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defi nitely value there.” But price is not everything.
Peterson’s secret weapons? Reputation and relationships. “My mattresses are from Sealy. I deal with them directly. I have partnerships with other people who have been in the business for 20 or 30 years,” he says. “People buy from people.” John Olivarez, president and
CEO of Mid-America Liquida- tors, has also done well selling discount beds to independent retailers. “Some of our custom- ers buy a load of mattresses every two weeks,” he reports.
“Our mattresses offer a tre- mendous savings from prices at mainstream bedding stores. Where they sell something for $2,000 to $3,000 for a set, our customers can sell them for $599 to $699 and still make a 50 percent markup.” But big ticket items like the
furniture and bedding which Mid-America specializes in, is not enough. Extraordinary bar- gains for common household items are essential for retailers. “They make their profi t off the big ticket items like the furni- ture and the mattress,” says Olivarez. “But it takes that small priced item to get them into the store. Those seem to bring in customers, and then
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they see the furniture and big ticket items, and they see that
those are good bargain
items compared with other furniture dealers.” Those, “small priced items,”
are growing in importance for Olivarez. “We have a dollar store category. It’s not our larg- est department, but it seems to be the most active in this type of economy. We carry top of the line health and beauty prod- ucts, like laundry detergent and dishwasher detergent, that are all high quality at closeout pric- es,” he says. “In this economy, people are looking for the lower price bargains. They’re buying the laundry detergent because
continued on page 90
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