When you purchase wholesale stock for your business most wholesalers use a set of terms to give you a better understanding. Knowing these terms could give you the advantage of the stock condition, the source of supply, the approximate market value, and possibly the size and style variations.
In this article, we will cover 5 terms that surplus fashion and liquidation wholesalers use which might help you when buying wholesale clothing. We will underline each term to make them visual and clear.
5 wholesale terms that will give you an edge when buying fashion stock
What does ex chainstore mean?
The term Ex chainstore is used by wholesale ex chainstore stock suppliers. Ex is used to protect the brand owner's rights by the wholesale ex chainstore supplier, implying that the stock no longer is being sold in the store. Chainstore means literally a chain of stores. For example, Next, New Look, or Marks and Spencer all have a chain of multiple clothing stores therefore classed as chainstore.
What does ex high street mean?
The term Ex high street is very similar to ex chainstore. In the previous decade, it more likely meant the slightly upper-end store labels with better stock quality. But nowadays UK discount clothing stores such as Primark or supermarket store brands like George from Asda are also classed as the high street too. The concept originates from operating from the high street!
Additionally, today's UK online clothing retailers such as Asos or Boohoo are also classed as high street retailers although they do not own brick-and-mortar stores.
What do clearance lines mean?
The term clearance as it sounds is used for implying to get rid of the stock. This indicates that the price will be much lower than its usual price. Lines mean style, it represents a style run not an extensive range. For example, a line of clothing is jeans, jackets, or shoes for women.
The important thing is it will only be one clothing style and a certain quantity although can have multiple colors. Such as a clearance children's wear line could be some kid's swimwear clothing stock which is one style with a full-size range and a color variety.
The quantity of the stock can be small or large but it usually indicates a larger quantity of stock otherwise the wholesale clothing supplier would most probably sell it as a wholesale bulk stock bargain.
What are job lots?
The term job lots indicates a range of different variations of stock mixed as a bulk deal. It originates from jobbers, people that purchase a bundle of stock that they class as a bargain.
This can be different wholesale categories mixed together such as ladies wear, footwear, and accessories or it could just be a range of dresses for women. By no means it does not mean poor quality as long as the stock is sold as new.
What is bankrupt stock?
Bankrupt stock means the previous owner of the stock became insolvent and the goods have been liquidated to recoup administration costs. This means the wholesale clothing business or clothing re-seller will sell the stock for a fraction of its value.
Whether it is clothing or accessories the wholesale supplier could announce its bankrupt clothing goods to attract buyers indicating the price is low, or might not say and sell it for its market value.
Usually, most bankrupt goods end up in registered UK auctioneers or sold by registered liquidators rather than in an online wholesale business.
On the contrary, these goods also do get bought and sold by wholesale clothing businesses, online retailers, market traders, and many more.
At Top Down Trading we also use these terms for better clarity with our product listings.
Hope you found this article informative and a fun read!