The International Premium Cigar & Pipe Retailers (IPCPR) annual trade show starts later this month and we’re looking forward to the opportunity to meet many of our retail partners. The IPCPR trade show is perhaps the most important week of the year for cigar manufacturers, retailers and wholesalers. For exhibitors, it’s an opportunity to showcase newly released products, highlight their portfolio of products, and offer great deals to their customers. Retailers attending the show look to increase their profit margins, seek out new vendors and learn how to improve their business. Santa Clara is here to help you maximize your IPCPR trade show experience! In this month’s Retailer Corner, we offer advice to our partners to help this be their best trade show yet.

Before leaving for the trade show you should always create a budget for your business, so you don’t overspend on product at the show. Regardless of the size of the companies, most retailers and buyers come to the trade show with a fixed budget. Some will have a flexible budget allowing them to spend more than they expected if the deals justify it. Here’s one key tip: bring an inventory recap and movement report with you to make buying easier – and prioritize your needs.

Even though the IPCPR trade show is four days, it’s still nearly impossible to visit every booth on the trade show floor. It’s important for buyers to have a game plan and schedule. Bigger manufacturers and popular boutique manufacturers often have very crowded booths the first two days of the trade show. If you plan on visiting those booths, schedule an appointment with your sales representative ahead of time to avoid waiting. Time is a precious commodity during the trade show, and you want to be as efficient as possible. If you can’t get an appointment during the first two days, plan to visit other vendors that have the availability, and then circle back to those other booths the last two days of the show. Use the first couple of show days to visit smaller booths such as Santa Clara and smaller premium cigar companies.

One of the most important aspects of the trade show is the show deals – deals that can help you save money, increase your profit margins and increase your return-on-investment (ROI). But before taking advantage of a show deal, ask yourself: 1) How long will it take me to sell through the product I am buying? 2) Is my discount bigger than my carrying costs? 3) How does this deal impact my trade show budget?

Selling through your product in a timely manner is imperative to keeping your carrying costs lower and maximizing your ROI. If a manufacturer is attending the show and not offering deals on your normal inventory, then you might be better off allocating those funds to brands that you can save money on. Typically at the trade show, look for deals that can save you at least a minimum 10% — or better 15-20% off. Santa Clara Cigars, for example, is offering fantastic deals this year that save you up to 27% off.  Deals like this are typically only available at trade shows and can strongly benefit your bottom line. Remember, when buying on deals, it’s necessary to use cost-benefit analysis when making decisions.

Many retailers specifically come to the IPCPR to learn about newly launched products, new manufacturers and limited-edition brands available for the first time. These releases often create an excitement in our industry that is palpable for retailers and adult consumers alike. It’s important for retailers to consider carrying these items, because the industry has become more-and-more fixated on these brands. But before bringing in a new vendor, first decide if there is a demand for that manufacturer’s product and, second, how much space their brands will take up in your store.

Some manufacturers require you to buy a minimum number of facings for your store, so you need to figure out before the show how much shelf space you have available. Now when it comes to limited-edition cigars, the best advice we can give you is to not over-buy on these brands. If a manufacturer is already popular in your store and releases a limited-edition brand at the show, it’s generally a good idea to bring in this release if the price is affordable for your customers. The mistake many retailers often make is buying too much of a limited-edition item, and then not being able to move the product. The demand for most limited-edition cigars is generally short lived, so if you overbuy you risk getting stuck with product.

We trust this month’s edition of the Retailer Corner will help you prepare for IPCPR. Please be sure to see us at the show. We will be located at booth #2222 and ready for you to take advantage of our amazing deals, view some of our newest products, discuss your account, get some free promotional products and learn more about how Santa Clara can help your premium cigar business. For over 48 years, Santa Clara has been the nation’s most trusted provider of premium cigars.