Is Panels Worth Their Value?

IcezSeven

Hi,

I am thinking of setting up my products on panels at retail shops but realise that the panels are quite expensive. Just wondering if it is worth the rent? Please advise.

Regards,
Serena

EarthlyScents

It really depends on your products and your target buyers. Do weigh the pros and cons.

Consider this:
1) The kinds of products
2) Target buyers
3) Space
4) Budget
5) Services provided by shop-owner
6) Take note that sales-assistants provided will not be actively promoting your products as there are many other vendors whose products also demand their attention. Therefore, not exclusive and attention devided.

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minikelvin

i think location and targeted consumers are also very important

IcezSeven

I selling apparels and accessories and targeting Office Ladies as well as teenagers. Space is no problem to me but then I like to know is the sales. Coz I observe alot people always move in and out the shop but dun buy anything...

ahpeow

Hi,

Just like to share my experience. I am currently renting a panel for my products (pouches) and I have been running for a month only.

In fact, there are people that buy. But whether is it good enough to even have a decent turnover is still a question. You have to somehow relate your cost per item to rental cost per day.

For example, you may rent a panel space up to S$300.00 per month. So your operating cost per day need to be S$10.00 minimium (S$300/30day, excluding your product cost). So, you need to do some market observations, price your products accordingly in order to cover back and make profit.

I am currently make a loss. Still need a bit more to cover my rental, needless to say, I have not counted my product cost yet. And do not expect the sales gal to push your products much (depending on your products too, ladies apparrels is a "like it or not" thing, no technical functions at all) I may not want to continue once the contracts ends.

I ask a close friend of mine who is in retailing. His advise is that it is not easy to see positive results in short term. It takes time and refining. Furthermore, only year end is consider as peak period, when there are more buying power.

Guess have to endure through and think hard in this period. A little "school fees" is unavoidable.