How to Cope with Seasonal Product Demand
Posted on April 4, 2008
The old adage says 'variety is the spice of life' - but if you are in business, you know that variety in customer purchasing patterns can be an extremely stressful issue to deal with. Some seasons will see a trend to fewer purchases - other months, everything you have on the shelves will be selling. While you can't change your customers' buying patterns or convince them to buy what they don't want, you can use a little logic, research and planning to try and get a better picture of when they are going to want things, what they may want and then prepare accordingly. Read More »
How to Track Market Tends in Order to Spot New Products Early
Posted on April 4, 2008
Whether you own a brick-and-mortar store or a website, continuously finding new and interesting products is crucial for any store's success. With so much competition it the retail arena, it's important that product sourcing is thought of as ongoing process, rather than something that is done just a couple times a year. Staying on top of industry trends and the newest products requires time and effort but, as a bonus, it can be fun too! Read More »
Tips for Renegotiating Prices and Terms With Your Suppliers
Posted on March 27, 2008
Most business owners just accept their vendors' prices, payment terms, shipping terms, etc. as is, without ever questioning them or trying to renegotiate better terms. But the truth is, as a buyer, you have the leverage to get better pricing and terms - and it's all just a phone call away. Here's how. Read More »
Sourcing Products at Auction Houses
Posted on March 20, 2008
Specialty retailers looking for new ways to source products may want to consider visiting local live auctions on a regular basis. From a caseload of unopened mp3 players to valuable antiques whose beauty is hidden under a layer of dust, live auctions can hold a treasure trove of products for retailers. Read More »
Putting Your Best Face Forward When Doing Business With Wholesale Suppliers
Posted on March 19, 2008
You have this great idea for a business. You've done all the research you think you need to do, decided what products to sell, set up your website, chosen your domain-you're ready to go. Now you need to find wholesale suppliers to work with in order to get the products you want to sell. As you begin looking, however, there are a few things to know about the proper way to do business with suppliers. Read More »
