We sat down with TJ Greene, our Sourcing Category Specialist here at BuyMax, to get some insight into the latest trends he and the BuyMax team are seeing in the world of distribution and private labeled products. We dive into how BuyMax and our vendors and services can help our owners save money on their bottom line while allowing them to offer their customers high-quality products.
Trends in Distribution and the Industry
TJ told us that inflation is the biggest trend plaguing businesses and consumers right now. Pricing for everything is on the rise with no end in sight. Companies are beginning to cut costs and spend less on products and travel for fear of the economy getting worse, and consumers are wanting to hold onto their money.
“We are noticing that consumers aren’t spending as much money on home improvement services as they once were,” TJ said. “This is partially because the beginning of the summer was milder than in years past. We have also emerged from the COVID-19 era, and people are no longer spending as much on their homes. They have switched to repair mode instead of replacement mode for things, cutting down spend. We have noticed that consumers are doing just what they need to in order to get by with working equipment.”
Consumers are hesitant to make large purchases now, and BuyMax is working on ways to change this. TJ told us that they are trying to help mitigate any potential price increase, negotiating the lowest pricing for you, and offering rebates on the purchases you are already making.
Tips to Help Save on Your Bottom-Line
TJ told us a few things that BuyMax offers our business owners to help them thrive during economic uncertainty. He also provided a few tips on additional things you can do to help alleviate these some of these issues.
- Take Part in Our Consignment Program: BuyMax offers our business owners a consignment program where we hold inventory for you until you need it. This ensures that when your technicians make a sale, the product you need is available to you. This program helps stabilize the supply chain and ensures you have the products you need when you need them.
- Consolidated Shipments: Try strategically placing your inventory and equipment orders. The more products you can bundle in one order, the cheaper the landed cost will be. TJ says, “Think of it in terms of shipping air. You don’t want to pay to ship air, so bundle your orders together to get the most out of your landed cost, which is the cost it takes to get products to your doorstep.”
- Quantity is King: We encourage you to think outside the box regarding shipping and order placement. Quantity is king, and typically, the more you order, the better the price you will get.
How Sourcing and Private Branded Products Can Help Your Business
Another way BuyMax is looking to help our owners is by sourcing the best products at the lowest possible price. This is done by sourcing products overseas, looking at purchasing container loads, and private branding products to ensure the cheapest cost.
Our private branded products generally offer cost savings to our owners, which can be passed down to your customers. BuyMax looks to get the best product for these private branded items at the lowest cost.
By selling private branded products, you also get the exclusivity of the product and branding benefits. No other competitor out there will have the exact product you are offering. And, when customers look at your equipment, they will see your logo and contact information, which provides top-of-mind branding for their service needs.
If you have any suggestions on products or equipment you would like private labeled for your business, please reach out to your BuyMax Regional Account Manager or email@example.com, and they will pass it along to the sourcing team. Or send them recommendations for any vendors or suppliers you purchase from that BuyMax may not work with, and we will look into partnering with them to provide you with exclusive promotions or rebates.