Just a little helpful hint:
Limited edition color/product is fun but trendy - for newer consultants it is wiser to introduce your new clients (at appointments) to staple colors that are in the permanet line so when they go to reorder, they can replace what they have been using. I reserve the limited edition colors for my established clients (as in showing the colors at appointments)- and those that specifically ask for them and let them know they are limited edition and trendy (time/season sensative) so that they are not disappointed when they go to reorder them and if they really love a product, they can purchase a couple to have on hand.
It is wise not to overstock on these items because after the quarter/season, they will no longer be in our Look Book and will be much harder to market. So overloading on limited edition product that after the Season is much harder to market is not a wise financial move for your business. Also - clients aren't as likely to be disappoited if they have to wait a few days for you to deliver a "specialty" item if you decide not to stock the limited edition line as they would be waiting for their skin care.
Run your bizz - money smart!!
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Great post, mk4me!
ReplyDeleteI don't order a ton of - well anything really - and certainly not a limited edition product unless I know/or feel pretty certain I can sell it. That being said, it's kind of a hit or miss situation. I have a few extra pinapple sets from last fall, but I had a couple customers who wanted the loose eyeshadow a month later, but it had been sold out already.
What do you ladies do with your limited-edition or discontinued products once they are no longer being advertised? Hostess gifts? Discount? Any ideas?
These are some beautiful colors I think these are going to sell very well! MK has always been on top when it comes to the glamour colors I think they are on par with any high colored competitor.
ReplyDeleteI use outdated (meaning no longer in the Look Book, not expired) Limited-Edition products as hostess thank you gifts (not hostess credit, but a thank you gift I present at the beginning of the party), thank you gifts for guests who attend MK events, and as gifts with purchase for other clients. Granted, I don't use a $30 body care set as a thank you gift or gift with purchase, but I would break it up into 2 or 3 parts. Or if a client spent enough with me (I had a client spend $300 a couple weeks ago and I handed her a free Satin Hands set), I would give her a $30 limited-edition set.
ReplyDeleteWhenever I have an open house, I always have a "pink sale" table that is for discontinued or previous limited edition products. Everything on that table is 25-40% off. I figure if it's discontinued then all I care about is getting reimbursed for what it cost me.
I got my spring stuff today. I'm about to post a review. I would encourage customers to buy while they can b/c this is excellent stuff.
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