Twenty years ago, PriceMaster, a wholesale distributor in Woodside, NY, wholesaled about 1,000 different products throughout the tri-state area from a warehouse of a few thousand square feet. Today it sells more than 3,500 products, an ever changing array, from a 100,000 square foot warehouse to customers around the world. Annual sales volume is now close to $100 million.
Despite its name, price alone doesn't account for the company's success and growth. Business has grown overwhelmingly from referrals, and that says Imad Dawoud, vice president of sales, is because "our goal was and continues to be number one in customer service. Every order is a priority order," he adds.
While competitive price is an important consideration at PriceMaster, Dawoud, says that good service trumps price. Yet, in most instances, if a customer finds a better price on its products, PriceMaster will often match it.
More important, it now carries a range of goods that allows customers to gain more of their inventory from them, and PriceMaster also scours sources to obtain some products that customers can't get anywhere else. One example is the "Chaser" five hour energy product that is among the most popular items on retailers' shopping lists. "We're one of few distributors that was able to obtain some exclusivity with the maker," Dowoud says.
In addition, "we're always on the lookout for what's hot and new. We're like a supermarket in that we're constantly refreshing our mix with new, hot products."
In addition, the wholesaler requires a minimum order of just $200, and that can contain a mix of any of the items it carries. Those now include batteries, over the counter drugs, lighters, novelties, health and beauty aids, car fresheners, condoms and hygiene products among other top selling categories.
The low minimum allows PriceMaster to serve Mom and Pop independents as well as big chains. This has allowed the wholesaler to gather several thousand customers throughout the U.S., Canada, the Caribbean and abroad.
A majority of orders that are received in the morning are shipped the same day, and truck orders go out the following day. The company employs 50 people in order to assure that all customers get personal service.
Its website is updated every 24 hours, so customers can be assured items are in stock and can also see what's new. It runs special promotions every month, and informs customers by both email blasts and mailed flyers.
PriceMaster provides a new catalog of approximately 75 pages, three times a year. The catalog, like the website, shows pictures and prices along with the item number. PriceMaster stands behind every order. "If anything is damaged, a rarity, we give credit on the spot," Dawoud says.
For more information, contact:
5707 31st Avenue
Woodside, NY 11377
Toll Free: 800-538-3873
Toll free fax: 888-538-3873
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