How can discount retail stores benefit from buying wholesale?
First off, you might want to start by checking out our great blog post on wholesale vs retail to understand the difference between the two.
The most obvious benefit of buying wholesale, such as wholesale stock clearance or pound shop lines, is that you are able to acquire products at a lower price. You can then sell them onto consumers from your own shop at a higher price allowing you, the retailer, to make a good profit. Plus, as a retailer you don’t have to hold a large amount of stock. This is great as you can simply order your top-selling products from wholesalers, ones you know are going to sell fast, instead of having lots of stock lying around your storage space. Having the option to buy small quantities also helps you to save money as your risk is lowered.
Immediate availability of wholesale products? Yes please. This is a great pro of buying wholesale from suppliers- unlike with drop shippers who don’t have the physical stock on their person, once you order off a wholesaler such as Rysons (a leading UK wholesale supplier) the process of packing your orders and shipping them to you can start instantly.
Another really great benefit of buying wholesale is the vast amount of different products available on the market for you to sell. Wholesale products can encompass anything, from kitchen items to garden, health & beauty to electrical and even clothing! There is no shortage of different areas and customer bases your discount retail store is able to branch out into. With so much variety your business can be ever expanding, which links to this next bit…
It is not impossible to establish your own brand, but it is more time consuming and costs more, which is why being able to buy brands that your customers have already established trust with and are fond of is a great plus to buying wholesale. Half the job is already done for you, you just have to simply price and advertise the product to get the sale!
Also… the wholesaler you are going to buy off has (hopefully) already done in depth research into their market and are up to date on all the latest trends and innovations in the industry.
Lower shipping & handling costs is another well known benefit of buying wholesale. What does this mean exactly? Well, it means more savings on money as you’re buying items in bulk and also means saving on the time waiting for your orders to arrive. Sounds great doesn't it?
Why don't you check out another one of our blogs that explains further the fantastic benefits of being a Rysons trade customer?
At Rysons, we’re here to help answer any more questions and ease any other worries you may have regarding buying wholesale. Our team is on hand to answer your calls at +44 (0) 161 387 7214.
