wholesalepalace.com Blog

As more and more studies continue to point towards a recession, 2008 will probably not go down in the record books as a great year for most Americans.  Many businesses are just struggling to get by, growth for 2008 will be a real challenge.

The one piece of good news to come out of these reports is that most Americans are still very optimistic, even bullish on our economy as a whole.  Most Americans seem to feel that by 2009, the economy will take a turn for the better.

Times are tough for retailers.  Wholesale prices continue to rise, gas prices are crazy, and the dollar bill in your pocket is worth more to a Canadian than it is to you!

So how do retailers survive in a week buyers market?  The answer is simple (even if its not easy), Careful and Methodical Management of your business.  This means managing every aspect of your business more closely than usual.  From the cost of your inventory, to the cost of your paper clips.

Many retailers have asked me if raising prices are the answer to weakening sales.  There is no simple answer to this question because it depends largely on your market and the products you sell.  The hard facts are this, if your wholesale suppliers are raising prices, you may not have a choice.  Keeping a health profit margin is key to both the short and long term survival of your business.