It Isn’t a Deal Until It Rings Your Register

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It isn't a deal until it rings the register!There’s a lot of competition for your buying dollars, especially in this economy. Retail traffic is still spitting and sputtering, and most independent retailers are buying very cautiously. So virtually all gift vendors (including us) are scrambling to offer discounts, freight specials, dating, or a combination of all three to get your attention. But don’t be tempted by the deal that isn’t a deal

Whether it’s offered at 40% discount or with a guaranteed sale, it isn’t a good deal unless it rings your register. Study your inventory vendor by vendor and identify whose products are selling for you and reorder from them. When traffic is down, don’t be distracted by the bright, shiny discount. Drive your profit with the products that are selling for you, not the products that idly take up inventory dollars because they were too good to pass up.

Have you ever gotten a ‘great deal’ on product that just wouldn’t sell? Which products or vendors are selling the best for you? Please share your thoughts in the comments section below. I look forward to hearing from you!

Curt Todd is CEO and co-founder of Magnet Works, Ltd., a family-owned manufacturer of home decor products since 1989. He is a regular contributor to the Magnet Works Blog.

(Photo by cranburrybunny)

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5 Responses to “It Isn’t a Deal Until It Rings Your Register”

  1. Heidi Says:

    Pillows and tabletop textiles are selling. Inexpensive ways to get a fresh look, I guess.

  2. SS Marsha Says:

    Wedding gifts have been driving traffic here in SW Indiana. I think increased consumer confidence has more couples tying the knot than in the past couple of years. Since the recession hit, we have beefed up our “bridal essentials”… kitchen goods, tabletop, and practical home decor, and that’s helped things a lot. People may not be buying entire new decorating schemes for themselves, but they will continue to buy gifts. We sell a ton of Magnet Works MatMates. The combo purchase of a tray and a mat make a good wedding gift in the right average price range for our area ($50-60).

    • Curt Todd Says:

      Great input, Marsha! Price point is so important. So glad MatMates are selling well for you. Hopefully, those newlyweds will return to buy more mat inserts! — Curt

  3. Monica Says:

    Baby gifts continue to be our best seller. There will always be babies! We’re lucky to have cornered this market in our area.

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