You may start seeing a trend with a few of the topics I will be choosing for our beloved contributors over the next few weeks. I think it is so important to gain insight as to what makes all of us better at what we do. I hope that there are at least a few buyers out there that will benefit from Ken’s buyer of choice. I am excited about the fact that Eddie is here in Miami….perhaps we will have to give him a little visit to congratulate him on a job well done and see the coin horse first hand! Thanks for yet another great article Ken!!

This week’s topic: Who is the best buyer I ever worked with and why? 

This week’s article has taken an incredible amount of thought.   I also feel that under the umbrella of full disclosure I chose the person based solely on the criteria listed below.   Most anyone who has ever dealt with my pick will substantiate my decision.   I must also admit that the person I have chosen is an account of Twig Footwear, although he buys very little from me.   It would be easy to pick one of my best customers but then I would dilute the relevance of this article as well as my own credibility.  

To begin the process, I had to determine in my own mind what constitutes a great buyer.  Here are the criteria of how I define a great buyer:

1. Longevity.  

2. Drive

3. Financial acumen

4. Eye for product

5. Willingness to take risks

6. Knows his/her customers

Eddie Quintana is the buyer and owner for a single store operation in Miami named Sesame Step.   I have known Eddie for years and have watched his business grow.   Eddies shop is located in a completely un-inspiring strip center.   You cannot really see it from the street and over the years, the tenant turnover has been steady.   Sesame Step is located exactly one store away from a Pay-less as well.

Longevity:  Eddie has been in business for 21 years in the same location.   There are very few retailers that can lay claim to this.

Drive: Eddie began his shoe career working for someone else.  He has told me that when he decided to leave, he did not necessarily have the support of everyone close to him.   Like any new business, he had his struggles but he never stopped believing in his own abilities.

Financial Acumen:  Eddie knows full well when he has to cut back.   He anticipates based on history and trends.   He is constantly on the lookout for ways to save money and increase his business.   The last time we were together, he showed me some product he was sourcing himself.   A one store operation participating in makeup is almost unheard of.   Eddie found a way because he knew he needed the margin.   Furthermore, he challenged the vendor to use smaller boxes to save on freight expense and space.   Eddie has also had a coin operated horse in his store for years and years.   No doubt that horse has paid for itself thousands of time over not to mention a few vacations.

Eye for product:   There is a reason why many Presidents, CEO’s and line builders shop Eddie’s store.  Eddie carries some brands that are not too well known in the market place.  He keeps his assortment fresh thus giving his customers a reason to return frequently.   Eddie does carry major brands, but he will never allow a single brand to dominate his assortment.  He has not succumbed to the idea of driving traffic by the ubiquitous “buy one get one” sale.   Eddie prefers to lure his customers through service and product.   No doubt, this is why he possesses longevity!

Willingness to take risks:  Eddie has guts!   He does not just play it safe.   If Eddie finds a brand he believes in, he gives it a try and is very rarely wrong.   He could care less if the brand is not well known.   One of my favorite stories about Eddie is when a vendor came to visit him and “encourage” him to buy more of this brands product with the “persuasive” argument that if he did not, this vendor may be forced to open up additional distribution that would compete with him.   Eddie gave this brand (and VP) his blessing to do just that and welcomed the threat of increased competition.   Eddie is beholden to no one.

Eddie also never carried Crocs.   Three years ago, when it seemed that the public could not get enough of this product, Eddie did not vacillate one iota.  He felt the product did not align well with his vision so he did not put them in.   He also realized he could ill afford to trade down to a less expensive product.  

Eddie also slowly but deliberately built a customer who appreciated the design and quality of European product.   More expensive, unique product helps to differentiate him from the competition. 

Knows his customers: When considering a candidate for this article, I knew the person I ultimately would chose had to work the floor.   There is no better way to sustain a business than giving your customers a reason to shop and to return to your store.   Eddie does this by scheduling himself on the floor.   He of course knows most all of his customers by name and is now fitting a second generation.  

When I called Eddie to get his permission to write about him, we had occasion to discuss his business.   Eddie is not immune from the economy which seems to be magnified in South Florida.   But Eddie was optimistic versus pessimistic.    His comment to me was that he “loved the business and has passion for it”.  Every downturn has an upturn, and Eddie at this very moment is positioning his store for when this happens.

Ken

www.twigfootwear.com