Imagine if you could focus your efforts more on product design and innovation, beautifying your brand, or streamlining processes instead of searching for customers and worrying about sales.
What is wholesale in business?
Wholesale is the process of selling products in bulk to other retailers, usually at a discounted price, who then sell the product to their customers at a higher price. It’s important to note that creating a B2B sector for your online business still allows you to sell your product to the end consumer.
Understanding wholesale
As a wholesaler, you can sell products to consumers and retailers. You don’t have to choose one over the other.
What wholesale goods are available for sale?
There are many wholesale goods available for sale as online B2B businesses. Whether you’re a professional or a beginner, you can expand your product offerings using the following ideas:
Educational materials
There is a large annual market for educational materials. In the United States alone, there were over 56.5 million enrolled students and more than four million employed teachers in 2022.
Home décor
According to Statista, global home improvement sales reached around $830 billion in 2022. By 2027, this amount is expected to exceed one trillion dollars. Home décor is a strong market for wholesale businesses.
Clothing and accessories
Whether it’s clothing for work, everyday wear, or special occasions, everyone needs to wear something. That’s why the fashion industry is a large and continuously growing market.
Food
Every human on this planet needs food and will continue to need it throughout their lives. Therefore, this category is clear for wholesale, as the demand will always be present.
Wallets and handbags
The global handbag market was valued at $38.5 billion in 2022.
Kitchenware
The kitchenware market is expected to reach $17.3 billion globally by 2023.
Health and wellness
The health and wellness industry is projected to generate over $7 trillion annually by 2025.
Pet supplies
Households in the United States spend an average of $703 on each pet annually.
Party supplies
The party planning market was valued at $4 billion in 2022.
How to start an online wholesale business
Decide what wholesale goods you want to sell, set a wholesale pricing strategy, create a B2B eCommerce website, accept payments for wholesale orders, and sell your wholesale products.
Is wholesale business profitable?
The benefits of wholesale come from lower costs due to bulk purchasing and streamlined logistics from large quantities, as well as the opportunity to focus on B2B relationships instead of consumer relationships.
Start selling B2B with Shopify today
With the rise of eCommerce, direct-to-consumer brands have started emerging faster and growing digitally. As a result, many have overlooked wholesale as a fading business trend. However, a new wave of wholesale startups is thriving in the eCommerce era by rethinking how wholesale operates.
With the right pricing strategy and a little knowledge, you can begin opening your business to partnerships that generate new revenue and see your product thrive among complementary brands.
Are you ready to start your business? Begin your free Shopify trial – no credit card required.
Frequently Asked Questions about wholesale business
What are some benefits of wholesale selling?
What types of businesses can be sold wholesale?
What is the difference between wholesale and retail selling?
Source: https://www.shopify.com/guides/make-your-first-ecommerce-sale/selling-wholesale
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