78% of people visiting Paddy's Markets said they were interested in trying new products.
They want to be surprised to find product that potentially haven't been 'discovered' yet, or they weren't there to buy. This is the BIG opportunity for new traders to the markets - no matter what category you are in.
It's really important for any business to get the right product, in front of the right customer, when they are actively looking for it. The markets is a great opportunity to do this. It's also a great opportunity to test new products and get direct customer feedback. But, before we talk more about that in other posts, let’s take a look at the 5 types of businesses that have had historical success at the markets (and will continue to do so by keeping the need for discovering the ‘new’ top of their business strategy):
1. Fruit and Vegetables
2. Women's Clothing & Shoes
3. Men's Clothing & Shoes
However, the fact is, any vendor with new products, new takes on old products, or brand new stalls, is likely to do well at Paddy's Markets. People want you to be there - and are ready to buy.
The big opportunity to ALL traders who want to make money at the markets is to look at the customer profile of visitors. These profiles provide clues to the types of businesses that customers may be looking for:
- They tend to be office workers and professionals, followed closely by tradies and manual workers
- Their age groups are evenly split across the years from 15 - 29 yr. old’s, 30- 49 yr. old’s and 50 +
- They live in family households with kids, followed closely by two-person households
- They tend to re-visit the markets – so you have more than one opportunity to sell to this customer
- Price is important to them (however they are likely less sensitive than online customers).
If your business targets these consumers & offers a different product within tech, homewares, toys, gadgets, hardware…. or anything else that these consumers may like, you can set up a stall at Paddy’s very quickly. Contact us for details or assistance if you are considering a stall at Sydney's leading markets - Paddy's Markets.
Paddy's is the leading market's environment for traders in Sydney. When you trade at Paddy's your; trading with some of the most successful retailers in the country. Learn from them. Build your sales skills. create merchandising skills. Compare your approach to product selection and pricing. This is real world knowledge that no university or online experience can provide you as a business owner looking to grow your business. And with over 150 years experience, and hundreds and thousands of customers through our gates, we are happy to share what we know with you - and get your business growing at Paddy's.