Factors to Keep in Mind When Purchasing Wholesale Products

When you want to be pragmatic with your inventory, purchasing wholesale products is the way to go. But, is going the wholesale route any different? In a sense, no; however, purchasing wholesale goods allows you to get a large quantity of merchandise a low price, although such products may not always be the most recent models. If you go to purchase wholesale items, what factors should you consider?

First, know the difference between "wholesale" and "closeouts," or "liquidations," and understand what "pallets" and "lots" are. If you're unfamiliar with any of these terms, you could end up purchasing a large quantity of last season's merchandise. While wholesale generally pertains to items sold below retail prices, closeouts are typically priced below wholesale. Closeout, or liquidation, items are often assorted and typically come from other stores' clearance racks. Because of this, some closeout merchandise may still have tags, be slightly damaged, or be from a discontinued brand. Items sold as closeouts are typically sold in pallets or lots.

No matter the type or quantity of a product you choose, always stay ahead with the latest trends. Although retailers of household items or groceries may not need to keep this factor in mind as much, those selling fashion, handbags, accessories, or electronics do. Having racks filled exclusively with last year's styles or technology makes a store appear dated, and customers looking for a deal on the latest items may go elsewhere. As you purchase wholesale products, know what trends are in now and what's predicted for the near future.

At the same time, however, don't forget the customer that simply wants a deal, and closeout merchandise is helpful in this case. Just as some search high and low for the latest trends and technology, others do the same for a rock-bottom deal. Because electronics are so integral in everyday activities, not having a computer or cell phone that can perform basic tasks – able to connect to the internet and compatible with a fairly recent version of Microsoft Office – can hold an individual back. Wholesale electronics are typically available new or refurbished, and the latter – perhaps a recent model with moderate fixing – may be the deal an individual is looking for.

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