2-7. Is it possible to negotiate the price at Korean Wholesale jewelry Market?

Is it possible to negotiate the price at Korean Wholesale jewelry Market?

 

 

 

Namdaemun Wholesale Jewelry Market has almost the same wholesale price for each store.

In fact, it's almost impossible to negotiate the price.I think the price discount is more accurate than the price negotiation.

 

The wholesale price that they supply to all retailers is the same wholesale price.

Because it's hard to remember which companies they gave the different price of products, and the other retailers also ask them to give same discount price if the other retailers  know that the wholesaler have discounted them.  

 

So wholesalers are too lazy to think about this and that, so they are selling at the same price, whether the quantity is large or small.

 

Still, there are some companies that offer overall price discounts rather than bargaining for individual products. Let's look at an example of a price discount

 

1) Request a discount

 

For example... If you buy 554,500 won, you can say that you get only 554,000 won without 500 won at the end. In fact, even if you buy a lot, most of them don't give you a discount.

 

 Just think of it as a discount on the amount at the end of the total amount. In other words, most places give consideration to the extent that they discount the total amount rather than discounting the individual price of the product itself.

 

2) Export Fee ration - 5%

 

If wholesale purchases are not domestic (domestic sales and distribution) but exports, they often give more discounts.

 

For export competitiveness, there are places where individual wholesale prices of products are reduced. In this case, we need to make a steady transaction and order many quantity to match the export price.

 

If you go around Namdaemun Wholesale Market, you can see people from export agencies.

It is a case where you show a sample of the product to an existing overseas buyer or when an overseas buyer comes to Korea, you go around the wholesale market together and write down the quantity and send it overseas at once. 

 

In this case, the agent margin usually charges 5% of the product price to the wholesaler buyer. 

 

In other words, if it is an export, the wholesaler gives 5% margin to the export agent, so it is the same as saying that if it is an export, a discount of at least 5% is possible.

 

Usually, it is about 5%, but if there is a large quantity and a steady transaction, the wholesale price of exports may decrease a lot. Wholesalers tend to make concessions because they have to close the deal first. 

 

First of all, if the purpose of purchasing Namdaemun products is to export them, you can also get a discount of at least 5% when bargaining for prices, so you can use this information well.

 

3) "Please match the price~" Strategy

 

Rather than asking for a lower price...*"Please match the price"* may be smoother. If you do offline business or online shopping, you may have your preferred selling price range. 

 

For example, you have to sell it at 2.5 times the wholesale price to get a profit structure.There may be an internal rule. But when I did 2.5 times the wholesale price, the price range I preferred didn't come out. 

 

It's a concept that sells for about 5,000 won, but if you buy it for 2,000 won, you can sell it for 5,000 won by 2.5 times, but if the wholesale price of the product you want is 3,000 won... We have to sell it for 2.5 times = 7500 won, but we can't sell it for 7500 won.

 

However, if you really want to buy a product that costs 3,000 won, but you have to buy only the wholesale price of 2,500 won, it's a good idea to say this case.

 

"Due to our sales structure, we have to match the purchase price of 2,500 won, so is there anything you can match from 3,000 won to 2,500 won?"*

 

Or 

 

"We need a reasonable wholesale price of 2,500 won...It would be nice if you could match the 2,500 won price range..." That's what I'm saying.

 

"Please give me a discount~" 

If we do this, They feel awkward. 

 

"Please adjust the total amount~"makes price bargaining quite smooth.

 

So if you want to get a little discount on the price when you buy it, it would be the smartest way to ask for the discount at the end of the price when you check the last transaction amount or the price when you choose a product.

 

For your information, You don't have a lot of transactions and the amount of purchase is small,

But if you ask for a discount...They are going to say 

 

"no anyway !"

 

It would be better not to talk.  😅

 

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