Sourcing your products or services from a direct supplier will make you score big in your business. Getting raw materials at wholesale prices is one of the best cost-savers known to man. You get access to exclusive prices at bulk orders which makes you provide more competitive prices as you produce your products or services. Instead of sourcing your raw materials from a middleman supplier, you can switch to working with a direct supplier who will provide you with offers that will make you ace the game.
Choosing a platform for suppliers, especially online, can be difficult. You’re puzzled with questions about trust, credibility, reliability, and such. The digital procurement world hasn’t been on the side of green pastures in the Philippines. However, one of the most important things you should be aware of is – Shoppable. It’s precisely what you need as a supplier company. It offers everything, tools, and features alike! We can dive into it more deeply in this article.
Table of Contents
What is a Wholesale Supplier?
Operating a Wholesale Business Online
The Top 7 Tips You Should Know
How You Can Make Your Business Better
The Bottomline
What is a Wholesale Supplier?
A wholesale supplier offers goods or services directly to companies or organizations. The prices of goods or services in their listing are lesser than retail value. Supplier companies work directly with manufacturers, where they get their goods from. Through this process, procurement for companies becomes easier because suppliers offer products or services at a cheaper price. However, at wholesale prices, companies are expected to purchase goods or services in large quantities. Compared to retail, where you can purchase goods or services individually, wholesale suppliers only offer their products in bulk.
So, are wholesale suppliers the same as manufacturers? The answer is no. Wholesale suppliers are not the same as manufacturers. The role of wholesale suppliers is to distribute the end products produced by the manufacturers. Wholesale suppliers purchase goods from the manufacturing company in bulk at a cheaper price and pass these products to companies. The transaction is formed through a straight line where the start ledge features the manufacturers, followed by the wholesale supplier, then the companies purchasing at wholesale.
Operating a Wholesale Business Online
Working on a wholesale supplier business online isn’t that easy. However, it’s also not as strenuous as working on scouting for clients physically. Wholesale providers experience the most logistics concerns, as their clients involve small to large-scale companies who source products or services from their wholesale business. Since there’s also a new upspring of innovation brought by technology, companies can now work on their businesses online. Buyers and sellers alike have transitioned to working on their respective projects and personal matters on the internet through different platforms. And speaking of platforms, there are countless platforms a supplier company such as yourself can choose from. There are social media, media-sharing platforms, service-oriented platforms, and eCommerce.
So, as you operate your business online, you must learn to adapt to the continuous changes in the digital world. Some of these changes include the trends that affect online selling, marketing, online advertisements, collaborations, and the like. Considering that the wholesale supplier industry is a gigantic one – specifically, one of the largest industries in the market, wholesale suppliers make up a significant revenue.
While there are different suppliers for different types of industries, there’s no denying that each one has a critical role in making businesses run smoothly. Companies in all sorts of industries, namely food and beverage, medical, electronic, appliances, clothing, and construction, all source from wholesale suppliers. Hence, a wholesale business is also a determinant of a company’s success. The fundamental role that suppliers play in the development of a company is high volume, as the prices that suppliers offer will also dictate the increase or decrease in the price that a company will offer for the cost of their products or services.
Wholesalers as partners
We’ve already established that wholesale suppliers are integral in the development of a company. Their influence offers a significant change in pricing and the quality of goods, which is why choosing a wholesale supplier as a partner takes effort. Determining how well you can work with your supplier partner will secure how your production will go, from each delivery to how your products or services will turn out. So, reaching common ground with your supplier regarding the raw materials you will be purchasing and the technical agreements you are required to accomplish will need your close attention. You will have to look into how much you can purchase raw materials in bulk and how much of the desired quantities you can achieve. You will also have to consider the delivery options and transaction process that you will engage with regularly as you work with your wholesale supplier.
As a result, if you are a supplier company, you must learn all the technical aspects of business that may or may not affect your transactions with the client companies you work with. To make matters easier, physical transactions take a lot of effort, time, and resources from our hands; we can consider working on our business entirely online. Of course, we won’t take our warehouse and turn it into a digital version of what it is, but for talks of transactions and communicating with our client company partners, we can work on all of these online.
If you’re still clueless about how you can work on your wholesale supplier business online, then here’s an exclusive for you. In the earlier part of this article, we discussed the eCommerce platform that makes digital procurement possible. That platform is called Shoppable! Working with Shoppable gives you access to countless tools like seller analytics, an e-wallet, your very own marketing page, your advertising perks, and countless other features. You can even communicate directly with your client companies online. Shoppable also offers an exclusive for its sellers, as buyers use the platform to scout for the resources they need. So this means buyers from across the globe can use the platform to purchase goods or services from companies like yourself. You can imagine the influx of orders you will receive from clients across the Philippines and internationally. And one of the best things yet is you wouldn’t have to worry about getting scammed or experiencing fraud online since Shoppable ensures the safety of its buyers and sellers. The platform is encrypted and built with state-of-the-art security protection.
Here’s why you should join Shoppable…
- It’s FREE – It’s free to start selling on the Shoppable platform. As long as you’re a legally registered business, you’ll be able to list products for free on Shoppable. You only pay a commission if an item sells on the platform, and you get paid.
- Expand your Customer base – Through Shoppable, you’ll reach thousands of new customers for free. Think of Shoppable as your marketing arm that you only pay when you have a sale.
- Get your eCommerce Store – Increase sales by digitalizing your product catalog and reaching customers worldwide. Print catalogs are dying, costly, and not environment friendly – digital is the future. Sellers can get their eCommerce store on Shoppable Business that can be given to any client.
- Procurement Technology – Enable your customers to pay you online through Bank Transfers, Credit Cards, Over-the-Counter Payments, Recurring Payments, and more. Easily track and manage orders, payments, and shipping through the Shoppable platform.
- Shipping Technology – Shoppable has integrated directly with multiple shipping couriers, enabling you to provide same-day to next-day delivery to your customers.
- Compliance – Sales invoices and 2307’s required? Don’t worry; Shoppable has got you covered! The platform keeps sellers fully compliant, never worrying about missing documents.
- 3PL & Fulfillment Services – Need additional manpower? Shoppable can provide you with warehousing and fulfillment solutions so you can expand your brand to different locations enabling you to get products delivered faster to your customers.
- Real Sellers, Real Buyers, and Real Products only – We vet and interview sellers that join the platform, so you will be assured that all of the products and transactions are authentic and legitimate.
The Top 7 Tips You Should Know
People are getting good at online shopping and connecting through online platforms like social media. Think about it; people connect online, schools are online too, and to give you the numbers, about 7.26 billion people use their mobile phones daily. The given number, 7.26 billion people – makes up 91.54% of the world’s population. If that ain’t big enough, then what else is? Looking at the numbers, you might ask yourself why you haven’t expanded to the eCommerce world yet – because you should. Do yourself and your business a favor and operate your business online by joining an eCommerce platform – make it Shoppable because it’s specifically designed for digital procurement.
- You will earn more money by operating your business online.
A study by eConsultancy found that there is a higher relative ordering process online compared to physical ordering. It shared that companies and individuals alike would spend more time on eCommerce platforms longer than they would in physical stores. It can be derived from this observation that individuals and companies are more likely to spend when they are presented with a platform online than when they are presented with a physical store that they would have to visit and travel around to.
Online, customers may also browse through a company’s entire catalog, making them more likely to purchase items altogether. Unlike physical stores where companies or individuals are looking for an item when they have found the item they have been looking for, they proceed to checkout. On eCommerce platforms, companies and individuals alike may be encouraged to purchase more items even to the point of checkout.
In addition, on eCommerce platforms – such as Shoppable, supplier companies like yours may include advertisements or other marketing materials to be published online. All of these will contribute to the performance of your listings and the other items your client companies have in their cart. To your loyal customers, you can also give them exclusive discounts or vouchers, which they can use for bundles or other perks they will enjoy. This will encourage them to return to your store and become fully-fledged loyal customers.
- You can reach your customers better online.
Never underestimate the power of technology. One of the most influential technologies in the 21st century is Genome editing, an innovation created by Emmanuelle Charpentier and Jennifer Doudna – two women, driving innovation to the next level. Their invention has helped modify gene functions and develop solutions to treat genetically acquired diseases – a magnificent breakthrough for the medical world and the world itself.
Now going back to business, you may think that eCommerce is just commerce alone, but digitized. You must never think of eCommerce as a platform that is the transformed version of physical stores. Platforms like Shoppable are economy shapers, market movers, and entrepreneurs’ motivators. To let you know, the eCommerce industry, one of the youngest in the world, has already built a market size valued at 9.09 trillion dollars. The current eCommerce value is expected to grow at a compound annual growth rate of 14.7% through the years.
So, before you share how unreasonable the eCommerce industry is, crunch the numbers and then decide. The eCommerce industry is the fastest growing industry in the world; indeed, you can’t wait to be a part of it. Connecting with your clients is as fast as a second; you can reach them wherever you are. You can reach countless more clients through the help of eCommerce platforms like Shoppable. Plus, Shoppable’s signup is free, so what else are you waiting for? Are you waiting for your competitors to beat you to it? Don’t let opportunities slip away, and jump into the digital boat of eCommerce, where your network of professionals is.
- You can create a more well-designed catalog online.
Instead of continuously polluting the environment by creating catalogs that cut down trees, you can switch to creating your catalogs online. One of the benefits that you gain from creating your catalogs is that you can design your catalog more creatively. As you digitize them, you can share them with your clients or prospective customers more efficiently. You wouldn’t need to look for a printer and print a thousand copies, no. You also won’t have to source nor spend on the costs of having these catalogs sent out to your customers; you can send them with one click of a button.
- You will inevitably save time and money.
Included in this sum of savings are your resources and the effort you will exert to accomplish tasks. As you create a new channel for your orders and transactions, you’ll begin to feel the ease of operations. You will no longer have to cater to your customers one by one since the built-in payment channel will be in charge of that. You also wouldn’t have to worry about logistics as the partner couriers will be the party assigned in that area. Everything on your eCommerce business page will have a stream of smooth-flowing processes.
From the moment your client enters your eCommerce page to the point they create an order and to the point they receive their orders from you, you will be able to manage all transactions through one platform. No more worrying about where your shipment went and how it is going. You don’t have to fret about receiving terrible feedback, too, because you’re more confident that each step of the transaction is created seamlessly. Operating your business online will help you and your team allocate more time and resources to other activities that will help your business grow. You can leave the client-gathering, order transactions, and shipment to the Shoppable platform.
- You can stay more connected with your team.
One of the bold things about technology is how it can connect people, wherever they are in the globe and whatever timezone they are in. Unlike the conventional method of communicating with people on the phone, the digitalization of media has brought about a newly sprung outlet where individuals can stay connected. Social media and platforms like Shoppable allow individuals to work together.
- You’ll have access to real-time inventory.
You’d be happy to know that you no longer have to count your inventory of goods one by one, unlike before. You no longer have to worry about whether or not your goods are still enough for an upcoming order. One of the benefits that you gain from operating your business online is that you can access your inventory in real time. This way, you can inform your customers when your next shipment arrives and when you can arrange their next big order.
Access to your inventory in real-time will also help your business organization. Your logistics will also have a more effortless flow compared to the situation it will face if it is still in the traditional setup. Make the wise decision to work on your business online so you can access your inventory in real time. This is hugely important as you don’t want to miss out on things like the number of goods you have or what you can offer your customers next.
- You have transparent work progress.
Since you’ll be working on your wholesale supplier business online, you will have access to all the tools and features that will help you work more proactively. From the number of your stocks to the amount generated from your earnings, you will be able to see how well your business is performing quickly. You can also use the seller analytics feature on the platform, which you can share with your team members or business partners. This will help you generate your reports more quickly and effectively as compared to working on your reports manually. You can skip the hassle and move directly to the results you will be working on with your team.
On the note of your buyers, they, too, will feel how transparent you are as a business. Each receipt from an order will be sent to the buyer as they proceed with each checkout. This is one of the characteristics your customers will love because it presents how well you operate your business and how much you can be trusted as a wholesale supplier. Operating your business online will make you see eye-to-eye with your customers, creating a better atmosphere for growth and continued partnership.
How You Can Make Your Business Better
There are plenty of ways you can explore to make your business better. Aside from joining eCommerce platforms like Shoppable, you can also work on the specifics of your business needs. These specifics are the areas in which your business needs the most improvement. To create a better business, you must determine which areas you need to focus on. You can do so by requesting feedback from your customers or learning about these areas of improvement from your reviews. It pays to look at the things you need to work on, as this will help you grow even more.
- Product-specific offerings
This might seem like stating the obvious, but sometimes the minor things we care not to spend some time on are the ones that need most of our attention. Our product offerings as sellers must be in line with the ongoing trends in the market. Analyze how well you are performing against your competitors and see to it that you offer the best deal for your customers.
Part of improving your business is creating your catalog intelligently. Place the items you want most purchases on at the top of your catalog since these are the first things your customers will see. Of course, you can’t place everything on top as you’ll just end up with a straight line. You should consider placing the items that you just launched or the items that are bundled together.
Providing a clear layout of your products to your customers will help their decision-making process run better. Giving your customers access to products will encourage them to purchase these products you have laid out. To provide you with an idea, restaurants include their best-sellers on their menu with a special marking; it could be a start or a rating. You can also do the same with your products and tag them accordingly. Get creative!
- Shipping Concerns
There’s nothing more important to customers than receiving their orders. If they had the power to check out an order and have these items delivered to their office or doorstep in 5 minutes, they would do so. This is how vital shipping is for customers. One of the things you need to watch out for is shipment delays. Luckily on Shoppable, there’s such a thing called order fulfillment; this process helps guarantee speedy delivery of your customer’s orders in a timely manner.
You don’t want to experience client losses just because you experienced a shipment delay. You want to obtain the best results through each transaction despite all the disturbances that may come your way. As you monitor the shipping of your customers’ orders, you must also keep in mind to secure the tracking number and shipping details for each order. On the Shoppable platform, all of these are already built into the system for each order. You don’t have to work on this manually and hunt for papers. This way, when your customers ask you what their tracking number is, you have a clear-cut answer to their question.
- Customer service
There’s nothing like excellent customer service. Customer service plays an essential role in providing customers with a happy experience. When customers reach out to your brand, it is the people in your customer service who will be the front lines of the question and answer portion. For example, when a client company complains about dented packaging, it is your customer service’s job to respond to their queries and concerns. How your customer service is built will reflect how well you engage with your customers.
On Shoppable, there’s a live-chat portion that allows you to communicate with your customers in real time. You don’t have to wait for hours or jot down their email address to contact them one by one. You just have to click the chat option, and you’re good to go! The live-chat portion on Shoppable is another convenient tool that will help you get closer to your customers, especially when you’re addressing concerns about your products or answering questions about your listings. It’s also best to delegate a team who will specifically manage the customer service system of your brand.
The Bottomline
Ultimately, it is crucial to address the small factors that affect your business. As a business owner, your brand is affected by small things like customer service, shipping, and catalog design. All these factors are made easier to work on with technology. In the wholesale supplier world, you are faced with countless competitors, each working their way to gain more sales than you. Don’t let them beat you at your own game! Work on your business through a plan that works effectively.
As mentioned before, join Shoppable – the Philippines’ first digital procurement eCommerce platform that offers all the tools and features you need as a wholesale supplier. Forge your relationship with your customers better by working with them seamlessly. Don’t miss the opportunity to be part of the largest and fastest-growing industry in the world – eCommerce. Join the Shoppable team now! Contact [email protected] and begin!
