Product Development and Design

In this episode of Festival Vendor, we delve into the crucial elements of Product Development and Design for event vending. Discover how understanding market trends, such as the rise in demand for sustainable goods, can shape your product strategy. Learn about the importance of a Unique Selling Proposition (USP) to stand out in a crowded market and how prototyping and customer feedback can refine your offerings. Explore the impact of material choices and the power of storytelling through design to resonate with your target audience and build a loyal customer base.

Transcript

Welcome to Festival Vendor, the podcast that takes you on a journey through the vibrant world of festival vending and traveling, as we uncover the challenges, rewards, and inspiring stories of those who've embraced the road and transformed their businesses into adventures. I’m your host Raven, and today, we're unpacking a crucial aspect of your success: Product Development and Design. Whether you're selling handmade crafts, artisanal goods, or unique wares, how you design and develop your products can make or break your success at festivals and events.

Before you even think about crafting your next masterpiece or stocking up on inventory, it's essential to understand the market landscape. Just like scouting out an event before you commit, researching market needs and trends gives you a clear direction. Attend events similar to the ones you're eyeing; observe customer interactions and competitor offerings. Are there trends emerging? Are customers drawn to specific features or styles?

Take, for instance, the rise of sustainable and eco-friendly products. According to a recent survey by Nielsen, **66% of global consumers** are willing to pay more for sustainable goods. This trend isn't just a passing fad; it's a shift towards conscious consumerism that savvy vendors can tap into.

What sets your products apart in a sea of vendors? That's where your Unique Selling Proposition (USP) comes into play. Your USP isn't just about what you sell; it's about how you solve your customers' problems uniquely.

We see a lot of the same kinds of vendors everywhere we go, and there is a pattern in each category that will emerge if you are looking. For example - at every event, usually non-themed ones, there will be several vendors who cater to pets. But what we don’t see very often are vendors who are able to customize those products. We all know how devoted people are to their pets, so consider how much more likely you might be to buy a new collar for your dog or get a bowl for your cat when the products are already cute and interesting - AND you can get your pet’s name engraved or embroidered? In this case, customization sets you apart. I can tell you this works; we vended with someone who was offering this as part of their business, and they were so slammed the entire festival - and it was a big festival. We wound up buying our dog a collar too… By offering personalized engravings on-site, these vendors not only stood out but also forged deeper connections with customers. Personalization invites opportunity for this kind of engagement. When I say “we” got a collar for our dog, I mean my husband, The guy who was, at that point, still professing to not care about the dog. So he decides to get her a cute pink camo collar, but he didn’t get her name embroidered. No, he asked for “hurr durr” which is what he says goes on inside our dog’s head. When he told the vendors what he wanted the collar to say, you can imagine the fun conversation they had about why he wanted that phrase. This personal touch not only boosted sales but also enhanced customer loyalty; if we were still doing that festival, I have no doubt our dog would have a few collar and things with other crazy stuff on it, mostly for my husband's pleasure.

Let's talk about prototyping—your secret weapon in product development. It's not just about crafting the perfect product from day one; it's about evolving through feedback and real-world testing. We do this regularly in one of our businesses. We create a short run of products; we use it ourselves, and if we like it, we offer it our next event. We actively ask for feedback when people stop in our booth, and we actively pursue feedback online and on social media too. When we get a lot of positive feedback, we add it to our line. If the reaction is warm, or certainly if it’s cold - we shelve the idea, either for a later date with some modification, or we just put the idea away completely and move on to the next idea. By creating quick prototypes and testing them at local markets, we can fine-tune our designs based on direct customer feedback. This iterative process not only improves our product but also strengthens our brand reputation for quality craftsmanship and customer satisfaction.

The materials you choose speak volumes about your product's quality and your brand's values. Whether it's organic cotton, recycled metals, or biodegradable packaging, sustainable practices resonate with today's conscientious consumers.

Research by Neilson shows that **57% of consumers** are willing to change their purchasing habits to reduce their environmental impact. By opting for sustainable materials, not only are you aligning with customer values, but you're also future-proofing your business against evolving regulations and consumer preferences.

On a side note, I’m not saying you need to use only organic products or start to recycle everything. But I am saying that it’s wise to understand these trends and incorporate them as seamlessly and functionally as you can. Personally, I use sustainable and organic products as much as I can, and I put that fact in front of everyone who comes into our booth. People do make commentary about that when they see it, but maybe only 20% of the time. It is very, very rare for someone to buy from me because they actively sought out vendors who offer sustainable products. So while a lot of the choice to commit to sustainability and offer products with less of an environmental impact is for me, my own values, I would be ignorant to ignore what the data says. AND - this is going to fluctuate based on your audience. People who attend small shows in central Colorado are going to have different values than those who live in eastern Kansas. 

Your product's design isn't just about aesthetics—it's about storytelling. From the colors you choose to the fonts on your packaging, every element should reflect your brand's identity and resonate with your target audience.

We were SO deliberate with this aspect of our businesses. We started by thinking of a few key words and phrases that would align with themed festivals - words like whimsical or rustic. We wanted the brand to communicate that even when we weren’t doing ren fairs. Our products are colorful and fun and our tent is also colorful and fun - but it’s not a cacophony. Whimsical isn’t the same as erratic. We stick to a specific color palate. We started with a pretty fancy font that we very quickly realized swung too far to one side, so we toned it down. We use very simple, minimal packaging. And, like I said, we have commitments to sustainability and environmental responsibility that we make very visible. So our branding choices allow us to embody a rustic charm that draws customers seeking unique, fun, handmade products while also appealing to their values, and creates brand recognizability at non-themed events OR deepens the immersive experience at themed ones . By staying true to this design aesthetic, we continue to carve out a place for ourselves and cultivate a loyal following.

Feedback isn't just constructive—it's essential for growth. Whether it's a suggestion for a new product feature or feedback on customer service, listening to your customers can drive innovation and improve overall customer satisfaction.

And this isn’t just about which products and iterations of those products that you sell. It’s about things like pricing, or packaging. And it goes right back to knowing your customers, and knowing the market. It’s very easy to give in to pressure, or fear, when it comes to pricing. If a few customers come by your booth and make commentary about the price, that’s something to consider. But if they account for 1% of the total patronage, and your products are selling at a rate you’re comfortable with, then don’t lower the price! Know your cost of goods, know what your time is worth, and then take that information to market. In the case of one of our businesses, we know we aren’t the absolute cheapest. And often, our profit margin is thin. But I do know that we offer value; I know that because I understand the market I’m in, and where I fall in that market. I stick to those guns. I haven’t had to raise my prices in years, and now, what I hear so often is customers exclaiming how well priced we are. By implementing changes based on customer insights, you will not only retain your customer base but also increase profit margins.

As your business grows, so does the demand for your products. Scaling production requires careful planning, from sourcing reliable suppliers to streamlining manufacturing processes.

The general industry standard is that **efficient inventory management** can reduce costs by **up to 30%**, allowing you to reinvest savings into product innovation or marketing efforts. There are several programs and apps out there that can help you manage inventory. If you go that route, find one that will serve you now AND later. I have a program I use for many aspects of one of our businesses, but largely, we use Google sheets, and we have found that to be very accessible and useful. If you aren’t a Google whiz, there are a lot of great folks on fiver who will work with you to develop a google spreadsheet that will work specifically for you and your business. 

If you aren’t managing inventory yet, then start TODAY. Nothing gives you better data to grow on than knowing how much of what is going where, and how much all of it costs. 

Product development and design aren't just about creating goods—they're about crafting experiences that resonate with your customers. By understanding market trends, defining your USP, and continuously refining your products, you're setting the stage for success in the competitive world of event vending.

Thank you for hanging with us today! Stay tuned for more insights and stories from the world of event vending. Remember, your journey as a vendor is unique, and every challenge is an opportunity for growth. What’s your approach to development and design? Or do you have other questions about the vending journey? Join us on the festival vendor Facebook group, or Leave us a message by clicking on “Send us a text message” on our Buzzsprout page. We read them all!

And speaking of engagement - if our content is helpful or just fun for you, please consider subscribing or just buying us a coffee - links for both are in the show notes.

Until next time, happy vending, and I’ll see you at the fair.