How Tactful Negotiation Boosts Profitability of Kids Wear Retailers
The goal of all retailers is to make profits. In other words, their principal motive is to attract more and more customers for increased sales. If you are a kids wear retailer, your goal cannot be different. So, you are also there to garner more and more profits. In the context of increasing your profits, if someone asks you to mention the parameters that can help you to push up your bottom line, what will you say? You are most likely to say that selling high-quality products, running effective advertisement campaigns, selecting the proper suppliers, maintaining good relationships with customers, and recruiting efficient employees. Again, if you were asked if there is anything more, you might tend to say no. But, it is not so because the list has not yet come to an end. Yes, the parameters you mentioned are all correct. But you have missed out on a crucial criterion—negotiating the price with the manufacturer or supplier. You might not have known that...