Retail Guru » Buying

Wholesale Apparel Buying For The Independent Retailer

admin — Fri, 29 Oct 2010 11:59:55 +0000

With retail sales down for the last year Wholesale Clothing Companies have really cut back on their production. What does this mean for the independent Retailer? Merchandise, or at least good merchandise will be harder to find. There is a glut of merchandise on the market right now. My phone is ringing off the wall with offers. But it is the wrong merchandise.

As a Ladies Clothing buyer I have to be really careful about what we put in our pipeline. I am not concerned about merchandise availability because that is my job. It will just be a little rougher on me to dig for the right items. The independent retailers buying through the normal channels, direct from the manufacturer are the stores that need to worry.

Manufacturers years ago forgot about independent retailers. They are more concerned with larger chains and big box retailers that can drive their cutting tickets. The result is that independents to manufacturers are after thoughts. If the chain and big box guys don’t take the goods, then they want the independents. Some will disagree, but I lived it working for a large manufacturer before starting Julie Ann, and I see it every day.

I was at a manufacturer recently and saw orders going to Ross Stores at the same time they were shipping to smaller retailers. What is that all about? Used to be manufacturers would wait for reorders before dumping their left overs. Like I said, an after thought. Wholesale Clothing suppliers like Julie Ann (if there are equals, lol) cater to small retailers. We support them, with smaller minimums, large selections, and immediate shipping.

So my advice to the independents, is don’t worry, be careful which manufacturers you place your trust in, and I mean trust in knowing that you will receive your order. Buy closer, and watch your inventory. The best idea is to work with a wholesale clothing company, or companies that meet your needs, allowing you to buy closer to the season, and meet your inventory needs on a weekly basis, and not months in advance.

This change has been in the works for years, now is the time to take full advantage of it. Retail merchandising is all about merchandising your store, and trusted resources are the key. Using them wisely will allow you to conserve cash and meet todays trends, and not predict trends three to six months away. They most importantly allow you to buy what you need, and not what the manufacturer wants you to buy.

Here is a great example. We have Dennis Basso coats in stock. They sold well when we bought them in October, to colder regions of the Country, and Internationally. But in all honesty, it wasn’t till this month that we saw reorders and increased sales.

Manufacturers are out of the best styles at exactly the time you need them. We are not…This is what I mean when I say that a good Wholesale Apparel company will have this merchandise when it is retailing best. Something to think about as many of you travel to shows to see and order what might be selling in the next months….or you can save the money and spend it on merchandise you can sell today, and in some cases not travel except to your laptop and view the merchandise online.

By Jonathan Gordon

Exclusive – Tips On Buying A Diamond

admin — Sun, 10 Oct 2010 06:36:32 +0000

Exclusive – Diamond Buying Tips

Buying a diamond is one of the most important purchases that you will make in your life, whether it is an engagement ring, wedding ring, loose diamond or jewelry for a loved one it is extremely important to put lots of thought into your purchase. Here are some tips on buying diamonds that will make sure you find the diamond that you want at a fair price.

It is important to educate yourself on diamonds before ever stepping into a retail store. Learning about diamonds is the biggest advantage that you can have in the buying process. Not only will being educated about diamonds help you get a fair price and understand if the diamond is a good value, but knowing about diamonds will help you choose a diamond more to your liking.

Start off learning the basics including the 5 C’s which are carat, cut, color, clarity, and cost. These are truly the main foundation of good diamond knowledge. Since most consumers already know about the 5C’s which are usually covered extensively, here are some tips on learning about the actual buying process in a retail or wholesale diamond environment.

As in any industry, there are good establishments and bad establishments. While at the retail level fraud is rare, you might find people that are willing to take advantage of a situation. A good retailer will try to help you find the diamond that is right for you. A good retailer will also take their time with you and ask you lots of questions.

Be aware of retailers that will immediately try to up-sell you on a diamond. They might not be interested in what you would like and automatically try to persuade you that a specific diamond is the diamond that you should look for. Beware of these types of retailers; they may be trying to get rid of hard to sell diamonds due to quality issues. A good retailer will also help educate you on what is a good diamond and the various traits of a diamond that are beneficial or decrease its value.

When buying a diamond from a retailer it is also important that they disclose everything about the diamond, that they tell you what is guaranteed and what services are included. A shady retailer will usually give you as little information as possible, will not write anything down and will just nod his or her head saying, don’t worry, everything is good.

If you want to find a reputable diamond dealer contact organizations such as the Better Business Bureau to see if a retailer has had complaints in the past, there are also diamond organizations that can point you in the right direction such as GIA (Gemological Institute of America) and American Gem Trade Association.

Once you find a good retailer and choose a stone, before purchasing it, ask to get it appraised by an independent appraiser. If the retailer says absolutely not, walk away from the sale. One of the strongest advantages that you have is having the stone independently appraised. A good retailer will give you the stone for it to be appraised by anyone you would like. You can have it appraised to see if the clarity, carat and color match what the retailer stated, and also to find out if there are any treatments such as fracture filling or color treatments that would decrease the value of the stone.

It is important for you as a consumer to exercise your preference to have the stone independently appraised. Some retailers will demand that you have it appraised by a certain appraiser. This should not be acceptable; you should be able to bring it to any appraiser that you would like.

Not only will an appraiser help you determine the quality of the stone, but will usually give you a dollar value for the stone. Some appraisers will give you both a retail and wholesale value for the stone (Retail prices are usually higher than the wholesale cost). Armed with this information will help you determine if you are getting a good deal on the stone or paying top dollar. This information will help you if you need to negotiate a fair price with the retailer.

Buying a diamond is one of the most important decisions in your life, so make sure you put lots of thought into the purchase and protect yourself using your diamond knowledge, independent appraisal and consumer organizations. Purchase your diamond the right way and you and your loved one will enjoy the diamond for many years to come.

Article from articlesbase.com

How Touch Screen Technology could Revolutionise Retail

admin — Mon, 13 Sep 2010 04:22:46 +0000

From simple written letters to the revolution of the internet, retailers have strived to find new and appealing methods of interacting and communicating with their customer base as well as improve efficiencies for both customer & business. And with the dawn of a new touch screen era at hand, could we see more of our online buying experiences be brought to the retail stores of the future?

As the years go by, the retail buying process continues to be fine tuned and we learn more about what stimulates customers to go from an uninformed prospect to the exchange of money at the till in store. All parts of this process could dramatically change over the years to come thanks to touch screen technology. Let us enter the shop of the future.

Picture walking along a local high street and a product in the shop window catches your attention. Rather than simply looking at the item through the glass, some advertising related to the product in question pops up in the window and transmits the advert to your I-Phone or other web enabled phone via bluetooth.

Alternatively, the shop window will have touch screen technology, so the shopper can find out more about the product, even place an order by logging in – very appealing for shops that can offer 24/7 shopping even when their store is closed.

Entering the store to browse further, the traditional paper catalogues that are scattered around the store are replaced by fully interactive sleek glass touch screen tables and counters that allow you to browse the full product range and pull out all of the products details, zooming into images and even running videos.

Clicking, dragging, and swiping your finger all the way to the perfect product to purchase in no time at all or building a list of products to compare. And if you are stuck for time, transfer the details of the product to your phone to continue your shopping later.

Having this interaction with the customer in store also improves the efficiencies of the business to suggest through the touch screens either alternative products (upsell) or complimentary products (cross sell), offering the customer a better purchasing experience and the business a healthy increase in customer spend.

If you choose to purchase in store, you confirm your purchase at the touch screen counter, while a sales advisor stands ready, waiting to pounce in the event of a problem, much like at the supermarket self service points.

To pay for the item, a sales assistant, who only required minimal training on the easy to use touch screen checkout, accepts your method of payment and passes the product over in no time at all. Exiting the store, the same glass window that had originally invited customers to enter with advertisements is now sending over to the shoppers phone a new promotion of money off vouchers straight to the phone, enticing you to come again.

And to obtain real time feedback of their buying experience, a survey is sent to the users touch screen phone with a personalised incentive based upon the buyers shopping pattern.

The concept of touch screen technology integrated into shop fittings would be a fantastic evolutionary step for retail, however the next big compatibility hurdle to cross is also the most obvious – the customer. In order for the evolutionary step to occur, the customer needs to not only be able to use the technology but also comfortable with using it.

But the greatest progressive stride for the retailer is that the experience that many smarter retailers are able to offer online can start to be offered offline. And for most of us who have been interested in Marketing for too many years to count, the utopia ideal of being able to deal with your customer at consistently every touch point might be conceivable. But it is just science fiction … for now.

Article from articlesbase.com

4 Steps to Reduce Costs for Your Dollar Store Business

admin — Fri, 18 Sep 2009 20:54:51 +0000

Those who own a dollar store business are faced with ever-increasing merchandise costs. Yet, for most dollar stores there is a cap on the retail selling price. For these retailers rising costs can’t simply be passed on to their shoppers. Yet to remain successful these retails cannot stand by and assume the role of the victim.

Their choices are to accept lower profit margins, change the entire format of their store, or to somehow hold, or even reduce the cost of good sold in their store. Successful retailers will face the merchandise cost challenge head-on and develop a strategy that works for their situation. In this article I present 4 merchandise cost reduction tactics for your dollar store business.

1. Make merchandise cost negotiations a part of every merchandise order. As the economy slows, it isn’t just retailers who are challenged. Many wholesalers are feeling the pinch as sales slow as well. Some of these wholesalers may be willing to sacrifice a little margin to gain the sale. You may also find that there are some specific slow-selling products, or targeted purchase amounts that will gain you a price discount on the order for your dollar store business.

You will never know the exact opportunities available unless you ask. That means you must invest more time contacting suppliers. You must ask about your options. You must make offers that benefit you. Invest the time in managing your purchasing. Make cost negotiations a part of the purchasing process to minimize the prices you pay.

2. Make freight cost negotiations a part of purchasing. Just as merchandise cost needs to become a part of every purchase transaction, freight costs are no different. Make freight expenses a part of discussion when you are purchasing merchandise for your store. Request that your order come with a freight cap. Also discuss the possibility of freight credits against merchandise cost.

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There are many companies that offer pre-paid freight when certain criteria are met. Locate those companies and compare pricing; you just might save some money. Invest a little time each week speaking with new supplier prospects and freight haulers to locate the very best deals for your dollar store business.

3. Buy when there are sales or discounts available. Start focusing on wholesalers and distributors that offer weekly or monthly specials and closeouts. Often these sales will include high-volume products in your store. This is your chance to stock-up on merchandise that you know will sell. Start shopping those special and closeouts with all vendors before you place your replenishment merchandise orders with your regular vendors.

4. Use reduced sales by other retailers as your buying opportunity. Now is the time to get creative. Start examining the non-traditional merchandise sources. With the overall retail market slumping there are some real deals in the shelf-pull, overstock, and closeout marketplace. While you will need to buy with care, the prices are deeply discounted, and many times the merchandise will thrill your customers. It will take some time to properly learn this marketplace and the reputable companies in the marketplace. However, when done right, the prices paid can be a real positive influence on your dollar store business bottom line.

To your dollar store business success!

Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer. www.OpeningADollarStore.com

Retailer Agreements and Their Importance For Goods and Services Distribution

admin — Wed, 16 Sep 2009 04:35:22 +0000

A retailer is a business or firm that is engaged in offering services or goods directly to customers, or consumers. Retailers are usually concerned with selling some sort of merchandise. Such businesses generally sell individual or small groups of products to a large number of customers.

This retail industry is a huge piece of the United States economy. Naturally, it is important to execute a binding retailer agreement when determining the rights of a particular buyer who is a retailer and a seller who is supplying that retailer.

A general product retailer agreement will cover a number of issues. First it will state specifics such as the names of the parties involved and addresses as well as the dates that the agreement will be valid. It will then specify exactly what products are represented in the agreement.

The price and quantity will be specified as well, along with the responsibility for taxes. The details of what payment will be made, along with how and when it will be rendered will also be set forth in the retailer agreement. The issue of shipping will be addressed, as will any return policy.

There may be notices and product modifications to be addressed. In addition, any warranty and liability will be set forth. Any miscellaneous issues will also be stated in writing in the agreement. Issues of Force Majeure as well as disputes should also be covered in the agreement. Finally, both parties will sign and date the document.

Retailers often find themselves in a very competitive business, and many new retail businesses do not last long. This is one of the many reasons to cover all of your bases with a detailed retailer agreement. There are a number of different types of retailers that may be involved in a retailer agreement.

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A retail business can be owned independently or as part of a chain, which is simply two or more stores with activities that are decided and synchronized by one management group. Most retail businesses will fall easily into a type or category, but more and more businesses are merging the boundaries in an effort to appeal to more consumers.

Department stores, supermarkets, and specialty stores are some of the most common types of retailers. Then there are so-called discount stores. There are also mail order and such retailers who do not actually operate a “store.” Since the internet market is expanding so quickly, this type of retailer is becoming more and more common.

It is important to keep in mind that no matter what type of retailer you are or what kind of retailer you are doing business with, the best way to protect yourself is through clearly spelled out documentation. This is why a retailer agreement is so essential.

You can consult an attorney to have this contract created, or you can search online to find one of the many online companies that provide legal documents such as retailer agreements ready-made in a fill in the blank format.

Mark Warner is a Legal Research Analyst for RealDealDocs.com. RealDealDocs gives you insider access to millions of legal documents drafted by the top law firms in the US.

Increase Savings by using Consumables Judiciously for Retail Business

admin — Tue, 15 Sep 2009 21:37:03 +0000

No matter what business we are in we need to maintain as high a profit margin as possible. For retail business this isn’t always easy of course but we all do our best to identify areas in which we can save money. But one area which is often overlooked when we are looking to control our budgets is what we spend on consumable products.

Supplies that we use on a daily basis such as till rolls and ink ribbons can add up to a hefty cost over the course of a year if we aren’t prudent about picking the right price and supplier for those products.

Till rolls are, of course, necessary for any business that offers goods and services to the public. Unfortunately, businesses often spend more than necessary on till roll paper and related supplies, and since these are consumable items, the cost can begin to add up quickly. If you need to cut costs to increase the profitability of your business, choosing the right till roll paper can help you achieve this goal.

The obvious first step is to find a supplier who is able to supply the products at a competitive price. Remember that supplier pricing may not be consistent across all product lines. In practical terms, this means you should comparison shop for companies that offer competitive pricing on the types of till rolls that you use most frequently.

Company A might offer a better deal on single-ply till rolls, whereas Company B might have more competitive pricing on double-ply till rolls. Choosing a supplier that offers the best pricing on the products you use most frequently will maximize your savings.

Finding a supplier who offers the most competitive pricing, and don’t forget to factor delivery costs into the calculation, is the first step but then you will want to compare the different till rolls performance as well as their cost.

Of the different types of till roll by far the cheapest option are the single ply rolls. Grade A paper is brighter than the standard off-white economy paper, but isn’t necessarily more expensive. This is the best option if you don’t require carbon copies of printed receipts.

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Many cash registers can quite happily print duplicate receipts. When it is necessary to produce more than one copy of a transaction (some retailers like to keep actual copies of a receipt as well as providing one for the customer) the retailer will need to consider the cost of single ply paper compared to the more efficient multi-ply paper.

The great benefit of multi-ply paper, either double or triple ply, is not only the time saved in actually printing the receipt but this kind of paper also helps to reduce costs by reducing the demand on the printers ink ribbon. It’s up to you to compare costs and decide whether single or multi-ply till roll paper is best for your needs.

Other till roll options includes thermal and impact action paper rolls. Chip and pin machines in retail premises are the biggest users of thermal till rolls. Impact action paper is a type of carbonless paper also used in chip and pin systems that eliminates the need for ink printing ribbons, since the printed images are produced by the impact of the printing pins on the paper.

By considering the budget given to buying consumable products and finding some savings in that area the bottom line profit of the business can be increased. By taking stock of your needs for till roll paper and related supplies, and by carefully choosing a supplier that offers competitive pricing, you can save a significant amount of money in your day-to-day business operations.

Pos Consumables are the leading UK supplier of pricing guns, labels, Till Rolls and other consumable products and offer free overnight delivery on all their thousands of products

Buying Grocery Online – Online Grocery Shopping is Increasing

admin — Fri, 16 Oct 2009 19:56:40 +0000

The online buying spree is on the peak. Consumers are ordering for their entire needs online but still some of their needs were supposed to be untouched by this online market. Buying grocery online is one these needs that may be still a amazing news for you after hearing that considerable number of consumers going online even for the grocery.

A recent study conducted by Gomez Inc, a leading online quality measurement agency, reveals several interesting facts about the online grocery buying trends of the consumers.

The study examines Internet grocery shopping trends of more than 8,000 Internet users and found several positive responses on their online grocery buying choices.

The outcome of the study tells that about 11 percent of Internet users surveyed fall into the category defined as Online Grocery Buyers, consumers who have purchased groceries online in the last three months. A further 11 percent are Deserters, defined as users who have purchased groceries online in the past, but have not done so in the last three months, and 78 percent are Offline Buyers, who have never purchased groceries online.

Some of motivational factors which induce the consumer for this buying are convenience-related, such as the ability to shop from home, have products delivered, or shop at any time during the day. The study also revealed that lower prices and wider product assortments are not the key motivating factors for Online Grocery Buyers.

Since consumers demand an integrated experience while buying grocery online the existing online retailers having this product line should have to be more conscious towards making better relations with their customers, that study further adds.

The study also highlights for the consumers behaviors on type of Products Purchased. The repetitive purchase nature of groceries appears to be one of the main drivers for online grocery buying. Sixty-eight percent of Online Grocery Buyers state that the types of groceries they buy online are ones that they regularly purchase.

Getting a discount offer that generally come in the form of coupons is also another alluring factor that attracts the consumers to shop grocery online. Cross-channel promotions represent a great opportunity for branded manufacturers to build stronger consumer relationships.

Amrendra Kr. Singh is an expert web writer and has been writing for different media. Right now he is associated with Twift.com which is an online shopping venture and has amazing product range on best rates. To view quality products in a wide range, you can feel free any time to click on http://twift.com.

Retail Buyers and Minimum Order Quantities

admin — Fri, 25 Sep 2009 08:15:20 +0000

Minimum order requirements are difficult to get right. For example, a large minimum spend will prevent a portion of potential customers from placing a first order (often a sample order used to test a supplier.) On the one hand, a small minimum spend may attract the wrong sort of customer, or even worse, attract retail buyers who should be buying at much higher prices from dedicated retail establishments.

Having been in the wholesale jewelry business for many years, it’s been my experience that a large proportion of retailers behave irrationally when dealing with wholesalers. This is often due to a lack of long range planning on the part of small jewelry business owners, and a lack of understanding of the detailed finances involved in sourcing their stock.

Let me present an example to explain my point further. Some years ago, an online wholesale company I was involved with had a very small order size of 10 individual items. At the time, it was assumed that this would prevent retail customers from placing an order, and this proved to be the case.

However, as a portion of the catalogue on offer was quite cheap (with items selling for as little as $1.50), this meant that the minimum spend was often only $15. The sort of customer who placed these orders tended to always buy the cheapest items, and always order only 10 of them – thereby just meeting the minimum requirements.

We tried to explain to them that purchasing more expensive items would allow them to charge a correspondingly higher price to their customers, and thereby increase their profits, but we were rarely listened to. These customers invariably went out of business within 6 months.

A year later, we changed the minimum requirements from order size to minimum spend, imposing a minimum of $70. The feeling was that this would shift the focus of the smaller customers away from counting items. What actually happened was that the same proportion of customers, who had previously purchased 10 items, now spent $70 or $71 each time they ordered.

When this change was implemented, changes were also made to shipping costs, with a flat charge of $15 being charged for each order, regardless of size, and with free shipping imposed on orders above $300. This meant that each small order was charged 21% extra for delivery.

Many of these customers who placed small orders were Jewelry Party planners, and they would place a single order every week. Again, we tried to explain to them that if they changed the way they ordered, placing a single large order a month, they could either substantially reduce their shipping charges, or remove them altogether, but again, they refused to listen, continuing to pay a needless 21% extra every week.

The most recent change made has been to increase the minimum spend further to $100. By this time, we knew what to expect. The same customers, who previously had ordered 10 items or spent $71, now placed weekly orders for $101. At times, the items ordered were chosen with such care that the cost of the order was $100.01.

We never lost these customers, we simply forced them to change the way they purchased, but we were never able to make them order more intelligently. To this day, and despite the current economic situation, many of them continue to pay a 15% surcharge on each order (shipping) that could be avoided by a little forward planning.

The reality is that a large proportion of these retailers will be out of business by mid year. Our statistics clearly show that it is those retailers who repeatedly place small orders who are most likely to cease trading.

James S. Walsh works for an online wholesale jewelry company, specializing in sourcing wholesale fashion jewelry and sterling silver for Jewelry Party organizers in the UK and Ireland.