Retail Products To Sell

on Saturday, 24 November 2012. Posted in Retailer, Beauty, Fashion, Jewelry, Marketing, Mens Fasion, Retail, Video Marketing, Women's Fashion

Find Retail Products to Sell

For retailers looking for profitable inventory to sell

The trouble with finding retail products to sell

My name is Jon, I’m from Houston Texas, and I’m a retailer struggling to compete with big box stores. 

I own an e-commerce site dedicated to selling men’s rings, but within the last year it’s been difficult for me to compete with my big box competitor because I don’t get the bulk discount that they receive and I don’t have access to all the products they do because I’m simply a medium sized business that doesn’t have as much buying power as my competitor.

The reason to sell complementary inventory and to find more retail products to sell

Whether you’re in the brick and mortar business or an online retailer there are only two ways to grow profitability and that is to either 1) decrease your costs or 2) increase your prices. 

Most retailers are very aware of these two levers to pull to make their products more profitable. But, what many retailers tend to forget is that you can pull both of these levers by adjusting costs and prices for you current inventory, or you can augment your inventory by finding more retail products to sell  that complement what you’re already selling. The power in selling complementary products is that typically these products have significantly higher profit margins that the core product offering.

Here’s just one example I’ve experienced of a retailer augmenting their bread and butter products to up sell me a product with higher margins. 

Yesterday a new outlet was opened in Lehi Utah, so I decided to stop by on my way back from watching Sky Fall in the theater across the freeway. I walk into a leather coat store to look for a winter coat. I immediately found a classy wool coat on sale for $68. Immediately before I reach the checkout counter the manager asks me, “You are going to get a scarf to go with coat aren’t you? They’re only $20.” Now in this particular case I didn’t buy the scarf because I don’t wear scarves but if I would have my order value would have jumped about 30% from buying the complementary product.

This additional margin recurring purchase after purchase can create huge profits for your business.

The solution to finding retail products to sell

I’ve outlined the two problems with finding retail products to sell 1) lack of bulk discount because I’m a small/medium sized business and 2) lack of access to products. 

I briefly went over the benefit for retailers to expand their current offering to encompass products that will boost their margins and revenues. Now I will share how you can find retail products to sell.

RetailPitch.com is the first "commerce network" on the Internet where retailers and brands from all industries can connect, communicate and conduct commerce. 

Before now it wasn’t possible for small and medium sized businesses to have the purchasing power and bulk discounts that big box stores enjoy. Because RetailPitch.com pools the orders of hundreds of retailers together each individual retailer receives a “bulk discount” even if their purchase order is only a few units. 

To learn more about the products available to you through RetailPitch.com watch this video today:

http://retailpitch.com/blog/index.php?option=com_zoo&task=item&item_id=3&Itemid=101

 

 

 

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