Whether you are a large retailer or a small fairly new one, you will always need to re-stock and replenish your inventory. Here are a few tips to help you maximise your product search.
Visit Wholesalers Regularly
Not only is it crucial for your business operation to have a regular stock run, but it can also help you to negotiate wholesale prices. Visiting wholesalers regularly will give your business a sense of uniformity, it will allow you to spot product trends quickly and it can help you to build rapport with the wholesaler. If you keep building on this rapport you will be in a better position to negotiate pricing.
Product Research
Before you re-stock it’s vital that you look into products and find out what is popular. Spend time on sites like eBay Pulse to spot product trends and ensure you know what your customers are looking for.
Know Your Limits
Set a bulk-order quantity and stick to it. Some wholesale suppliers will require you to place a minimum order so have a figure in mind.
Don’t Over Stock
Don’t get too carried away if the wholesaler has a good deal on a product. You need to know that you can sell it on and that you won’t be left with lots of stock. Good product research before you visit a wholesaler is crucial to help you avoid this.
Look Out For Clearance Items
Clearance or liquidated items can usually be found on a wholesale pallet. These items are usually very cheap so keep an eye out for any bargains. For more advice on this read our article on purchasing wholesale pallets.
