VS1 Cloud Blog
Wholesale business - or B2B business - isn’t discussed very much because it doesn’t deal directly with consumers. Because of this, wholesale businesses aren’t given much importance. But the reality is, these companies are the backbone of the retail industry. This type of business model involves two businesses trading directly with each other - typically, it’s a retailer and wholesaler. In recent years, wholesale eCommerce has grown in line with B2C online retail. In 2019, the market value of B2B retail was six times that of B2C retail and was valued at $12.2 trillion.
Because of their huge market value, online wholesale businesses are now looking for the same ease of doing business that B2C retailers have. That includes an easy process for ordering and fulfillment.
What is Wholesale eCommerce?
Simply, this is when a business uses online platforms and websites to purchase goods from suppliers at a wholesale price. These platforms offer access to a variety of potential business partners. If you’re a retail business owner that feels your wholesaler or supplier is no longer meeting your needs, these platforms can help you find different suppliers who are more in line with your requirements. Similarly, these platforms can also be useful if you’re looking to diversify your product line.
The cheapest wholesalers and manufacturers are in the Asian and South Asian markets. By using online wholesale platforms, you can access these suppliers with ease. You can easily search for suppliers that have what you need and negotiate prices and shipping processes that work for you. If you’re a manufacturer or assemble your products using different imported parts, then these platforms can be very useful for you. Having more options will not only allow you to offer better quality products, but could help you improve your profit margins, too.
Why Wholesalers Need eCommerce
Wholesalers are usually physically located in markets that are not easy to reach. For example, if you’re a small business located in the US and the suppliers you need are located in China, how are you going to access those wholesalers? The answer, of course, is online wholesale platforms which can help you reach thousands of distributors across the world. These platforms will allow you to find the suppliers you need, negotiate a price you can work with, and get the items you require for your business - all with a few clicks of the mouse.
10 Benefits of eCommerce Applications in Wholesale
Increase in customers because of higher outreach
Brand is established faster
Wholesalers can collect data from prospective customers
Evaluate possible competitors
Make B2B more affordable by eliminating unnecessary costs
Increases opportunities for promotion
Allows you to have direct customer contact
Mobile commerce accessibility
Consistent 24-hour accessibility
eCommerce Applications in Wholesale
What Are The Top Wholesale eCommerce Features?
There are certain qualities that eCommerce platforms should have to be the best option for wholesale businesses. Luckily the evolution and uptake of eCommerce means platforms are getting better to use. Wholesalers and retailers expect the useability and access that consumer-facing businesses have. These are a few things to look for when trying to find a good wholesale platform:
Simple Design: The platform’s layout should be simple and easy to navigate. Businesses are more concerned with functionality than design, so too many flashy elements just get in the way.
Multiple Budget Options: Different businesses will have different purchasing budgets, so wholesalers need to offer flexible, customized rates. Therefore, wholesale platforms should offer the ability to set different rates.
Varied Catalogs: It’s important that businesses are able to find what they need, which is why platforms should offer a catalog with a wide variety of products. This way, potential customers will always find what they need.
Easy Re-ordering: As a wholesaler, you want your buyers to keep coming back to order from you. One way to ensure this is to make re-orders a breeze - your buyers should be able to repeat their orders with just a few clicks.
Mobile-enabled: You don’t want to lose customers just because they couldn’t easily place their order during a busy period. By ensuring that your customers can place their orders through their mobile - whether it’s through a dedicated app or mobile-friendly website - you’ll ensure you’re always ready to win more sales.
Barcode Scanning: Because wholesale orders usually feature large quantities that are often repeated, barcode scanning makes things a lot easier. This time-saving feature allows customers to place their orders quickly and wholesalers to respond equally fast.
Full Shopping Cart Experience: The platform or app should offer a complete shopping cart facility where customers can review, modify, and confirm their orders. This way, they can solve a number of issues before making a purchase or reaching out to customer service.