Market Ready research

Regardless of what you sell or do there will always be people who have similar ideas as you and that makes it a competition for you. In order to get customers it is important to stand out from the crowd and in order to do that we need to get to know the crowd. Our research team went out to investigate and interview market traders who sell their products on three selected markets: Sunday Upmarket, Old Spitalfields Market and Vintage Market. I will include one interview from each and then summarise our findings.

Sunday Upmarket 

First, was a woman who sells her custom designed and hand-painted t-shirts and trainers.

  • What do you think of (in terms of display) when setting up your market stall?

I try to make it quite colourful, eye-catching and I think that it’s important to have the goods displayed on various levels (not on a flat surface only).

  • How do you decide what to sell and rise above your competitors?

I don’t really. I’m a painter so I’m just using my skills for sale and for what I like to do, really.

  • How do you promote yourself?

Facebook for now, as I have only just started two weeks ago.

  • Who are your customers?

Mainly women and families.

Old Spitalfields Market Research

One of the traders was a man that was selling things to make big collage on the wall instead of tapestry

What do you consider when setting up your stand?

  • If the stand look good and I make sure the products are easy to look at for the clients

How do you decide what to sell and you run against your competitor?

  •  I make sure I don’t sell the same things as other, because here everyone is a competitor. You really need to sell something that no one else sells

How do you promote yourself?

  • here at the market I don’t promote myself, by I have a web shop, facebook and instagram, and it works very well

Vintage Market

Few more questions for the trader

What do you need to consider for your stand?

  • locate stock you gonna sell
  • style of your business
  • location, which market, temporary/permanent,
  • what kind of customers go to this market
  • lighting

How do you promote yourself?

  • people who own the market do the promotion, I use instagram

How do you decide the price of your products?

  • I look to other stand, shops or other which sell similar product and I make up my mind

Things to take into consideration when displaying products:it cannot be clattered, aesthetics, lighting, items must be visible to attract attention, display on various levels not just flat surface, think of a colour scheme, try interactive approach.

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