As a wholesaler, you can increase sales and global awareness if you know how to find the right platform.
There are three basic ways to sell your product:
- Sell directly to customers via your website.
- Sell to retail stores, which then sell to customers.
- Post at a wholesale distributor, which sells to retail stores.
In our small business we are involved with all three, but I would like to introduce you to wholesaling online, a newer global concept.
Selling directly to retail stores or online stores should be a given. Smaller store owners tend to be more satisfied with your products and there are not always able to give needed attention to expanding their offerings. The hurdles are even higher when trying to get into major chain stores.
Some of the larger stores require allotting fees, which basically makes you pay for shelf space, depending on how competitive that market space is. You will often find this marketplace is very competitive unless you have a true breakaway product, or get on a TV show called SHARK TANK.
Some things are very clear: to increase your sales you will have to increase both your channels and the territories you serve, while also increasing and improving the products you’re currently offering. It is really quite the challenge.
You should always look to find an online wholesaler, especially one that can offer additional services and add new markets for your products that you are currently not serving. The biggest pitfall to avoid is not to sign on with a wholesale firm that cannibalizes your already established sales or relationships. In global sales that almost never happens.
If the wholesale marketplace is a true extension and sales channel for you (knowing it could greatly expand your sales), this relationship should be opened immediately. You should begin your search for online wholesale marketplaces early and have them ready once your new products are prepared for the market.
Most retail stores or online solutions, especially if they are presenting unique items, want a central shopping location, because it’s the one-stop shopping advantage, one online location, one invoice, and one check to write. They don’t want to make dozens of calls and deal with dozens of company salesman; they want to review and judge the products on their own time, and often without outside interference.
So your desire to land a distributor should be a no brainier for your business, and this is very rare, but for the first time, due to expanding global markets, it has never been easier for your product to gain access to an online wholesale market listing. So before you pitch a wholesale distributor, relax and find the one that will market you worldwide, in every major open country and most global languages, with no upfront costs and a 12% fee on every sale. You gain immediate entry into world markets and this could drive sales, giving you direct control of all costs, and marketing.
The more products you list the better; online wholesalers like to sell multiple products from individual suppliers for the same reasons retailers like to buy from a single marketplace instead of from dozens of individual suppliers.
You can measure the global demand. Remember that wholesale buyers evaluate and judge your product far differently than you do. Most people believe that their product is groundbreaking and special, but the buyer often sees this as another product in a crowded marketplace. That is why opening up a new channel of sales, receiving online feedback, introducing new products and additional distribution is beyond important– it will become essential over time and the lifeblood to your growing business.
This is the one time that even if you can’t land many retailers, you still could land a fast growing online wholesale merchant called Shop The Globe.