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As Amazon sellers, we strive to get the best bargain day in day out with suppliers. The most difficult part comes when you are trying to negotiate for lower prices. Suppliers are shrewd – almost of them quote prices higher than the products’ real value (especially if you are dealing with suppliers from countries like China) – and refuse to budge, no matter what you say.

Negotiating for lower prices with suppliers requires a lot of tact. If you overdo it, you may burn bridges and earn a bad reputation with suppliers of the same industry. On the other hand, if you fail to make your stand clear that you are not going to pay more than what’s required, suppliers will see you as a pushover and take advantage of you. To avoid these situations from happening, we will be sharing six simple strategies to help you negotiate and get better prices from your suppliers, without sacrificing quality and workmanship.

Strategy 1: Prepare data for negotiations

One of the best practices for any negotiation process is to prepare data to share with the suppliers. Presenting data in a clear, simple format, such as making a comparison table, will put you in the driving seat of the negotiations, regardless of whether you are going for quality or cost.

For example, you can make a quick, simple table to compare the price, quality, and material, etc. Here’s a sample template provided for you.

The reason why you want to prepare a table like this is to show the difference between the suppliers very clearly. Sharing this type of table with suppliers will show them where they stand with one other. That allows them to “negotiate against themselves” instead of giving you broad statements, quotes and empty promises in order to secure a new customer. Do adjust the table accordingly if you feel that the information stated puts you into a weaker negotiating position when you are facing any one supplier!

Stay tuned as we introduce you to more negotiating strategies with suppliers!

Check out the other Strategies for Negotiating with Suppliers here:

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