In Buying agency business wherein we help brands, retailers, designers with buying services, helping clients find the right suppliers, we noticed customer were gradually moving closer to work directly with the suppliers. Our Indian suppliers had evolved and are also participating in all major fairs around the world.
However many customers still feel the need for Buying service providers in production countries for better efficiency and management.
The big question today is will big agencies carrying huge overheads survive. Except for a few professionally managed huge agencies who even fund the buying programs of clients till final sales, all other remaining big agencies with hefty overheads will gradually wipe out if they don’t evolve to become small.
Today it is about serving niche pockets, being a specialist as retail margins have tighten and clients have high expectations to stay relevant to their end customers.
Adaptations as per market needs will help to delivery BIG on service, though you might be small.
Also thanks to technology, you your computer, your phone can do so much today, which otherwise earlier needed an huge team.
Slowly and gradually it is the emergence of a new era of young dynamic computer savvy agents, who can handle multiple roles which earlier was played by 4-5 people in co -ordination to execute and order. They bring in simplicity in otherwise complex reporting and buying structures.