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Valentine's Day has arrived and it's one of the biggest gift-giving holidays of the year! As a reseller, you have the opportunity to bring a smile to their faces with a diverse selection of products that cater to all tastes and budgets. If you’re new to the industry or already a reseller and want to take advantage of the holiday season, this is a must-read!
We may think it's okay to start looking for merchandise a month in advance, but is it considered the best practice? Probably not. That’s because for starters, “last minute” sourcing of inventory can get pricey as merchandise is highly sought after and, you may be left with slim pickings because as a reseller, 1 month in advance is considered “last minute”. Put yourself in a consumer's shoes. How early do you shop for Valentine's day? If you’re a last minute shopper, ask yourself, how many options are still available the night before or even the day of… it’s slim pickings. That’s because everybody else celebrating beat you to it. Ok, putting your resellers hat back on, as wholesale liquidators, we recommend our customers source merchandise for the season at the very least a season ahead or even a year ahead of time.
Put it this way, we recommend you source your Valentine's day basics (bears, fake flowers, cards etc…) now, today, February 14th, ok, ok… you can wait until the 15th. Why do you ask…? Because retailers are liquidating their excess seasonal inventory now which will end up in our warehouse, in pallets and ready for you. So if you wait until a month before next Valentine’s day, January next year to source your Valentines day inventory we received in February or March of this year, chances are, you’ll have little to no options available to you.
Now, I know what some of you may be thinking; “a year in advance?? I don’t have space to store items for a year” and that’s ok, there’s a solution to every problem.
The lack of storage space is a common concern among all resellers and luckily for you, there’s a solution to every problem. So, let’s put the problem to the side for now and focus on a solution (and this will vary depending on what stage of your business you’re in).
Start by asking yourself: Do I have storage? If yes, hurray, you have a solution. Do I have space in my garage? If not, can I create it (ceiling storage racks are an option) Can I rent space in a family or friends garage? Can I afford to rent a storage unit? After all, if you’re buying ahead of time for Valentines, you’ll be doing it for Easter, Halloween, Christmas and all other seasons as well. Could I use a shed in my backyard?
The solutions are endless. There’s even a new app where you can rent space in someone’s house, garage and yard. All in all, you’re in business to make money so ask yourself, how much will it cost me to store this inventory and what profit margin will I make by paying to store it. THAT’s what ultimately matters. Now, you have your inventory, you have storage but you still want to get rid of your lower value items instead of storing those for a year… What happens now? Well, more solutions…
Valentine's day came and went, you sold out most of your inventory but are left with the lower value items that you do think are worth saving for next year. What can you do with them? It’s time to tap into your network and become a wholesaler… just momentarily. After all, Via Trading started as a retail store back in 2002 and quickly evolved to become purely wholesalers.
Reach out to your community and network of resellers, palletize your “left overs” and offer them out at a heavily discounted price. This creates a win/win. For you, well, you’re getting rid of product you don’t want and making space all while recuperating some of your investment and for your future customer, you’re giving them a killer deal on merchandise they want at a crucial time, 1 year ahead.
Ultimately, Valentine's Day is all about spreading love and making special memories with the ones we cherish! And as a reseller, you can be the Cupid of the gifting world! So why wait? Let's spread love this Valentine's Day and make it one for the books! Happy gifting!
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