Jessup Owner of The Immediate Resource
– Profit maker
items are off-price fashion items that you can sell at a triple mark-up.
Several years ago, during an economic
downturn, I learned the secret of deeply discounted items and using them to get
good markup. On one particular morning, I happened to speak to two of my
customers and asked each how they were doing. Incredibly, both of them gave me
the same answer, which is why it made such an impression on me. They both said
that times were tough and both said the main thing that was making them money
was my $19.90 (wholesale price) bargain racks. They were buying dresses, suits
and 2-pc sets for $19.90 and selling them at $60.00. Since I had a whole
warehouse full of dresses and suits wholesale priced at $34.75 to $149.00, I
was amazed to discover that both customers that I had spoken to were making
their best profits off of my $19.90 bargain row, even though they were also
buying my higher priced items. They explained it simply - a $139 wholesale suit
might sell for $280 (for a profit of $140), but it might not sell, and they
might need to be put on sale at $159.99 for almost no profit. But on the other
hand, it is easy to sell dresses or 2-pc sets for $60. This is a price point
most people can pay, and they hardly ever had to put those items on sale. Both
these customers sold higher priced items in their boutiques, but their main
profit came from buying off-price items at $19.90 that they could retail for
is the obvious math that I did in my head. They could invest $139 in an
expensive suit which might make them a $141 profit or a $20 profit if they have
to put it on sale. OR, they could put that $139 into buying 7 off-price dresses
or sets at $20 that were likely to sell for $60 each, which would be a profit
of $40 each or $280 total profit. Obviously with the off-price items at $20,
their investment was a much lower risk with a much greater potential profit.
They had discovered the secret of buying profit maker items priced at $20 or
the customers also pointed out that occasionally when one of these items
doesn’t sell at $60, it will easily and quickly sell at $39.99 or $29.99. They
are almost guaranteed to make a profit, no matter what.
that memorable morning, my buying staff and I have greatly increased our
selection and volume of profit maker items and many customers have discovered
that these items are less risky and more profitable than higher priced items.
Deeply discounted profit maker items are perfect for regular fresh shipments.
You can have regular small shipments arriving every week at your store. Fresh
inventory drives sales and profit maker items drive profits.
Can Make More Money This Summer. Just Buy More Profit Maker Items!
is the time to embrace all things bright and fun. Hot colors and prints abound
in both easy dresses and lightweight separates. No matter what your climate,
it’s time to stock your store with looks that say “Hello, sunshine!”
and rayon are the most breathable fabrics for summer. Look for crinkle textures
with smocking for an easy care garment to withstand the summer heat. A blend of
cotton/polyester or rayon spandex will help prevent wrinkles and make
wash-and-wear a snap.
are in this season, but that doesn’t mean showing it all off. Dresses with
printed chiffon overlays, laser-cut lace or embroidered cutwork can add some
refined fun to a summer wardrobe.
knit dresses should be a staple for any season. Easy rayon jersey knits are
flattering on any figure and super soft to the touch. Sleeveless styles can be
paired with a jacket or cardigan for work and then easily dressed up for
evening. They are also easy to pack for vacations and weekend getaways.
and bright colors go together like summer sunshine and lemonade. Colors like
fuchsia, flame orange, sunny yellow, kelly green, marine blue and turquoise
will flatter multiple skin tones. Stock separates in these colors to pair
easily with chambray or linen bottoms. Tone down the look (if you must!) with
neutral jackets or shrugs.
this year are all about bold. Floral, paint splatters, Asian and Indian
inspired looks and nautical themed prints continue to be in style from season
to season. Don’t be afraid to make a statement!
are essential in any store. A varied selection of pants, capris, walking shorts
and skirts in neutral colors can help increase the sales of bright colored and
boldly printed tops. Choose bottoms in lightweight chambray (a trendy fabric
for 2011), linen and ramie.
your customers mix it up. For an extra special, yet subtle touch, pair textured
knit bottoms with solid color tops and structured jackets. With all the ways to
mix and match color and print combinations, stocking up on separates can be a
great way to increase profit and help customers get the most out of their
Immediate Resource has the largest selection of wholesale dresses in the
country. Brands like Spense, General Apparel, India Boutique, Madison Leigh,
Pleats and many more are all hot sellers and ready to ship. With our low
pricing, you can double or triple your markup and increase profit margins.
your sales rep today!
Wise King Solomon said that there is “nothing new under the sun”…I am inclined to believe him. However, our modern minds are always eager to devise innovative ways of making “what’s old, new again”! And I tip my hat to Immediate Resource for always making off-price merchandising hip and a true value.
Before companies like IR , I bet the old heads of retail might say that the King of off-price retailing was Ephraim Schottenstein, the founder of what is known today as Value City Department Stores. (I love retail history.)
After emigrating from Lithuania with his family to America, Schottenstein moved to Columbus, Ohio where in 1917 he opened his first clothing store. In nearly one hundred years of business the Schottenstein name has become synonymous with the term off-priced specialists; whose prime message was selling brand-name goods at budget prices. This family empire was built on buying stores that were either liquidating or nearing bankruptcy in small towns across America’s heartland. Mr. Schottenstein tapped into the notion that for some, regardless to their economic stature, finding a great deal on named brand clothing was worth the time and energy it took to rummage through 10K square feet of dept store space! Could someone say…”GENIUS!”
So from that time to this, the understanding that there will always be the smart and savvy shopper who’s looking for a good deal with value and style, still exists today. By the way, let’s define value more specifically…value isn’t just about price. True value is a combination of fashion, quality, brand and price. It’s the exciting top brand or designer that you find for that amazing price that both you and your customer benefit from at the IR that creates a steady repeat business. And the saving benefit, without sacrificing style or quality is an excellent target for focusing your marketing.
For my money, off-price selling offers a unique formula for a successful clothing business. Just ask the 3rd generation Schottenstein family , who are still building their empire. Call your Immediate Resource rep today, and continue building yours!
Remember…it works better, when we work together!
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