I just had to share a little tidbit of a recent trade show I
attended as a vendor.
The show started with a 2-hour wholesale only show. I was a little
unprepared for this, but handled it OK, I think, by putting special
price tags for that timeframe on my beads then taking them off for
the rest of the show. However, after that timeframe a lady came up
to me and asked me what the wholesale price was for a particularly
expensive bead string. I told her 30% off, because I didn't remember
the price I had assigned and didn't want to take the time to look it
up. She tried to bargain me down from there, so then I did look up
the price I had paid to determine if I could afford what she was
offering. I couldn't, so I told her "no," that the price I had
offered "was a bargain" and that I could not go any lower. She
decided to buy it, so I then said "may I have your tax ID?" She
gave me a blank stare, stammered a bit, then said "I don't have a tax
ID." I just had to reply, "well then, I can't sell you these beads
at a wholesale price." She was totally frustrated, confused, wondered
why in the world she couldn't buy 1 string of beads at a wholesale
price, and walked off.
Frankly, I get frustrated by this mentality. She did not have the
credentials to identify her as a potential future "Big Buyer" nor
did she want to buy in bulk. A real wholesale buyer does have to
offer the vendor something to get that discount - either the promise
of bulk purchases in the future or actual bulk purchases in the
present. Why else would a vendor offer a big "wholesale" discount?
Frankly, that was the end of my dabble into the world of wholesale.
Now I back to my original stand of offering the 30% off only on
orders over $1,000.00. My thinking is that a true business will
commonly buy in that quantity. Although I do have several customers
who are real jewelry designers who buy in smaller amounts, they seem
to be content with the 5% off that I offer for repeat customers via
coupons. I believe most of my prices are near or at the same level
as other "wholesale" businesses, and 30% takes them down to very low
true wholesale prices.
So, back to the retail world I go, happy all the way to the bank.
Sun Country Gems