A lot of people in the garment/apparel industry conduct their business offline, through personal contacts. There are many good reasons to conduct business this way elsewhere but you could be missing out on major deals by restricting yourself to only one channel or set of channels.
Many people in this industry are not aware that there are online channels for the types of high-volume stocklots they trade in. Even though the internet opened up many new sales and distribution channels, many of them proved to be less than serious, or worse, outright scams.
This may seem counterintuitive on its face. After all, many industries saw markedly reduced levels of fraud when they moved online. But stocklots is a grey market industry, meaning that the distribution channels are – while not illegal – not officially authorized or intended by the brand. This means that verification on a particular lot is always difficult to come by, as all deals are done through unofficial back channels.
Because these deals are so big, conducting business online did not used to be a sound strategy – there was simply too much riding on a deal to have less than 100% confidence in the other parties involved. Trust is paramount for this reason.
In the past few years however there have emerged online businesses (such as TigerTrade) who offer stocklot verification as part of their services. Now that it is possible to conduct verified transactions online, there is a new opportunity to expand your business without the need for intermediaries. Being aware of available channels can help you maximize sales and turn the highest possible profit from your business.
The scale and reach of internet-based marketplaces can lead to better price discovery for both parties.