Why You Shouldn't Sell Your Entire Collection to a Buyer
Wouldn’t it be nice if a buyer says, “I will take one of everything”?
Taken by surprise because it’s always been a dream that someone else would love your entire collection as much as you do. You reply, “Sure, let’s start writing”. Now in a perfect world, some might think this scenario is ideal but is it really?
Before we let our imagination run wild, let’s pump our brakes for a sec and deep dive into the three critical reasons why selling your entire collection to a buyer is the wrong move.
Although we may be tickled by the thought of someone buying all items from our line it’s imperative to think about sales on a grander scale. Ask yourself:
- Do I want to sell to more than one store?
- Do I want items to sell through?
- Do I want my collection to look visually appealing in stores?
If the answer is yes to all the above questions then your distribution strategy must make sense. Meaning, you cannot sell everything to one store because it will limit you selling to stores that are nearby.
Remember buyers, like to purchase product others do not have, especially specialty boutiques.
So instead of loading all your product on one retailer think long term.
Let’s be honest, in every collection, there are a few slow players. Meaning all styles aren’t going to sell through for whatever reason. Likely because of the graphics, color, fabric or the timing just isn’t right.
Just think, if ONE buyer decides to purchase every item from your collection it’s a strong possibility not one but several items will begin to collect dust.
In translation, inventory will become damaged and its value will depreciate because consumers do not want it. Which in turn might hurt the brand credibility and sales rep’s reputation.
The general rule of thumb is to question the performance about three to four weeks after the buyer purchases. If items are not selling as expected then suggest the following:
Offer trunk show assistance, to create excitement and bring customers into the store.
Re-merchandise and shifting items to the front of the store or near the cash wrap can make a world of difference.
An exchange is always a possibility but of course within reason. In addition, before any exchanges are made, it’s wise to ask yourself if you plan to work with the same retailer next year? If so, this might be a good option.
So, you’re probably thinking but I can make so much money if I sell my whole collection to one person. We get it and totally support you in making money, however, do yourself a favor and ask:
Did I design my collection specifically for store “x”?
Since we’re almost certain the answer is NO, it’s a good chance all items will not fit well visually and logically. The thing is that we encourage sales and really want you to ROCK!! Which is one of the main reasons for creating The Sales Concept. However, it’s imperative that you’re selling the correct items at the proper price.
If you ever get confused as to what to offer a buyer then simply peek at the adjacent brands, pricing, and website. By doing your homework beforehand it will guide you to select the appropriate product and avoid overselling.
Now that we’ve peered at things on a deeper level it’s become clearer that selling our entire collection to one person might not be the best option.
Remember: A solid distribution is key! To have an effective distribution system do not limit yourself to one retailer instead sell items based on store aesthetics, price point, proven styles, and location.
Now go out there and crush your sales :)