Top 10 Bribes for Fashion Retail Buyers
Common business practices vary among fashion retailers. Some retailers won’t allow their buyers to except so much as a donut from a vendor to avoid any hint an impropriety. Other major retailers allow what is considered for them to be “common business practices”. Most retailers would consider an occasional lunch or sporting event where the vendor is present to be a common business practice. As long as the buyers have a chance to reciprocate in some way there isn’t as much risk that anyone is doing anything shady. However, there are still many retailers out there that will purchase all of a vendors’ poor selling merchandise in exchange for getting a new pool put in their back yard. Check out the following Top 10 Bribes for Fashion Retail Buyers.
1.Money from vendors can come in many ways. Kickbacks are very common, where a vendor will offer to split his commission on an order with the buyer. Another way money is used is when the vendor pays off debts for the buyer such as college tuition and others.
2. Trips are a very common incentive used to entice buyers to purchase certain products. Sometimes the vendor will offer to send the buyer and a guest on a cruise and it has nothing to do with business. Other times vendors will invite the buyers to come to New York and they will pay for their flights, lodging at the best hotels, food at the best restaurants and tickets to Broadway shows and then they will tie this into a business meeting.
3. Luxury cars, such as Mercedes and BMWs have been given to buyers after making a large purchase at high-end retailers.
4. Home improvements have been promised such as putting in a pool, garage, new flooring, new countertops, or a new fence. In this instance it’s usually a more subtle bribe where the vendor will hear the buyer talking about needing a new fence and telling them that they know someone who can do it for them really cheap or for free.
5. Fine food has been a more accepted method of doing business. The vendor will take a whole team of buyers out to lunch or dinner at a 5 star restaurant as a way of thanking them for their business. Other times the vendor might send the buyer cases of their favorite wine or boxes of their favorite steaks as an incentive to buy their products.
6. Tickets to special events are another very common practice among vendors. Many vendors have box seats that they will provide tickets to various sporting events or concerts to entice the buyer to buy more.
7. Golf outings tend to be looked at as a way of doing business. Many a deal have been made on the golf course. However, when the vendor takes the buyer to an exclusive club to play golf and pays the high price of green fees etc. it goes above and beyond the normal business practice.
8. Free products can range from a pair of sample shoes that just happen to be in the buyer’s size all the way up to the entire line of clothing that a vendor sells being shipped to the buyer’s home.
9. Prostitutes being provided to buyers in their hotel rooms or the vendor will take the male buyers to a gentleman’s club and pay for special favors from the dancers.
10. Lavish parties thrown by the vendor for all of the buyers and their spouses is a common occurrence and frequently not even considered a bribe. However, when the vendor pays for a lavish party for the buyer’s kid who is turning 16, then it becomes a bribe.
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