To negotiate bulk wholesale prices, it’s important to research and understand the market value of the products you’re interested in purchasing. It would be best if you also were prepared to negotiate based on factors such as the volume of your order, the length of your contract, and your payment terms. It’s also good to have a few alternative suppliers in mind if your negotiations are unsuccessful.
In evaluating the proposals, consider the importance of quality. Talk to a minimum of three vendors and make sure they know you’re shopping around to get the best price on bulk wholesale. Inform them that you will choose the lowest-priced bidder.
The accounts receivable are a concern for suppliers just like any business owner; therefore, offering significant deposits on your orders is another strategy to achieve larger discounts. A supplier may be more willing to negotiate pricing with you if they are assured of receiving 50-60% of the total cost upfront.