You Cannot Cater for Everyone

Paul Hay Sept 13One of the most common sights I see on a day-to-day basis is businesses trying to be golfing supermarkets to their membership.

No matter how good a business you have, you simply cannot cater for everybody by stocking every single supplier. Even multi chain supermarkets, with all their guaranteed footfall and advertising, streamline their stock in to top selling, margin making products.

With so many good suppliers creating top level products for retailers, the choice can actually be too great in finding the right product for your membership.

By simply tailoring your overall spend and by setting a tight budget, aligned with products you can sell with a healthy margin, is far more important than having large amounts of money tied up in the latest product just to satisfy your members’ egos.

Picking a handful of suppliers actually prepared to work alongside you in achieving sell through by tapping into their experience and resources can position your business in to a more cash flow driven model.

Suppliers that are in direct competition with each other for market share can actually be a real advantage to your business, as they will want to see their product in your store rather than their direct competition.

The real key to any successful business model is making your selections and getting right behind them. If you don’t really believe in the product you stock then how can you expect the consumer to?

Paul Hay
Retail Consultant

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