Perhaps you’ve got a solid store estate. Perhaps selling direct to the consumer hasn’t quite worked out the way you thought it might. Perhaps you’ve been approached by other retailers who want to sell your brand and it’s now got you thinking about opening up a wholesale branch of the business. Whatever your reasons, wholesale can be a great option for retailers, especially those who are feeling the pinch on their store estate as products tend to sell in higher volumes, growing your cash flow. But how do you set up wholesale? And what’s the best way to do it online?
Wholesale: where to start?
Firstly, when you open up a wholesale channel, you now sell to two different customers: retailers and consumers. They’re two very different types of approaches and will have different expectations when it comes to pricing (retailers will have the recommended retail price in mind, but will be ultimately thinking about their own margins, too) and also of the experience you offer them. For example, if you decide to host a sale in-store and on your website, but don’t notify your wholesale partners, they might be rightly miffed. However, one thing they will both want from you is correct – and detailed – product information, including fabric information, washing guidelines and a detailed description of what it is that they are both buying. Using PIM software helps to keep this in one place no matter where the end user is connecting with it, simplifying the product content management process and eliminating the possibility of incorrect product information from entering the retail chain.
Communication is Key
One of the benefits of wholesale is that you are tapping into another customer base; other retailers then have a duty to help market your products to their audience to increase sales by shouting about them to their own customers.
Whilst this might seem like a step back from having control over what messages are being relayed to consumers about your products, this process can be handled to optimum effect by instead controlling what product information is being shared. Making sure that a product is fully optimised with keywords, a detailed description and with many high-res photos and videos will help your retail partners to successfully spread the word. Of course, this can also be efficiently handled by use of a PIM solution.
That all sounds great… but how do I set it up?
Through using our PIM solution, all product information can be added to the central system; then, with its in-built connections, product information is shared out to wholesale channels and to wider digital marketplaces. As a cloud-based solution, there’s no need to fret about maintaining software or servers and you can run your business from anywhere in the world, as long as there’s a decent internet connection.
The good news is that OMIO PIM’s in-built connectors means that all of your product data can be pushed out, making this set-up process even easier.