5 Tips for Wholesale Clothing Buyers and Textile Importers from Top Clothing procurement Companies
An old business saying goes: “The profit is made when shopping”. The terms and conditions in the procurement of goods actually play a large role in the profit of your company. In order to make as much profit as possible, ideally pay attention to your purchase prices at textile wholesalers and make sure to optimize them. We have summarized for you why the purchase price is so important and how you can stay competitive. So that you can save costs when shopping, we have also prepared 5 useful tips for you.
Wholesale imports of textiles
Table of Contents
Bad purchase prices do double the damage
Negotiate good purchase prices with wholesalers
Tip 1: Alternative to wholesale — buy close to the source
Tip 2: Use wholesale marketplaces
Tip 3: Compare prices and conditions regularly
Tip 4: Pay attention to other conditions
Tip 5: negotiate skillfully with textile wholesalers
Conclusion: lower dealer prices for greater competitiveness
Bad purchase prices do double the damage
If you search for a product on a relevant search engine such as Google, you will be presented with various offers. Product XY may cost you EUR 30.00, while the identical product from dealer A costs only EUR 25.00. Nowadays consumers benefit from immense transparency. Really every internet user is able to find the product they are looking for within seconds at the cheapest price. If you offer the goods more expensive than your competitors, the customer will not buy from you — regardless of whether online or offline.
As a rule, dealer A should be cheaper because he benefits from lower purchase prices. The purchase price therefore not only affects your achievable turnover, but also your actual profit. If you offer your textile goods more expensive than your competitors, this can also have a negative effect on your reputation. Online users are networked with one another and your company can quickly be decried as an overpriced shop. You lose customers who haven’t even known your company before. So you lose potential customers not only because of an inflated price, but also because of your negative reputation.
In order to be one of the cheap providers in the long term, you have to optimize your procurement prices in the B2B marketplaces with garments wholesalers. This means that you have to deal regularly with the procurement of goods and the conditions. In this way, you can counter a possible corporate crisis from the outset.
Negotiate purchase prices with wholesalers
In order to become or remain competitive, first and foremost look for a good textile wholesaler with low purchase prices. But even when you find it, the real work doesn’t stop. Purchase conditions are dynamic factors: you have to deal with them again and again if you want to keep offering good sales prices.
So it is your job to constantly look for new suppliers or to renegotiate existing prices. If you do not do that, you will no longer be competitive within a very short time and your customers will overflow to the competition. In plain language, this means that you have to actively deal with these points:
Continuous research for new manufacturers, importers, fashion wholesalers and suppliers
Regular comparisons of all purchase prices in the shop
Keep an eye on additional purchase costs and other conditions
Carry out renegotiations with all existing suppliers
Everything you need to know about this is easy to learn. With our 5 tips we will show you how you can significantly increase your sales and profits.
Tip 1: Alternative to wholesale — buy close to the source
The closer you buy an article to its origin or source, the cheaper it is to buy the product. For you, it would be ideal if you could source the products you sell directly from the manufacturer. With every additional reseller or distributor, you pay a surcharge that you do not pay with the manufacturer. For example:
Purchase price from the manufacturer
Purchase price through intermediaries + 5 percent
Purchase price through intermediaries and resellers +15 percent In order to achieve low purchase prices and thus also sales prices, you should establish as direct access to the producer as possible.
Tip 2: Use wholesale marketplaces
Nowadays there are several textile wholesale marketplaces on the Internet. On these marketplaces, you as a wholesale clothing distributor (and exclusively commercial supplier) have the opportunity to buy and sell goods on favorable terms. These marketplaces also offer retailers a huge advantage: you can almost always access remaining stock and special items here that are priced well below those of the manufacturers.
If you look around regularly at such marketplaces and include the textile wholesalers who sell there in your research, this will have a positive effect on your profit. Wholesale marketplaces are lucrative because you can select interesting and suitable offers and purchase the products you want at extremely low prices.
Tip 3: Compare prices and conditions regularly
Are you currently in the middle of starting your own business or are you about to open your textile business? In any case, as you move forward as a retailer, you will need to regularly review your suppliers’ prices. It is just as important that you do the research yourself. Carry out comparisons of the purchase prices for clothing again and again in order to benefit from advantageous conditions in the long term. Product prices can change almost overnight. The reason for this can be a strategic change of course by the manufacturer, spontaneous trends or successor models.
Under no circumstances should you miss this point in time. You are responsible for selling for the best possible price in order to make a great offer to your customers. Start a try and ask, for example; Top Clothing buyers in USA, Sports Wear Importers in USA, How to contact Apparel Buyers and similar ones so active research is an essential point in competition!
Tip 4: Pay attention to other conditions
A low purchase price is good, but not everything. When checking and comparing your purchase costs, you should also include all other conditions. These factors make price comparisons difficult, but should be taken into account if you want to buy at the best price. These factors include, for example
· Shipping
· Discounts
· Bonuses on annual sales
· Fees for small quantities
· Support through special campaigns
· Equipped with interesting sales material
Tip 5: negotiate skillfully with textile wholesalers
Let’s say you’ve found a number of fashion wholesalers who can offer you the products you want at the best possible price. You are happy and lean back satisfied. And exactly this point is wrong: just because you currently have suppliers who have the best conditions, your work is not done.
As a smart businessman, you will regularly renegotiate the purchasing conditions at textile wholesalers in order to further optimize your procurement costs. You should have regular discussions with importers, manufacturers or even textile wholesalers. You can also take advantage of certain occasions for this purpose. For example:
· More goods purchased than planned within the last 12 months
· New suppliers on the market who promise more favorable terms
· Change in the market situation
Conclusion: lower dealer prices for greater competitiveness
The constant optimization of your purchase prices is essential nowadays because consumers enjoy immense transparency. In order to be competitive, you have to work actively on optimizing your purchase prices. For example, through constant research for better purchase prices or through regular renegotiations with manufacturers and wholesalers. With our 5 tips you will get a perfect overview of the things that you should definitely consider when purchasing or selling goods if you want to increase your profit.
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