Imagine if you could devote more time to product design and innovation, brand enhancement, and streamlining operations, rather than customer acquisition and sales.
Some entrepreneurs find these tasks easier than marketing, which can make sustaining and expanding a business difficult. By establishing a wholesale channel, you can delegate some (or even all) of this responsibility to other businesses.
If you are like most of the wholesalers today who experience struggle in looking for clients, then you are lucky since we will be discussing below where you can find these clients whether you sell clothing, toys like a gel gun, or gadgets.
Methods for Locating Wholesale Customers
Now that you’ve determined your wholesale pricing strategy and configured a wholesale channel in your store, it’s time to seek out prospective wholesale customers. But where are these retailers located?
- Exhibiting at trade shows
Conventions are one of the most common places for wholesale companies to make connections and locate retail partners. There are specialized trade shows for almost every retail category, from baby clothing and accessories and athletic leisurewear to furniture and home decor. There are even directories of trade shows that list the top trade shows by category.
However, trade shows can be expensive. Often, you must travel to the location of the trade show and pay a substantial fee for a booth if you wish to exhibit there. Before deciding to exhibit, it is worthwhile to attend trade shows and walk the floor to determine if it is worthwhile. Note that trade shows are a great place to make connections and find new customers.
- Utilizing your consumer-direct website
Frequently, a retail customer will find you first. If your direct-to-consumer advertising has been successful, you may have already got a message from distributors who wish to carry your product in their online or physical stores.
When you advertise online to consumers, you also reach business owners who may be interested in carrying your product. This is why it is essential to maintain a link in the footer of your website for wholesale inquiries. This makes it simple for website visitors to contact you regarding potential opportunities.
- Contacting complementary brands
A further advantage of a wholesale channel is that, unlike direct-to-consumer, you do not always require a large number of customers to grow. If you have a small number of high-quality retailers who successfully sell your product, they will likely continue to place larger orders over time.
To find these partners, it is worthwhile to personally reach out via social media, phone, or email to a company you believe would be a good fit. A company that sells complementary products would be an excellent starting point.
- Joining a wholesale or drop-ship marketplace
Through online supplier marketplaces like Alibaba, Dhgate, Doba, or Modalyst, you can also get your product on the sites of other retailers.
Many retailers want to drop-ship products through their e-commerce stores and are searching for local suppliers. You can list products from your Shopify store on these marketplaces (usually for a nominal fee) and begin drop-shipping orders to retailers as they generate sales for you.
A New (Old) Business Model for Wholesalers
Direct-to-consumer brands can launch more quickly and expand digitally due to the rise of e-commerce. Consequently, many believed that wholesale was a fading retail trend. Nonetheless, a new wave of wholesale businesses is thriving in the e-commerce era by rethinking the wholesale model.
Both direct-to-consumer brands seeking new sales channels and entrepreneurs seeking to reduce marketing expenditures are launching wholesale operations. With the right pricing strategy and the right setup, you can begin to expose your business to new revenue-generating partnerships and watch your product thrive among other complementary brands.