Sunday 21 May 2017

New Product Gets Traders In A Spin

If you have kids you will have known about fidget spinners for awhile although “awhile” in today’s digital age can be a fairly short time. As far as we know, fidget spinners arrived in the US late in 2016 although it is only in the last month or so that they have really taken off globally.

It is not so long ago that when a new fad arrived retailers could count on getting in early and reaping profit rewards before the mass market got on board. By the time products were copied, manufactured, and shipped, the early adopters had made a reasonable return for their gamble but in today’s retail market that time is drastically shortened.

The first wave of fidget spinners at QVM were selling at $15 and then someone came in with a $5 version which annoyed many (killing the goose that laid the golden eggs) but they ran out of stock and the price followed the old Supply/Demand rule. This weekend at QVM you will find a multitude of traders selling a huge variety of different fidget spinners at a huge variety of prices. We even have one pop-up stall just selling fidget spinners – a competitive retail market at its best and shopper’s heaven.

Reading the ups and downs of pricing and supply in today’s digital age will test many traders. It all sounds like a real buzz…or spinout.

FOOTNOTE: Trader Andy found it rather amusing when he sent us this comment during the week –
16/05/2017 08:07:44      had to laugh            "Got this in email inventive these factories... look at the guy holding his head....maybe this is all we need while waiting for customers...maybe management can supply to all stall holders free of charge.” Andy