be sure to take several copies of the progmm for sharing and reference.

Try to stay on schedule with meals, refraining from eating and drinking' too much. Get outside for some fresh air and exercise. Walking an exhibition hall is tiring, but it reallY doesn't qualify as exercise. Strive for at least eight hours sleep each night.

Many trade shows offer tours of stores in the area. Take advantage of these and be observant of methods of operation. Make note of the signing, displays, decor, merchandise, €Dployee uniforms, pricing, anYthing that you can apply to your own operation. Be alert for new concepts. Ask questions. Gain as much knowledge as possible.

Make use of the social events to meet people, to extend your contacts and acquaintances. Informal exchanges of ideas can be valuable. Contacts established may be useful in the future.

When you return to the store, schedule time for sharing your information with others. Circulate the literature which you have collected. Send notes of ideas to those involved.

Make a list for yourself of new concepts that you would like to implement. Incorporate into your business as much of the knowledge you have gained as possible. Follow up on any commitments. Make the trade show trip a true business investment.

Retail Slowdown Ahead?

"At the total retail level. the best is over-you can look for slower growth rates in both current and constant dollars for the rest of 1984. If the retailer ignores this and continues to assume that constant dollar growth will be extremely high, he will undoubtedly find himself in the middle of a rapid inventory buildup, and an unexpected drain of profits."

James Newton, director of economic research for Management Horizons, Inc., says "The biggest slowdown will be among durable goods retailers. Those who sell home improvement products will see their total 1984 real sales growth of over l09o dropping off to between 390 and 3.590 during 1985."

Overall, merchandise inflation (reflecting price increases) at the retail level is expected to continue to rise, moving from a reported 2.60/o in 1983. to about 490 in 1984 and 5.590 in 1985.

The short term retail outlook for the United States is based on the following assumptions regarding the direction of the U.S. economv.

(1) Real GNP growth will moderate from its torrid pace during 1984's first half to just 3.590 during the remaining two quarters of 1984, adding up to about 690 for the year.

(2) Anticipated growth during 1985 will continue to soften. with the 3.090 constant dollar GNP growth during the first half of the year moderating to less than 2.590 during the second half.

(3) Inflationary pressures will build, with the GNP implicit deflator jumping from approximately 4s/o in 1984 to over 5.590 in 1985.

(4) Personal income growth will moderate between 1984 and 1985 in both current dollars (9.70/o to 8.890) and constant dollars (5.590 to 3.190).

(5) Very little improvement in the nation's unemployment rate will be seen over the next 12 to 15 months, with the unemployment rate hovering at about 7t/o by the end of next year.

(6) Residential construction has now seen its cyclical peak, with housing starts falling from about 1.8 million units in 1984 to just over 1.6 million units in 1985.

need t0 know how l0 reoair