Wholesale is one of the hidden secrets or gems of having a successful and profitable product business. Selling Wholesale should not be underestimated. Nearly every big brand in the world sells Wholesale.
IMO it is still very much misunderstood and is a missed opportunity for many brands. So let’s discuss more.
You don’t know what you don’t know right. After over 20 years in Wholesale there are just things you can’t google. These 5 are on my list.
The Slow Build of Wholesale Success
One of the first myths I love to debunk is the idea that wholesale is a quick and easy path to sales. It’s quite the contrary. Wholesale, much like a snowball rolling down a hill, requires patience and persistence. The initial push might seem small and insignificant, but with time and effort, it can lead to an avalanche of success. This slow build is something every product-based business must be prepared for, and it’s a journey that can be incredibly rewarding.
Valuing Every Stockist
In the wholesale game, every stockist is a golden opportunity. It’s easy to get caught up in the numbers, but I urge businesses to look beyond the initial order size. Whether it’s a $300 order or a $5,000 order, the key is to nurture these relationships. Treating every stockist as a valuable customer not only opens the door to larger orders in the future but also establishes a foundation of trust and partnership that is priceless in the long run.
Breaking the Rules for Stronger Relationships
Occasionally, breaking the rules for your stockists can be a game-changer. Showing flexibility and a willingness to accommodate their unique needs sets you apart in the wholesale market. This doesn’t mean compromising your business values, but rather demonstrating that you’re invested in the success of your stockists as much as your own. It’s about building stronger, more resilient relationships that can weather the ups and downs of the industry.
Embracing an Abundance Mindset
A scarcity mindset can be the Achilles’ heel for many businesses. I advocate for an abundance mindset, especially when it comes to wholesale. There are so many potential stores out there for you. There is also a harmonious balance that can be struck between wholesale and direct-to-consumer sales. They don’t have to be at odds; in fact, they can complement each other and expand your reach. By embracing this perspective, you open up a world of possibilities for your business to thrive. Ensure you keep communication open between you and your stockists and also consider them when running DTC sales.
The Art of Communication and Follow-Up
Proactive communication and follow-up with your stockists are non-negotiable for ensuring reorders and maintaining sales momentum. Drawing from my own experiences as a retail buyer and wholesaler, I can’t stress enough the impact that effective communication has. It’s about support, it’s about being present, and it’s about showing that you’re as invested in their success as they are in your products. Don’t feel as though you are annoying you stockists by servicing them (in a way they like to be communicated with). Squeaky wheel does get the oil.
Join the Journey to Wholesale Mastery
To further support your wholesale journey, I’ve put together a special webinar on wholesale essentials. It’s designed to equip you with the knowledge and strategies you need to excel in this space. This is just one of the many ways I’m committed to helping your business flourish.
Conclusion: Your Wholesale Blueprint
The insights and advice shared in our podcast episode are more than just tips—they’re the blueprint for your success in the wholesale market. Whether you’re a retailer, a brand, or a creative in the fashion, homewares, and design industries, understanding these principles can transform your approach and lead to lasting, profitable relationships with your stockists. Join me on this adventure, and let’s turn your creative passion into a thriving business together.
Want more tips on How to Wholesale? Grab my free guide that explores the 10 must have tips you need to succeed.
Ready to dive straight into the nitty gritty of Wholesale and building an ongoing consistent revenue from Wholesale? Check out my Transform Your Wholesale program here.
The beginning (00:00:04) Introduction to the podcast and its purpose.
Understanding wholesale (00:01:02) Insights into the slow build of wholesale, treating stockists as valuable customers, and the long-term sales strategy.
Treating stockists as valuable customers (00:01:55) Emphasizing the importance of treating stockists as high-value customers and viewing success from that perspective.
Breaking the rules occasionally (00:03:04) Advising to have terms in place but being open to occasionally breaking the rules to provide exceptional service.
Abundance mindset (00:04:11) Encouraging an abundance mindset and promoting the idea that there are enough customers for everyone.
Follow-up and communication with stockists (00:07:19) Highlighting the importance of regular communication and follow-up with stockists to encourage reordering.
Assisting stockists in selling more (00:11:24) Providing tips on how to promote stockists, provide new content, and help them merchandise to increase sales.
Summarizing wholesale insights (00:12:22) A recap of the wholesale tips and tricks discussed in the episode.
Conclusion and upcoming webinar (00:14:16) Closing remarks, mentioning an upcoming webinar on wholesale essentials, and expressing excitement about sharing more insights.
Final gratitude and call to action (00:15:07) Expressing gratitude for listening, encouraging subscriptions and reviews, and directing listeners to the website for show notes and links.
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