How we got grifted by a multi-billion dollar grocery distributor

Re:How we got grifted by a multi-billion dollar grocery dist... by interactivecode on Friday December 30, 2022 @01:19PM (#34187988)

I would love it if the EU or government would enforce equal payment terms for whole company. Lets say a shop wants to have a net 30 terms with their suppliers, then they should also offer net 30 terms for their customers.

This would equalize power dynamics. The large corp shouldn’t be allowed to demand immediate payment on one side and then just significantly delay payments on the other side.

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Re:How we got grifted by a multi-billion dollar grocery dist... by legitster on Friday December 30, 2022 @01:27PM (#34188120)

I think it would be hard to sell regulators on "make business-to-business more egalitarian at the expense of consumers".

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Re:How we got grifted by a multi-billion dollar grocery dist... by reillyse on Friday December 30, 2022 @01:53PM (#34188469)

So I’d sell products to my customers (say bags of coffee) and then 30 days later come by their house (charge their credit card) to collect?

This is a terrible idea. Half of the people wouldn’t have the money and your company would become a debt collection agency. You’d be forced to charge at least 3X for the product.

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Re:How we got grifted by a multi-billion dollar grocery dist... by Dylan16807 on Friday December 30, 2022 @02:12PM (#34188715)

That's the point. If you don't want that, then don't do it to your suppliers.

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Re:How we got grifted by a multi-billion dollar grocery dist... by interactivecode on Friday December 30, 2022 @02:17PM (#34188779)

indeed. They should realize how ridiculous the whole net 30 days is .

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Re:How we got grifted by a multi-billion dollar grocery dist... by astrange on Friday December 30, 2022 @02:26PM (#34188906)

You’re already giving the customers net 30 by accepting credit cards. Offering BNPL/afterpay would be another way to do it.

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Re:How we got grifted by a multi-billion dollar grocery dist... by fbdab103 on Friday December 30, 2022 @03:34PM (#34189756)

No, the credit card company is on the hook for your debt and will pay the business. The credit card company will be the one coming after you in 30 days looking to be made whole.

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Re:How we got grifted by a multi-billion dollar grocery dist... by toast0 on Friday December 30, 2022 @07:25PM (#34191838)

The merchant isn't being paid immediately either though. I don't think Net 30 is unusual for merchant accounts, but it's been a long time since I was exposed to details of payment processing (knock on wood)

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Re:How we got grifted by a multi-billion dollar grocery dist... by caseysoftware on Friday December 30, 2022 @02:01PM (#34188583)

> they should also offer net 30 terms for their customers.

Consumers already have Net 30 terms via credit cards.

The difference is that the shop isn't waiting for you to pay and the credit card company takes on the risk.

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Re:How we got grifted by a multi-billion dollar grocery dist... by interactivecode on Friday December 30, 2022 @02:16PM (#34188769)

quite a significant difference for the complete population of Europe where basically no everyday purchases are made by credit card

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Re:How we got grifted by a multi-billion dollar grocery dist... by Ekaros on Friday December 30, 2022 @02:30PM (#34188959)

That is very country specific. I could do almost all of my purchases with credit card if I wished. Or with buy now pay later. I don't really care, I pay my full balance on the CC at the end of the month anyway.

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Re:How we got grifted by a multi-billion dollar grocery dist... by NavinF on Friday December 30, 2022 @02:31PM (#34188972)

That's on them. If they want net 30, they can get it.

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