What You Need to Know About Buying Wholesale Clothes For Profit
We are all looking for a way to make a little extra cash in today’s difficult economy. One area of industry that rarely suffers from recession, is clothing. After all, we all need clothes; no matter how bad things become economically clothing will always be a necessity. However, if you want to make a profit from selling clothes, then you need to ensure that you have adequate margins. Buying clothes in bulk is the best way to ensure that you are able to put a margin on your clothing. However, there are a few things that you need to know, and we will discuss these below.
Buy Quality ItemsYou may be starting out, but you need to ensure that you buy the highest quality products that your margins can afford you. This may mean that you make less of a profit than you anticipate initially, but it also means that you are more likely to benefit from return custom.
Once a customer has bought products from you, and they realize that they are of a good quality, they will often return to buy more. In business, it is well known that it is far easier to retain customers, than it is to find new customers. Up to 90% of any business, revenue is derived from return custom, and so it is vital to make a good first do this by purchasing good quality and attractive clothing.
Buy Fashionable ItemsThe majority of your customers will be concerned with fashion. This is true regardless of the particular demographic to which you are tailoring: although, depending on the demographic, what is considered fashionable will vary. Therefore, it is important that you understand your audience and that you buy clothes tailored to the people whom you wish to attract. For example, if you want to attract a young, female, audience, make sure that you stock up on pretty ladies dresses wholesale. Be sure to read the fashion magazines so that you can choose clothes and dresses that are on trend. It is ok to go back a couple of seasons, because although high-end fashions change each season, high street fashions tend to stick around for a few years. For example, maxi dresses made a big comeback in summer 2012, and they are still popular in summer 2013.
Buying accessories that go with the clothes that you have in stock is also a good idea. This will add to your source of revenue, as people will often want to buy something that matches their clothing. For instance, if you buy in ladies dresses wholesale, it is worthy you also buying in necklaces, handbags, sandals, etc. anything that will go with the dresses you have in stock. For men’s clothing, it may be a little harder, but buying hats, satchels, wallets and scarves (depending on your stock – you do not want to buy a scarf to go with jogging bottoms) will usually do the trick.