As independent retailers get on track to make the most of the £1bn sales opportunities offered by this summer’s Olympics, the National Federation of Retail Newspapers (NFRN) is warning members to be alert to branded products and gimmicks that “may not last the distance”.
NFRN trading director, Russ Simper, said: “Not surprisingly, and as the countdown to the Olympics begins in earnest, there is a wealth of branded products flooding the market. Some of these are being offered via third party suppliers who invoice retailers through their news and magazines wholesaler account.
“Any retailer buying through this route is reminded to carefully read and understand the terms and conditions of supply as we believe that some of the products currently being offered are overpriced and, while they come with a future buy back guarantee certificate, will have to be paid for upfront, with a very limited time span for returning which could have a massive impact on our members’ cash flow.”
Simper also warns that more often than not these unsold goods were not returned back via the wholesaler but had to be forwarded to a specified address, with all postage paid by the retailer.
NFRN members are also reminded that they are able to opt out of promotions run by third party suppliers. To do so they can:
- tell the telephone canvasser to remove their name from their call list
- Write to their wholesalers instructing them not to pass on their business details to a third party. An opt out form can be found on the NFRN website at www.nfrnonline.com
- Contact the NFRN Helpline on 0845 601 5818
Source: National Federation of Retail Newspapers (NFRN)