Footwear Insight - Business Report Quarterly

sales forecasts to determine the optimal amount to spend. is will help prevent cash flow issues, excessive markdowns, and ensure you have the right products at the right time. E. Strategic Adjustments: I. Increase Investment in Top Performers: Allocate more budget to brands that have demonstrated strong sales and profitability. ese are the brands that turn over quickly and provide a high markup. By increasing your investment in these high- performing brands, you can maximize your overall return on investment. II. Reduce or Eliminate Underperforming Brands: Evaluate brands that have not met your performance standards. If certain brands consistently produce below- average results, consider reducing your orders from them or dropping them altogether. is will free up budget to invest in better-performing brands and ensure your inventory is optimized for profitability. Are there strategic reasons that you are keeping lower performing brands (or duplicate assortments) in your mix? ere could be — just make sure you are making an informed and reasonable decision. 4. Network for Insights: Networking with others to understand their experiences is invaluable. 5. Schedule Appointments: Shoe shows can get incredibly busy. Schedule meetings in advance with key contacts. 6. Pack Essentials: Comfortable shoes are a must for a shoe show. Additionally, we bring business cards, a notebook, and a portable charger for our devices. NAVIGATING THE SHOW On the Ground Strategy Once at the show, our approach is a blend of structured meetings and spontaneous exploration. 1. Early Bird Advantage: Arriving early helps beat the rush and allows us to engage with exhibitors when they are fresh and more likely to give undivided attention. 2. Efficient Mapping: is is where we disagree. One of us believes a starting point is visiting the must-see booths first. is ensures that we accomplish our primary goals early in the day, leaving the rest of the time for exploration and networking. e other one of us feels following the map and traveling every aisle makes the best sense. 3. Engage and Inquire: We make it a point to engage deeply with exhibitors. 4. Take Notes: Detailed notes are crucial. We jot down important points, take photos (with permission), and mark line sheets with a confidential code to grade each item. Remember that not everything in the vendor's bag is a winner. 5. Stay Late: We plan to stay late, as the l ast day of the shoe show offers an opportunity to go back to the booths and not be distracted by the people who insist on coming in for only the first day or two of the show. is quieter time allows for more in-depth conversations and a thorough review. 6. Dinner Meetings. Make those investments of your time at the show worthwhile. NETWORKING Building and Maintaining Relationships Networking is one of the most valuable aspects of attending a shoe show. Our approach includes: 1. Active Participation: We attend workshops, panel discussions, and social events. ese are golden opportunities to learn and connect with industry leaders and peers. 2. Be Approachable: A friendly demeanor and genuine interest in others' work make for memorable interactions. Meaningful conversations foster lasting relationships. EMBRACING INNOVATION Staying Ahead of Trends Shoe shows are about spotting trends and innovations. Monitor Market Trends: Stay updated on industry trends and consumer behavior. Understanding what's trending can help you make informed decisions about which brands and products to invest in. Here's how we stay ahead: 1. Trend Analysis: We pay close attention to what's trending. Whether it's sustainable materials, new manufacturing technologies, or the latest in comfort or design, understanding these trends helps in making informed business decisions. 2. Feedback Loop: We engage in discussions about these trends with other attendees and exhibitors to gauge their perspectives and validate our observations. REFLECTING & IMPLEMENTING Post-Show Strategy e work doesn't end when the show closes. e follow-up phase is equally important. 1. Strategic Follow-Up: Following up on leads, setting up detailed meetings, and discussing potential collaborations are immediate priorities. 2. Evaluate and Plan Ahead: We evaluate the overall experience – what You need to make the most of your time; your job is to use the time to positively impact your bottom line. footwearinsight.com Q2 July 8 2024 ~ Footwear Insight Business Report Quarterly 29

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