Tiangge. File Photo
MANILA, Philippines - "Tiangge" is a Filipino term for flea market, bazaar, or just a market in general.
At a tiangge, you can find stalls selling a variety of affordable products.
Don’t get me wrong, who doesn’t love going to the mall to do their shopping? For a buyer, a mall compared to a tiangge, has air conditioning, Wi-Fi, and the like, making it a more desirable place to relax, hang out, shop, and bond.
A seller also earns more from stalls or booths set up in a mall. But who can say a tiangge hasn’t got the same perks as mall?
If you don’t believe it, try joining a bazaar and set up a stall yourself.
For starters, leasing a space in a tiangge costs as low as P450 (around US$10) to P15,000 (around US$330) on average and as high as P100,000 (around US$2,200) depending on the duration, target market, venue, and other expenses such as transportation, food, wages (if you decide to hire help), signage and other marketing paraphernalia. If you’re lucky, some even offer free rent for a tiangge stall.
This is quite low as opposed to renting a space in a well-known mall with a 2-5 percent minimum guaranteed rent (MGR) plus the cost of the rent itself.
Of course, you have to recover what you invested, but how?
Choose where you won’t lose.
In choosing a space to rent, keep in mind the areas where people mostly are. The most recommended spot is right near the entrance. In order to get hold of that space, you most probably have to contact the event organizer as early as possible to reserve it.
Style your booth to make it more appealing to the crowd, but keep in mind the traffic flow in your area. Be more creative, as in try to make your booth alluring to your market.
Share and earn.
If your space can accommodate one more person, share it. Pick a partner you trust and whose products complement your own.
Lessen the expense to achieve success.
Quote before you promote.
Always make sure that your products are reasonably priced according to your target market. There will always be lowballers in the tiangge business. So instead of offering discounts lower than what you can give, why not add a little twist to it. Hook up your buyers with promos like “Buy two (2) get one (1)”, or sell the second item of their purchase at a discounted rate, or hand out small gifts with their purchases.
Mix and match.
When you think of items to sell, make sure it’s in season and unique. Most shoppers go to the tiangge to find something unusual at a very reasonable price. You don’t want to sell items readily available at the mall, right? If you can, sell items that you handcrafted together with consigned products to gain profit easier.
Make your business cards available.
Be ready to hand out your business cards and encourage the receiver to share it with their colleagues. Joining tiangge events is a great opportunity for you to market your stuff as you may meet potential clients, suppliers, or business contacts.
Your next step? Take what you've just learned and put it to the test right away... Happy selling!
For questions and more information, you may contact Armando "Butz" Bartolome by email: [email protected] His website is www.gmb.com.ph