Have you wondered why many retailers in the apparel or garments industry fail in a quick time? More so, what makes only certain lingerie or undergarments retailers stand out among the rest?
Frankly speaking, no one or two answers adequately solve the issues. Multiple problems, or “mistakes” as we would rather call them, are the culprits here. Following, we look at eight mistakes one should avoid to carry out a successful business with wholesale panties.
Before you become a seller of panties, you are a buyer of them, unless you produce them yourself. Thus, when purchasing panties in bulk, you should carefully approach the right supplier. You should deal with them as if you are buying a product for your own use.
When selecting a supplier, some common mistakes you can make are as follows:
If your focus is only on price, then you are bound to get swayed from the right product. Remember, price is important, but so are quality and durability. One big mistake that many buyers make is only selecting the lower price, not the other factors that make vendors suitable. These factors could be location, delivery method, clarity of quotation, return policy of rejected items, etc.
At SNM Basic, we adhere to all your possible needs, based on discussion and requirements.
Avoid buying too many items from just one seller at one time. Many buyers buy the full quantity of orders at once from the same supplier. This saves time and sometimes money. But in this pursuit, they sacrifice the possibility of getting better deals.
We suggest you order a minimum order quantity, check the quality of that lot, and then move forward with further orders. It is best to set your Work Order so that the supplier does not force you to buy the full lot.
In the quest to reduce cost and stock in quick products, many retailers fail to live up to their brand image in the market. All brands, regardless of industry, have a tone, color choice, quality, target market, and pricing strategy that sets them apart. Quick revenue puts you at ease, but compromising your reputation in the market for it is not worth it.
Retailers who compromise their quality of production and service, lose customers and eventually their market standing. This can especially happen in an apparel market related to lingerie or panties.
Before deciding on buying your bulk panties, do not ignore your customer demographics or buyer persona. Don’t buy, just because you have to sell. Make sure you know what your ultimate target group will be. Only then you can purchase the right lot of panties with the right materials.
You can contact us, SNM Basic, for consultancy on how you should set your target group before purchasing from any vendor, even us.
We have been in this undergarments industry for over seven years, garnering strong knowledge about it.
One complicated mistake that many buyers tend to overlook is the supplier’s return policy. A supplier can give you “bad” items, worth rejecting.
In such a case, you would want to return the unwanted unit (s). however, if your work order or terms of reference (TOR) does not clarify return policies, you are calling disaster to strike.
You should also check whether the supplier has return policies in case their sale fails to meet your expectations.
A genuine and good supplier will have such policies stated in the terms and conditions of their quotations. Just like SNM Basic has, making the life of its buyers easy.
When buying in bulk, samples play a crucial role in the purchase. Some buyers directly buy bulk panties, not checking the samples.
This leads to frustration in many cases when they find out the purchase was not worth it. Make sure you check the wholesale samples before making a move. It is better to be safe than sorry in the future.
You should remember that when buying wholesale panties for selling, you are doing business. And every business needs a sorted-out plan. As they say, if you fail to plan, you plan to fail.
Your plan should be derived from market research, customer survey, competition analysis, and financial feasibility.
You don’t need a full-fledged business plan to run your business. But you do need to know where you are headed with the business.
A lot of buyers miss this simple step, causing chaos in the long run.
In a world where sourcing material is becoming ever so easy, managing the optimum fit for your business is becoming difficult. With the advent of digital communications via website, email, and social media, we can contact a lot of suppliers after seeing their advertisements or going over their pages and profiles. This can be done at tip of our fingers.
However, knowing with confidence which supplier is best suited to our needs and businesses is a complex and sometimes difficult task. With eCommerce sites all over, we recommend you do research on the suppliers before making a move. You need to check how they are communicating and the facilities they provide. Email facilities and/or form fill-up facilities via websites are a good way to contact them.