By gaining an additional share of the market for your wholesale
business you will be able to increase revenues and eliminate
competition. The wholesale business is saturated with merchandise
from established suppliers and jobbers who have come across a good
closeout deal. The following tips can enable you to expand the size
of the share of the market which you currently serve.
Identify which segment of the wholesale business is poised to grow.
For instance, if you see that a new chain of children's clothing
stores is opening, you would want to focus on the children's
clothing market, since the new retail entrant is a sign of the
growing demand for kid's wear. The same is true when you see a new
product hitting stores shelves, since it proves that there is a
demand for that new product. Identify the trend and position
yourself so that you can supply wholesale and closeout products
that match this growing segment.
You might discover that there is a demand for wholesale Timberland
kids boots in one area, or a strong interest in
wholesale Disney girls clothing in an additional market.
All your communications, both online and offline, should be used as
a tool to market your closeout products. Everything from bill
payments, catalogue mailings, and emails, should include a mention
of your inventory.
If you use YouTube to promote your store, make sure
that you mention the types of brands that you
carry, whether they are very recognizable
labels such as Ralph Lauren or boutique labels
such as Michael Gray.
Become a source of information for the wholesale trade. You can
achieve this by writing articles and publishing an online
newsletter featuring information that would be of interest to
distributors and retailers. The more practical and insightful
information that you share, the more your information will be read
and referenced. This strategy works well since a buyer would prefer
to deal with a vendor that is seen as an authority in the field.
If you are an expert on the market for wholesale Coach handbags
you might consider writing an article or producing
a video showcasing your knowledge about this
Ask for referrals from resellers that purchase from you. While they
might not want to give you the contact details of a competitor,
because they wouldn't want you to supply them, they will share with
you the names and phone numbers of any relatives or friends who are
also looking for wholesale merchandise to resell.
If a boutique owner in San Fernando, Trinidad, just purchased
a lot of Nike boys shorts from you, ask her if
she knows of any other retailers in Trinidad
that you would be interested in purchasing
from you as well.
The boutique owner might have a relative or
friend that has a store in Port of Spain.
The same can be true for retailers
located throughout the world.