Reflective Report
My Christmas Fair products consisted of 12 keyrings, 4 stickers and 28 badges. At first, I considered pricing the keyrings at £2 each but was told to raise the price to £4 because other people were selling their products for more. However, I did not want to overprice them, so I found a middle ground of £3 each. It was one of the best decisions I made, as all the keyrings sold out throughout the first half of the fair. It is fair to say they were the most profitable source of income. I think it wouldn’t sell so well if the prices were higher. A lot of people were amazed by how affordable the keyrings were and it was why they sold out fast. Badges and stickers, on the other hand, didn’t sell so well. At first, I priced the badges at £2 each and the stickers 50p each. I didn’t manage to sell any badges throughout the first half of the day. To increase sales, I decided to lower the price by £1. During the second half of the fair, I successfully sold 2 badges, but not because I lowered the price. The reason was my charity poster, which I am happy that it worked, but I am also disappointed in how badly the sales of badges went. It might have been because most people were selling badges at the fair, and people were looking for something more unique. The stickers were no better as I sold only one. It might have been due to the same issue.
What surprised me was that a lot of people were going around multiple times, and once my keyrings sold out, everyone was suddenly asking if there were any more of the fox keyrings. It made me very happy that so many people liked my products. I have some leftover materials, so I could create more keyrings to sell at MCM London alongside leftover badges and stickers.
Despite low prices, I made enough money to cover the materials and make a profit of 17.45£. The only problem I had was the connection issue with the card reader. One of the payments didn’t go through because there was a connection issue with the card reader. Unfortunately, I got notified about it a few minutes after the transaction. It was too late to do anything about it. I wasn’t the only one who had this issue at the time, so it wasn’t the card reader, but the place that had a poor signal. In the end, I lost only £1, but I think there always will be some kind of loss when it comes to sales. In the end, I am happy that the other transactions went well. I also accepted cash, as I prepared some change the day before the fair. However, not many people use cash these days.
I think the stall I shared with Connor was one of the richly decorated ones. The shoe racks we used to display our work and posters. The blankets were also a great alternative that saved us money on decorations. It was a great idea to put social media codes to scan as more people were asking for them rather than business cards. I feel like business cards slowly going out of business as everything becomes digital. However, there were few people collecting them, so for the MCM London, I will design some physical business cards.
I always wanted my business to be recognizable for affordable prices, and this Winter Fair made it happen. However, for the MCM London, I would give the price a rise purely because London is an expensive city. I think people there will find the price affordable, but also it would be interesting to see how my products will sell after a price rise. I enjoyed the overall experience and looking forward to the MCM London comic con.