If you are in the wholesale urban hip hop clothing business, you cannot survive unless and until you are able to buy the goods at the lowest price. This is because you are going to sell these goods further to a retailer and if you are not able to supply them goods at a cheaper price, they will not buy the goods from you. Secondly, when you are able to cut the best deals while purchasing, you will be able to generate more revenue from the business.
Having said that, let us have a look at some of the tips to get the best price for wholesale urban hip hop clothing:
• Start by doing some research on the hip hop clothing trends. See what is hot in the market. Trends in hip hop clothing change soon, hence, it is prudent to keep your self abreast with what s latest and hot.
Now, don t go for brand names, as you may not be able to get the best deal on them. Moreover, most of the big brands have their own wholesalers and retailers and sole selling agents, so they may not give goods to you directly.
Instead, see what is running, and get something similar to the trend from a job worker company. There are several job workers in countries such as China, Vietnam, and India, who will style the garment as per your specifications in stipulated time. This will lower your cost by half.
• Get quotations from a number of manufacturers who meet your requirements, compare the rates and quality and then finalize on the manufacturer, so as to get the best deal.
• If you are purchasing the clothing, then buy it directly from the manufacturing company. If you buy from a commission agent, then his commission will add to the cost, and you will not be able to get the best price for the clothing.
• If you are sure that the items you are buying will sell in high demand, and then place an order for bulk quantity. Manufacturers generally quote a better price if you are buying in bulk. This will reduce your per piece cost.
• Continuity: If you maintain a good relationship and regularly buy from the manufacturer, you will create goodwill and will be able to negotiate better deals.
• Variety: Even if you are buying from the same manufacturer, try you have maximum versatility in the designs. This will ensure a faster turnaround for your stock. Moreover, you will earn their loyalty. This will in turn result in quick clearance of your stock. When you are able to clear the stock quickly, you are saving money on carrying cost Cost of space, utility bills etc. Thus, without your knowledge, you are actually reducing your costs.
• Try to negotiate the payment terms with your manufacturer. If the manufacturer is giving you one month credit, give your retailers 15 days credit. This will ensure that you need not borrow money from banks and pay heavy interest. This will help you in keeping the cost low.
The above steps will ensure that you get the best price for the wholesale urban hip hop clothing.
Author Resource:
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