Business Buying Tips

Over the years I have been at the sharp end of purchasing products (wholesale and retail) over a number of trades. On this blog site I will post a few reminders of how to gain additional discounts from trade suppliers.

All these 50 posts will assume the business is a single or (small multiple) retail outlet/s and a normal trade discount of 25% is offered by suppliers. The question is can any further discounts or advantages be gained?

Please visit occasionally to see how the list grows. Thank you

Buying Tip 46

Good buying should extend to your wrapping paper, bags, till rolls, racking etc. search the market or use www.costco.com also in UK

Buying Tip 45

"One off" promotions of lines slightly outside your normal stock range can increase foot fall.

Buying Tip 44

Know where you earn your highest weekly  margin. Best sellers may not even be near the top earners  -  80 / 20 rules apply.

Buying Tip 43

If a supplier offers a LIVE in-store demonstration TAKE IT! Sales will jump. (even static video presenters can do wonders for a while).

Buying Tip 42

Concession space can be let on an ongoing basis or just for a day, a week, or other short period

Buying Tip 41

If you have a lot of space take in a concession - no stock cost, just a share of the take.

Buying Tip 40

Great display opportunities can be built around Chinese New Year, Halloween etc. but check stock volumes carefully

Buying Tip 39

Take care with "one day" promotions such as Mothers Day, Valentines, etc. I love the "buzz" but waste can be a problem

Buying Tip 38

A few Brand Name items may be needed to give authority to your offer but go for higher margin alternatives if possible.