Become a Successful Wholesale Seller - Top Sellers' Secrets part 1: Dead Stock
Have you ever wondered what makes your wholesale customers tick? Have you ever asked yourself how and why they choose the brands that they purchase from time and time again?
We've looked at what makes our top Sellers great, and now we're sharing their secrets with you. Follow these simple steps to help maximise your chance of success when selling on TradeGala!
It's a part and parcel of the fashion trade. Providing great fashion is always somewhat a gamble - you can never 100% predict what will fly off the shelves and what will gather dust in the warehouse. Hopefully you will have calculated this possibility into your sales margins so that when you do have old stock building up it doesn't overly affect you profits, but you'll still want to try to sell it on. So what are your options?
Should you sell Dead Stock on TradeGala?
It's important to remember that TradeGala is a wholesale site, and that our buyers work in the industry. While retail customers may not be up to date on the latest styles, professional fashion buyers will not be so easily taken in. They are aware of trends and pricing and expect the brands that they purchase from to offer them the latest styles – after all, they then have to be able to sell these onto their customers at a profit.
That's not to say that you shouldn't offer last season's stock to your wholesale buyers. However it's worth offering attractive reductions - buyers may still be interested if they can be sure to make a profit, and you can be sure that they will check the market rate before purchasing! By offering a sale section in your store you also may entice new buyers who will be willing to give your brand a try at your reduced rates, and then come back for your current season stock once they have been able to see the quality for themselves.
Remember, old season stock and sale stock should only be part of the selection you offer. Make sure you're updating your latest stock to keep your products at the forefront of buyer's searches. We'll look at how you can best merchandise your stock in our next post!
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Written by: Amber Domenech Patey