What are you getting from your inventory suppliers?
What type of support are retailers getting from their inventory suppliers to help sell their products? Many retailers don’t understand that they are helping their suppliers create a market for their supplier’s products.
When I was in retail I used to make sure I got from every supplier:
- Advertising money
- Manufacturers reps at big sales events
- Special close out purchases to help promote the product line.
- Mark down money to move slow merchandise
- And Special terms to stretch cash flow
The key is communication with the vendor: You don’t get, what you don’t ask for.
Check out this blog post I wrote for a more detailed road map: