As a brand owner, one of the main problems you will encounter is finding ways to sell your products. Getting your products into major stores is a fantastic way to secure your bottom line. However, selling directly to retailers is very time-consuming and difficult. That’s where distributors come in. Finding and partnering with a wholesale distributor is a strategy that will provide you with consistent income and security. When it comes down to how you identify the best sources for your business, something as simple and obvious as an internet search may be a great place to get started.
One of the biggest challenges wholesale brands face is how to set the right price. It can often be hard to determine your wholesale pricing strategy when you’re supplying goods in bulk to distribution groups, retailers, and other channels to sell to their customers. As a supplier, you’ll need to find the right price point that appeals to retailers.
Even as a wholesaler, you need suppliers that fit your business’s unique needs. Unless you’re running the manufacturing facility, you’ll need to find a wholesale supplier that can handle your volume of business at a price within your budget. It's also important to find a supplier that's reliable and works in the areas you want to do business.
Consumers are more comfortable than ever about making purchases on handheld devices. That’s great news for wholesalers and business to business (B2B) companies, as the mobile commerce trend has resulted in plenty of mobile commerce apps and software available today.
In the past, running a wholesale business might be limited to print catalogues, cold-calling or door-to-door sales, and data entry into spreadsheets. Now there are alternatives to managing your business and getting your products out there, such as starting a B2B eCommerce store.
Supply chain management involves controlling the upstream and downstream flow of materials and finances from sourcing to manufacturing and distributing, to retailing and finally into the hands of the end consumer. Efficient supply chain management also ensures that a company maintains a constant flow of fresh products at an optimal level that matches customer demand while keeping inventory levels at a minimum to minimize carrying costs.
B2B (Business-to-business) businesses include distributors that represent manufacturers and wholesalers who benefit from greater purchasing power by buying in bulk.
- Getting started with wholesale
- Sales channels for wholesale
- Supply chain management for your business
- Metrics to measure your business success