Common Myths When Selling To Retailers

Common Myths When Selling To Retailers

Myth 1: You have to be a large big name company to do business with a retailer Myth 2: Retailers will beat me down on price so that I will not make any money Myth 3: Retailers don’t pay on time and will make me wait many months for payment Common myths when selling to Retailers

Myth 1: You have to be a large big name company to do business with a retailer

Myth 2: Retailers will beat me down on price so that I will not make any money

Myth 3: Retailers don’t pay on time and will make me wait many months for payment

Fact 1: Retail buyers are always on the lookout for that new breakout product Fact 2: Retail buyers like working with smaller vendors – takes less time to get things accomplished Fact 3: Retail buyers like product exclusives to separate them from the competition Fact 4: Many large retailers are encouraged by “the community” to use minority-owned/women-owned suppliers MYTH 1 You have to be a large big name company to do business with a retailer

Fact 1: Retail buyers are always on the lookout for that new breakout product

Fact 2: Retail buyers like working with smaller vendors – takes less time to get things accomplished

Fact 3: Retail buyers like product exclusives to separate them from the competition

Fact 4: Many large retailers are encouraged by “the community” to use minority-owned/women-owned suppliers

Fact 1: If the particular item is not a commodity and is not identical to a current supplier (i.e. computer paper), then price will not be the main issue Fact 2: Retail buyers know that the lowest cost supplier may not be the best service provider or has the best quality products Fact 3: Other than price, there are other ways to work the deal with the retail buyer MYTH 2 Retailers will beat me down on price so that I will not make any money

Fact 1: If the particular item is not a commodity and is not identical to a current supplier (i.e. computer paper), then price will not be the main issue

Fact 2: Retail buyers know that the lowest cost supplier may not be the best service provider or has the best quality products

Fact 3: Other than price, there are other ways to work the deal with the retail buyer

Fact 1: Many retailers do pay on time Fact 2: If vendors follow the retailer’s procedures for payment, they will get paid on time Fact 3: More and more retailers are using EDI to transmit payment to their vendors MYTH 3 Retailers don’t pay on time and will make me wait many months for payment

Fact 1: Many retailers do pay on time

Fact 2: If vendors follow the retailer’s procedures for payment, they will get paid on time

Fact 3: More and more retailers are using EDI to transmit payment to their vendors

www.retailbound.com [email_address] 630-246-4068 Common myths when selling to Retailers

www.retailbound.com

[email_address]

630-246-4068