Negotiate For More From Your Suppliers

Do you go to car boots and flea markets? If you do, you’re probably used to bargaining a bit.

But if you go to Walmart, you might be used to just paying sticker price. If so, you have a bit to learn so you can sharpen up your negotiations with suppliers.

Great flea market shoppers know there are some basic things that get you what you’re after.

•      Always ask “what else have you got like this?” or even “have you got any flatware?” So often, the seller has more in the back of the car, that hasn’t even been unpacked.

•      If something on a stand catches your eye, even if it’s not quite what you want, take a look around; there’s probably something else you do want pretty close.

•      If you see one good plate, or saucepan, or chair, see if there’s a set. Or if you see a saucer, see if there’s a cup that goes with it.

•      Always ask “Is that your best price?”

•      Or ask “Could you add a little something?” A friend got four bars of olive oil soap as the ‘little something’ to go with a couple of mugs she bought, and reckons the soap is actually worth more!

•      Never pass up the opportunity to learn something about the things you’re looking at and the marketplace in general. Chat to vendors about how the day is going, what’s selling, what makes a particular style more popular, or less valuable.

•      Always be willing to walk away.

So how does that help you with sourcing for your FBA shop?

Well, for instance, if you’re sourcing a floral teapot for your spring kitchen range, ask if there are cups and saucers that match. If the supplier already has matching products, you may be able to expand your product line easily and get a better deal into the bargain.

Always ask your suppliers: “Have you got any other products that are interesting? Any other products that are selling really well right now?” They may already have spotted a trend that you won’t see on Amazon for a couple of months yet. Or they may have a great new product that you’re the first person to see.

If the sample they’ve sent is close, but not quite close enough, see what your suppliers can do to get it exactly how you want it. Bigger pockets in a skirt, perhaps? Or maybe you want more robust fasteners on a cat carrier.

The same goes for price. Is this their best price? There are all kinds of negotiating points. You might buy more, for instance, if they drop the price.

Or can they add something? Sometimes, suppliers can help with shipping costs, or add in a small extra at low cost. For instance, if your skirt design doesn’t use all the pretty fabric, maybe you can have it made up into matching pouches or hair ties.

Remember to ask questions. Your suppliers may have a good understanding of the market. They may be able to explain to you which corners can be cut, and which economies will reduce the value of your product. They may know that some designs sell well in the US but not in Europe. But you’ll never know unless you ask!

It’s the same with advertising. For instance, “Are there any more keywords I should be using?” is always a good question to ask. “Are there any more social media that would work for me?” Or any influencers you ought to know about?

Always ask for more. Because that way, you get more!

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