Buyer's Guide

We’ve listed everything you’ll need to navigate market, including a few quick tips. Now that you've become a buyer, here are your next steps.

Prepare for Market

  • Book ahead of time with Market Travel® for special rates at preferred hotels.
  • Download the DMC App for updated product lines, categories, maps, food outlets, events, and more.
  • Use My Schedule to make appointments with manufacturers or sales reps and see seminars or networking events.
  • Every resource we offer helps you make the most of your experience. View exhibitors, product categories, and maps.

Don't Forget

  • Reference Sheet
  • Bank Reference Letter
  • Business Cards
  • Resale License/Permit
  • Your FASTPASS and I.D.

Welcome to Market!

  • After you've arrived and picked up your badge at registration, grab a Directory and The Showtimer, both available at all Registration Counters and Information Booths.
  • Check luggage at the Coat/Luggage Check. (It's only $2 per item.)
  • Visit Market Travel, located on the 1st floor of the World Trade Center, and reserve your rates for the rest of the year.
  • Attend Market Orientation, it occurs each morning at 9 a.m., to find showrooms, locate merchandise and check out the Buyers' Lounge.
  • The Showtimer lists our seminars and fashion shows. Events are usually free, unless otherwise noted.
  • If you miss Market Orientation, take time to walk around and visit each floor.
  • Stop by our Information Booths, located on each floor, for help locating showrooms or amenities.

Have additional questions? Frequently Asked Questions

Credit Information

As a new business, the first thing you need to do is acquire a Duns number from Dun & Bradstreet. Contact your regional Dun & Bradstreet office at (800) 333-0505, and ask for Information Resources. Dun & Bradstreet can assign you a Duns number over the phone, if you provide them with the following information:

  • Contact name
  • Store name
  • Store address
  • Store phone number
  • Chief executive officer's name
  • Line of business

 

A factor is a business organization that provides financial support, customer credit protection and other services. The top four leading factors are:

  • Capitol Factors — (212) 887-7905
  • CIT Group — (212) 461-5200
  • Rosenthal & Rosenthal — (212) 356-1400
  • Wells Fargo Trade Capital Services — (212) 703-3500

 

Factors purchase the accounts receivable of manufacturers, importers and wholesalers. The factor assumes the receivables, as well as any accounting and collection responsibilities.

Establish a rapport with the factor in case of any problems. It is very important that they're informed about late deliveries, quality and returns.

When placing initial orders with vendors, have the following information available:

  • The business "bill to" name, address and phone number
  • Trade styles or DBAs; ("Doing Business As" refers to the name of the store, as opposed to the corporation, i.e. Dayton Hudson, DBA Target)
  • Dun & Bradstreet number
  • The number of years in business
  • Names of store directors, owners or partners
  • Bank references including: Bank name, Bank address, Bank phone number, Bank account number, Contact/loan officer name
  • Trade references (other suppliers) include their name and contact information.
  • A statement of financial condition for the fiscal year's end and the most recent interim financial statement, as well as the name and address of the accountant/accounting firm, if it's not included.

 

In addition, any business in operation less than five years should provide a resume of the officers or directors, owners or partners. New businesses should provide details on the structure of starting capital, and if operating less that one year, a Pro Forma financial statement.

Open-To-Buy

Open-To-Buy refers to the amount that you can spend for merchandise within a specific time period, as determined by the Dollar Merchandise Plan. Calculate your Open-To-Buy to keep your merchandise investment in line with your merchandise dollars.

Your Open-To-Buy is the amount of planned purchases that have been budgeted for a given period of time, minus the actual orders (on order) that have already been placed, but haven't been delivered. Open-To-Buy may be expressed in dollars, units or both.

Open-To-Buy is like your checking account. Your purchases are deducted from your balance. For each month in your six-month plan, allot an amount for retail purchases. Because most merchandise orders are not received as they are placed, keep an eye on your balance. Information from unit control can help you calculate your Open-To-Buy.

Calculate your Open-To-Buy

Beginning of the month dollar inventory
-   Retail sales
+  Purchases
-   Markdown $
=  End of the month inventory

Order Writing

When writing orders, detail the following:

  • Beginning, delivery and completion dates
  • Style numbers
  • Quantities and colors
  • Transportation and shipping
  • Cost per style
  • Special terms

Original order forms are given to the manufacturer. Duplicates are needed for the receiving and accounting departments. Use the third copy to determine:

  • Outstanding orders
  • Receipt of goods in the department
  • Follow-up
  • Unit control records

Is my order finalized?

Until an order has actually been placed, you're free to change your mind about the order. Once the order is placed, it is considered a contract between the store and the vendor, and you have committed to receiving the merchandise.

Showrooms recommend that you write the orders and leave them before you leave town. Otherwise, mail it in upon your return.

Merchandising Notes

  • When you write orders, include brief notes about the merchandise.
  • These notes may help salespeople, as well as advertising and display departments.
  • Note expensive items bought for special customers or items that will be used for events.
  • Take quick photos to review merchandise. Just ask vendors for permission first.
  • Write orders as soon as possible to ensure on-time deliveries.
  • NEVER pack uncompleted orders or line sheets in luggage you check with the airlines.
  • Request to ship brochures or catalogs to your store. Don't weigh yourself down!
  • If you have too much paperwork, mail it via UPS or FedEx located on the 1st floor of the World Trade Center.

Shipping/Delivery

A ship date refers to the date the merchandise leaves the manufacturer's warehouse. It does not include the time it takes to arrive at your store.

Always confirm the exact ship date and estimated delivery time.

An "in store" date refers to the date the merchandise will arrive at your store. If you are targeting a specific date, you will need your merchandise at least three to five days before that date. Request in store dates for shipping and write them clearly on each order.

In addition to determining the form of FOB, determine the best method of shipping. Time and cost are important when determining transportation and storage.

The main methods of shipping after UPS are:

  • Railroad freight
  • Railway express
  • Motor freight
  • Parcel post
  • Air Express air freight
  • Truck-rail

Before shipping COD, most showrooms require a deposit.

Specify the method of transportation when placing your orders.

Remember, vendors rate and analyze the profitability of doing business with your store. They rate your store based on how well it does with their merchandise and on the fairness with which you treat them. Excessive cancellations, returns or customer service problems can cause some to rate stores as unprofitable.