A maker of high-end fragrances is moving into the flea market business with special deals on close-out products selling at steep discounts. “For 40 years, Romane has been in the fine fragrances category,” says Tom Tompkins, vice president of business development for Romane Fragrances. “In the flea market channel, we want consumers to have access to high caliber fragrances at extremely low prices due to inventory overruns, including licensed brands that have come to an end. Because we are closing the product out, we’re in a good position to mark them down.”
That means the company is offering very competitive prices on remarkable products. “Our model is to retail our products from $9.99 to $99.99. The vast majority are under $50,” explains Tompkins. “In closeout mode, our model is to wholesale those at 10 percent of the suggested retail. If it is a $50 suggested retail, we’ll seek to wholesale it at $5. Depending on the margin they want to take, flea market dealers can retail that at $10 or higher. They can very easily cut the retail in half and make a ginormous margin.”
Tompkins says that the value to price ratio makes these deals compelling to swap meet and flea market vendors. “These products are hidden gems. They have a loyal consumer following. They click really well with the consumer, and it is an easy sale to make,” he says. The minimum order size is $100, with free shipping at $500 or more.
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