Nationwide Buying Group Meeting

I just got back from a five-day trip to glitzy Las Vegas, where our Nationwide Buying Group held its most recent meeting. I went a day earlier than usual, for the pre-show meeting of the largest dealers in our group. This was my first meeting as part of this top tier of dealers, as this past year was the first time we did enough volume to qualify. Now we can take advantage of the very best deals the major manufacturers have to offer, and be more competitive on price than ever.

During this show I was asked to give a presentation on our 10% lowest price guarantee. Like many of our customers, my fellow dealers asked “How can you give 10% off the big store’s pricing and still make enough profit?” I explained the way I look at it: any sale is better than no sale; so I’d rather do the extra volume at low profit margins AND know exactly what my competition is up to. That way we can honestly say we’re the lowest on everything we have in the store, because any time we are informed of a lower price, we immediately lower ours so it won’t happen again. It’s a great time-saver for our customers to know they can count on our pricing to be the lowest, and the extra volume makes up for the low profit on any individual sale.

In addition to the great buys, I always pick up a few great ideas from my fellow dealers on how to run a more efficient business and improve customer service, and this show was no exception. And in the spirit of keeping those expenses low, I am happy to report I only lost $40 playing video poker!

Stop in your nearest Sherman’s in the next couple months and see all the great buys our manufacturers had for us at this Augusts’ Nationwide Buying Group show.