I recently received an e-mail from the largest magic wholesaler pushing me to be like every other magic shop and ‘stock’ every item they offer.
Their argument was that curation is bad, here is a snippet:
"I only want to offer quality products that I know my customers will be happy with...."
Sound like you?
Data says... hopefully not.
The data simply shows that customers will shop else-where and I’m losing sales and not making as much money.
I don’t understand how that first statement can be a poor philosophy. They are saying, other shops are happy to sell items they know their customers will be unhappy with! And that is what we want to encourage!
They also go on to say how I could pretend to curate, but actually still offer everything.
The data is correct of course, I do make less money because I am one of the very few magic shops which chooses what it puts on its website.
My business model is madness to the accountants but to me it is the only way. I don’t believe a business exists to make money any more than a car exists to burn petrol. A car gets you from A to B but it uses petrol to run. Monster Magic exists to offer a benefit to the magic community, it uses money to run. I don’t need to get rich to feel Monster is a success, returning customers and appreciative e-mails is more than enough.
Every item on the Monster Magic website is on the shelves at Monster HQ ready to go out the same day. That is very rare because it doesn’t make financial sense.
It is expensive to hold items as a lot of money just sits on the shelves. It is more logical to say ‘Available – ships in 3 days’ and only order products in once a customer has paid. But without having the effect or trick to hand I cannot judge if it is worth buying/selling. How do I know it isn’t a copy of someone else effect? How can I answer any questions about it. I can also send out replacements immediately should an item be faulty for some reason.
I know I lose sales as I say ‘out of stock’ until I have it in the shop, even if it is arriving in the afternoon, so could be sent later that day. In the meantime, customers will buy from someone else with a 3-day shipping time. I accept that.
I don’t want to sell anything I don’t think my customers won’t be happy with but remember if you are dissatisfied you can just return it for a full refund.
Data shows that is a better service.