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James Shores, the future chief marketing officer at Fishbowl, discusses consignment in this whiteboard Wednesday tutorial. Consignment involves supplying goods to another store without them being purchased yet, leaving most of the risk on you as the supplier. However, there are benefits if you can track and manage them appropriately. There are three typical products to consider: basic products, new product lines, and high-end expensive lines. Consignment can be beneficial when trying to test out new markets or products.
