5 Ways to Increase Your Wholesale Sales
As a wholesaler, you make money when retailers buy your goods. If you’re out of ideas on how to attract more retailers, we have 10 tips that you might be interested in!
Increasing Wholesale Sales
Use the following tips to create a buying experience that retailers love:
Offer specials that bring retailers better-than-wholesale prices
Building double savings into your offerings through daily, weekly, or monthly deals lets you one-up your competition, moving your merchandise more quickly and easily. Retailers will watch for specials and will appreciate the added savings they receive when they deal with your company – which means, more orders for you.
Like any retail establishment, wholesale businesses can also offer special deals on merchandise, beyond the initial wholesale discount. They can also offer special incentives in the form of rewards to sellers that purchase in bulk Think Thorn Apple Valley, maker of various types of sausage, hot dogs, and other meat products. The company created an incentive program that won the Association of Incentive Marketing (AIM) Gold Incentive Showcase Award. How was it so effective? They incentivized meat managers at Pathmark supermarkets with various Sony products or AT&T telephones, based on the percentage of their sales increase. The sales increased by a huge 22 percent.
Provide Excellent Customer Service
Always treat your customer with courtesy and radiate professionalism. Be willing to go the extra mile for a retailer who purchases your products, and don’t sweat losing occasional arguments with your clients as long as you retain their business in the long run.
The little gestures carry a lot of weight, just take Amazon for example. The company implemented many firsts to take the customer experience to the next level. Among them are free shipping, order tracking, one-click ordering, customer reviews, and related product recommendations that make ordering quicker, easier, more convenient, and less costly.
Make ordering, delivery, and billing as seamless as possible
Automate your order management and product distribution processes as much as you can. This means less waiting for busy retailers who want a simple, streamlined process, putting your company near the top of their lists of wholesaling firms to bring their business to.
Within six months of fully automating its end-to-end distribution system, WinnCom Technologies, a distributor of networking solutions, achieved full ROI – nearly $250,000 – with projected annual savings of 20 percent of inventory value ($1.2 million to $1.5 million). In addition, the company nearly doubled its revenues during the six-year period following the automation of its operations (2000 – 2006).
Streamline your operations
Many business people who run their own company operations expect efficiency from their suppliers. So, do everything you can to show the busy professionals who purchase your products how much you respect and value their time.
Offer discounts to customers who buy multiple product types
In fact, you may want to suggest additional merchandise based on the order placed by the retailer, a process that can either be automated or handled by a live customer service representative. This is the equivalent of selling add-ons in retail sales.
Let’s go back to Amazon. They happen to be excelling in this area as well. They offer customers related merchandise during checkout, as well as on every product page. This not only makes it easier for the customer to find related items if desired, but it also increases the likelihood of cross-selling or upselling, which puts more money in Amazon’s pocket.
Naftali Inc. is a top provider of wholesale mobile accessories and travel accessories. Naftali Inc. products can be found at national retailers such as Target, Verizon Wireless, TJ MAxx, and more. To see wholesale pricing of our premier travel and cell phone accessories, sign up here.