Kole Imports, a wholesale general merchandise supplier, has reached its 25th year in business, in what leading economists are calling the worst economy since the Great Depression. Kole Imports is one of the very few companies that are not struggling for business. The company managed to dodge the massive dip in the market by adapting to new trends in buying, a little bit of luck, and a personal pursuit to bring their customers great deals.
Already supplying a large portion of their merchandise to discount variety stores and dollar stores, Kole Imports was situated in the right place at the right time when the country’s financial situation started to take its turn in 2006. In light of these events, the buying behavior of consumers and suppliers changed as everyone began to tighten their belts. According to Paco Underhill, Author of Why We Buy: The Science of Shopping, in a Bad Economy “People are trading down…the person who used to shop at Wal-mart is now shopping at Dollar Stores.” This means there is a whole new group of shoppers looking for better prices, and they are finding them at the retail outlets supplied by Kole Imports.
Two years ago, when the recession was in a full downturn, many wholesalers and retail chains went out of business, selling off their remaining inventory. Kole seized the opportunity and began to purchase more and more closeouts from dealers who were affected by the market conditions. Kole was able to purchase name-brand products at incredibly low prices, and in turn supply them to their customers. Suddenly, top-quality, name-brand items were available for mere pennies on the dollar. Customers were thrilled with all of the new merchandise, and it wasn’t long before Kole created a Closeout Buying Department.
Danny Kole, co-president of Kole Imports, always wants to give his customers a great deal, and every closeout is carefully considered with them in mind. Upon looking at a prospective item, he’ll think “Is this a great deal for this price?” If it isn’t, “then I don’t buy it”, Kole said. “We always try to give the customer a great deal, and that’s been the philosophy for 25 years, and when times are tough people have to get a great deal, which is why we’ll always be around.”
Now on its silver anniversary, Kole Imports is bigger and better then ever. With their willingness to adapt to every buyer’s needs, and their dedication to giving customers a great deal, they have created a recipe for success. In a tough economic climate Kole Imports has survived, prospered, and has good reason to celebrate these days.
For more information about Kole Imports please visit www.koleimports.com
Article adapted from the original version by Leslie M. Cook