Last month, in a widely-reported survey, nearly 700 small to enterprise-level brands gave their thoughts on the future of wholesale. The survey found that 80% of brand executives surveyed do not have a negative outlook on the future of wholesale, and in fact, 90% plan to continue investing in the wholesale side of their businesses.
Wholesale continues to be a strong revenue stream, despite disruptions to the global economy caused by the coronavirus pandemic. However, many executives said that there needs to be some technological changes. That is, more automated and streamlined processes need to be implemented in order to survive.
Among the biggest pain points in the wholesale distribution process, from an operational and IT standpoint, “lack of standardization” was the most common grievance, and by a comfortable margin. Following this, “lack of alignment on the ordering process,” “lack of support from retail partnerships,” “supply chain not streamlined,” and “lack of data” caused an equal number of headaches.
As for where the money is going, and where respondents expected to see the most growth, the directions were clear. Executives and brand leaders are going online, and via e-commerce, to streamline processes which have only grown more complicated in light of recent events. Clearly, brands remain committed to the wholesale model, and are looking online for ways to improve upon it.
This is where new global online wholesale marketplaces, like Shop The Globe, come in. In particular, at Shop The Globe, we have eliminated the costly and redundant middlemen, which will help businesses cut costs in these uncertain times.
Owned by an established global news company, Shop The Globe allows sellers to post news publications and listings on our website at no upfront, out-of-pocket cost. In return, Shop The Globe charges sellers only 12% of what they sell.
Shop The Globe operates in over 100 major languages, allowing sellers to connect with buyers all over the world in languages you each understand. Shop The Globe also offers a wide variety of currencies, ensuring an easier flow of goods and capital wherever you each may be. More of both are on the way.
Shop the Globe is our third site, along with Freelance Global Gigs, and parent site, Communal News. Communal News offers up-to-date reports and forecasts on a wide variety of products and services, markets and industries. We also provide readers daily news, business, sports, and analysis. Anyone can read our targeted articles on Communal News, Google News, or Facebook News. For more information about our sites, click here.
All three sites have demonstrated quick growth and established themselves as global platforms at no or very low cost to our vendors. With a simple sign-up process and minimal setup, Shop The Globe allows businesses to to get up and running in practically no time.
You recognize the value of the wholesale distribution model. Let Shop The Globe help you go digital, innovate, and meet the challenges necessary to expand your business. Try it today! Shop the Globe’s Global Wholesale Vendor Registration is free.