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-   -   About consignments (https://retailbx.sg/f2/about-consignments-1571/)

FASHRUS 10-03-2009 11:13 AM
Re: About consignments
 
Quote:
Originally Posted by EarthlyScents (Post 10191)
Now you're confusing ChinChic. She's asking from a consignee's point of view, not as a consignor because she's still new to business. Then again, ChinChic, what's your intention for knowing?:confused2:
dear earthly scent....
before u say that, READ her posts.. this is her original question.. ""let's say my product costs me $3 per piece, i intend to sell it at $10, so my profit is $7. so if i would like to put my items at a shop to sell at $10, if based on 30-70, does that mean that I can only take back $7 for one item sold?""

as u can see, this person want to put his/her things to a shop.. and was confused about the margins. and i replied preciesly to it, that he or she should should add on to the margin.. and just add another percentage to give it on consignment or put that items to a shop....

if i confused you with that chinchic then I'M TERRIBLY SORRY!

ChinChic 10-03-2009 09:51 PM
Re: About consignments
 
dear FASHRUS & EarthlyScents, thank you so much for your helpful replies, i think i sort of get the idea now...

and so sorry for not explaining properly earlier... as i wasn't sure what's a consignor & consignee... but as i was reading through the posts, i guess i should be a consignee: someone who's trying to get retailers with shops to sell her products.

you see, i'm in the process of getting some bags from an overseas supplier to sell in s'pore. one of the ways i'm thinking is to get a shop to sell them for me... at that point i did not know if i'm considered a consignor or consignee...

so sorry for the confusion caused. so now i sort of get it. in my example, as a consignee selling my items at $10 per piece when it costs me $3, if it's on a 30-70, then i should get back $7 and earned $4 out of it. yup :D

:thanx:

juinjuin 10-03-2009 10:33 PM
Re: About consignments
 
Chin Chic

Your are absolutely right on the last point with regards to the mechanisms of a typical consignment scenario.

Quote:
in my example, as a consignee selling my items at $10 per piece when it costs me $3, if it's on a 30-70, then i should get back $7 and earned $4 out of it.
However, I'd like to highlight that your understanding of the roles in question vis. consignor and consignee is reversed.

According to thefreedictionary.com:

Consignor is the person who delivers over or commits merchandise (this is the supplier in the retail context)
Consignee is the one to whom something, such as goods or merchandise, is consigned. (this is the retailer in the retailing context)

Similarly, in the shipping context, the consignor is the shipper, while the consignee is the receipient. If you are have used international couriers before, you should be familiar with this.

I need to clarify this as otherwise there might be confusion as to the type of ads intended for the 2 categories in BIZHUB:

Looking for Distributors or Consignee
Looking for Suppliers or Consignor

Hope this is clearer.

Please all, do not get overly worked up over the semantics. It can be a bit confusing, but I am sure no ill intention was intended by any party. We are all trying to help :)

:applause:

Regards

ChinChic 17-03-2009 12:48 AM
Re: About consignments
 
Quote:
Originally Posted by juinjuin (Post 10214)
Chin Chic

Your are absolutely right on the last point with regards to the mechanisms of a typical consignment scenario.



However, I'd like to highlight that your understanding of the roles in question vis. consignor and consignee is reversed.

According to thefreedictionary.com:

Consignor is the person who delivers over or commits merchandise (this is the supplier in the retail context)
Consignee is the one to whom something, such as goods or merchandise, is consigned. (this is the retailer in the retailing context)

Similarly, in the shipping context, the consignor is the shipper, while the consignee is the receipient. If you are have used international couriers before, you should be familiar with this.

I need to clarify this as otherwise there might be confusion as to the type of ads intended for the 2 categories in BIZHUB:

Looking for Distributors or Consignee
Looking for Suppliers or Consignor

Hope this is clearer.

Please all, do not get overly worked up over the semantics. It can be a bit confusing, but I am sure no ill intention was intended by any party. We are all trying to help :)

:applause:

Regards
Wow! thanks for the detailed explanation, really appreciated it! looks like i'm getting all the terms mixed up again :o i'll try to search for more info online so that i can understand more about this area... :thanx:

carousel 14-04-2009 04:08 PM
Re: About consignments
 
Wow thanks for letting me know, I had no idea the terms are so much more favourable to the consignee.

KittyMi 14-04-2009 05:50 PM
Re: About consignments
 
I thought the industry practice is 60:40. Are there shops that will take wholesale lot, not consignment. I feel that consignment is really not fair to the consignor as they have to invest huge amount of money & time to market the brand, but returns are lesser than consignee. Or am I doing my sums wrong?

I am in the process of seeking for shops to take my goods, but feel that 40% to consignee is really high. We as consignor have no negotiating power :(

EarthlyScents 15-04-2009 01:18 AM
Re: About consignments
 
Consignments have win-win situations for both parties although the consignors will have to sell to the consignees at a fraction of the retail prices. It's good for them as more people will get to know about the products they bring in.

cocoshoe 01-05-2009 12:31 PM
Re: About consignments
 
Hi,
Yes I think Earthlyscents is right both is win-win situation.
Because the consignor will have to fork out lump sum of money to buy or manufacture the stocks on the other hand the consignee dont have to have the money to have stocks but duty is to sell and get profit from it...
something like that lah...
and 30% to consignee and 70% to consignor is the usual rate going around as far as I know...

swee18 19-10-2009 12:43 PM
Re: About consignments
 
Is it normal to ask for security deposit if someone is interested in taking your items on consignment?

I am afraid that he/she might run away with me stuffs.. pushcart & shops not so but if running a bazaar.. I am not so sure...

marathon 19-10-2009 01:28 PM
Re: About consignments
 
Quote:
Originally Posted by swee18 (Post 16463)
Is it normal to ask for security deposit if someone is interested in taking your items on consignment?

I am afraid that he/she might run away with me stuffs.. pushcart & shops not so but if running a bazaar.. I am not so sure...
You can ask but its up to them to give in. Because they also affraid that you will run away with the deposit too and leave behind your items as sold items. Consignment is like that, its both ways.

Previous someone also asked me a deposit but I don't. Still the person gave in.


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