2020 has been a year of ups and downs. Looking forward to 2021 one thing is clear, community is more important than ever, especially for Retail. Becoming a member of a Buying Group can offer amazing financial and community based benefits to help your business grow.
Learn. Connect. And keep reading to discover more!
Top 8 Reasons to join a Buying Group:
- Lower Cost of Goods: As a group you can get increased purchasing power thru negotiated discounts on products you love. Yay for lower cost per piece!
- More Financial Perks: You can enjoy more product opportunities with low minimum orders/reorders and additional discounts on minimums. Some also offer bulk shipping rates!
- Access to More Products: Many groups custom design and direct import their own exclusive products.
- Purchasing Websites: You can conveniently place many of your orders from one site and track them from there. Easy one-stop shopping!
- Community: Most groups offer private Facebook groups where you can ask questions, get feedback and information from your peers, and share your own experiences.
- Marketing Programs & Support: Assistance with digital and print marketing to connect with your customers and drive sales
- Education: Access to training videos, educational seminars/webinars, special product information and sneak peeks from vendors, industry trends/forecasting, and more.
- Annual Meetings: Build relationships with fellow store owners and vendors, access to private buying sessions, educational seminars, round table discussions, and much more!
For more benefits and information on how to join, here are a few of the wonderful Buying Groups who frequent the Dallas Market Center:
HTI Buying Group
“HTI brings together affiliated members to provide access to training, information and resources to improve sales and increase profits while maintaining their autonomy and independence.”
GC Buying Group
https://www.gourmetcatalog.com/
“GC Buying Group can help grow your business, save you money and allow you to interact with store owners from around the country. GC is the leading and original Buying Group in the housewares industry and has been in business since 1981. With over 350+ store members we tout the largest buying power around.”
Museum Store
https://www.museumstoreassociation.org
“The Museum Store Association (MSA) is dedicated to advancing the nonprofit retail industry and the professionals engaged in it. Through advocacy, education, and collaboration, MSA provides the tools and community to help cultural institutions, vendor members, and their commercial partners to expand the visitor’s experience, enabling them to take a piece of that experience home.”
MAI Retailers
“Our focus now is to not only maintain a strong network of like-minded retail business owners, but to also create strong relationships that will positively impact the small and major brand vendors with our loyalty in reoccurring orders. This produces buying discounts that return a positive impact in our member's individual business.”
Some Buying Groups have dues and require participation, but it’s worth it and you get out of it what you put into it! Groups can have additional requirements (i.e. you must be a Brick and Mortar, territory restrictions or industry requirements) so do your homework while looking for the right group for you!
Portions of this helpful information was contributed by Cris Willis from Retail Clarity Business Coaching
cwillis@retailclarity.com
Retail Clarity Business Coaching Facebook
Retail Clarity Business Coaching Youtube Channel