Buying group for retailers revealed
Smaller stores urged to join together to increase their bargaining power
A group of retailers have joined forces to form a buying group to help them negotiate better terms when switching suppliers.
The group most recently used its leverage when switching to a new symbol group.
betterRetailing, however, is unable to reveal the symbol group due to confidentiality agreements.
A member of the retailer group said: “We were friends before and thought it would be easier to join together to negotiate better buying power.”
They recommended that other retailers do the same. “I would advise other retailers to get on board with something similar,” they said. “It can be useful for smaller stores that wouldn’t be able to secure maximum terms alone.
“By coming together, you are able to have a bigger voice.”
More on this topic: Symbol groups and wholesale
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