I wish more vendors/brands were willing to say “no” to retail buyers because the deal didn’t benefit them. For the ones who did say no to me and stated their reasons, I respected and admired it. One reason I would hear would be because the brand was afraid of deteriorating their brand and angering their… Continue reading The Buyer’s Perspective: Be willing to walk away from a deal because it’s not a win/win
Tip 1: Regularly update your buyer on your sales performance. Provide monthly recaps. Buyers don’t have the time to dig into individual SKU sales regularly so your regular analysis is much appreciated. This also allows you to own the analysis and control the story you are telling. Influencing how the buyer perceives your brand performance… Continue reading From the Buyer’s Perspective: Tips for Being a Good Retail Partner So Your Product Stays On Shelf
As a retail buyer at Target, I never gave much credence to brands that appeared on QVC, HSN or the like. Why? It wasn’t the same type of shopper that we pursued at Target. Plus, those networks often undercut the pricing in brick and mortars. And if your product requires that much demonstration in order to… Continue reading From the Buyer’s Perspective: Should you sell to a home shopping channel (i.e. QVC, HSN, ShopNBC)?
It sounds so glam and fun, right? Who wouldn’t want to go on QVC or one of the other major home shopping networks and sell a ton of product? And earn credibility? And have a “free” advertising/infomercial created? Following are some considerations before you take this plunge: Can you extend to the home shopping network… Continue reading From the Entrepreneur’s Perspective: Considerations of doing business with a home shopping channel (i.e. QVC, HSN, ShopNBC)
Note: “Brands” and “Vendors” are used interchangeably in this post. Markdowns are what happens when inventory goes on discount. You’ll find 4 major types of markdowns in retail: 1) Promotional markdowns These are discounts that derive from any type of promotional sale such as a temporary price reduction, circular promotion, coupons, endcap promotions and more. 2) Clearance… Continue reading From the Buyer’s Perspective: Markdowns. What they are, why you need to consider them, and strategies for minimizing your risk.
Markdowns are when retailers discount a product to help move the product off the shelf and/or from their DCs. Most big retailers ask the supplier to help support a markdown when/if they discontinue the product from their assortment. Markdowns are one of those necessary evils in the retail sector. Consumers love them (they get merchandise… Continue reading From the Entrepreneur’s Perspective: Markdowns. What they are, why you need to consider them, and strategies for minimizing your risk
By Vanessa Ting Some retailers give you their purchase orders (POs) with plenty of lead time for you to turn around and place your orders with factories. For those of you who manufacture overseas AND sell to national retailers, you probably do not have the luxury of waiting for retailer POs before placing your production… Continue reading FROM THE BUYER’S PERSPECTIVE: WHAT TO CONSIDER WHEN RETAILERS INCREASE/DECREASE INVENTORY QUANTITIES AFTER PLACING AN ORDER