If you’re an e-commerce business which sells to customers, a great way to boost your brand awareness and enter new markets is by opening your online store to wholesale customers. In other words, selling to other businesses. Other advantages of selling to wholesale include acquiring new customers and promoting your products. Here are our top tips on how to sell to wholesale as an e-commerce store.
Price your products for wholesale
Since you’re pricing for profit, it’s a bad idea to just cut your retail prices in half for wholesale. Instead, you need to come up with a wholesale price that takes into account your time, labour, materials, overhead and employees, but still allows you to make a profit. Once you’ve set your wholesale price, double that price to set your retail price, i.e. the price you sell to customers on your e-commerce site
Ensure your e-commerce store is wholesale friendly
If you’re deciding to move into wholesale but want to continue selling to customers, you need to ensure your website works for both markets. Various apps, like Wholesaler, identify which type of customer is logged into your website and gives them product prices based on that. This saves you the need of having to create one website with pricing for customers and one website with pricing for wholesalers.
Set your minimum amounts
A main advantage of selling to wholesale is being able to sell your products in bulk. When setting your minimum amounts, you can choose to either set a minimum amount of money your wholesale buyers have to spend on your products or a minimum of products they have to buy.
Make your products stand out from the rest
One great benefit of selling to wholesale is boosting your brand awareness. By wholesaling, you are getting the opportunity to market your products in other stores and in order to increase your profits, you need to make those products stand out. While the wholesaler takes care of the promotion, orders and shipping side of things, you need to think about how your product looks – everything from its product description to its packaging.