RETAIL

When selling retail products the key is to buy different products in small quantities. This way you give your clients a variety of items to choose from. Some things will sell faster than others but this is OK.

Pros of selling Retail

• Number one thing is customer satisfaction face to face. You are able to see your customer’s reaction to the products, price, condition etc… These reactions will help you determine if there is anything you want to change or make better in your store.
• Since no two clients are the same they will not like the same things. Buying small quantities and having lots of items to choose from is great because if they don’t want one item they will be sure to like another. Customers like having choices and options to choose from.
• These types of business can be started with a small amount of capital. Since everything here is bought by product than you will know exactly how much things will cost. Once you pass your budget you can stop but you will still have lots of products to sell.
• Immediate cash, you sell something and get paid rite away and your customer receives what they need rite away; it’s a win win situation.
• You can sell products depending on the time of year. For example rite now you go to any store and they will have costumes, Halloween decorations and some of them even have Christmas trees.

Cons of selling Retail

• A retail business can be started with a small amount of capital but a REASONABLE small amount. You will win depending on your investment.
• If you don’t study carefully what products you will be buying and to what audiences you will be selling than there is a slight possibility that not all you products will sell.
• Retail business require an actual store and place to sell, they also included schedules that let your customers know from what time to what time you will definitely be there.

WHOLESALE

Wholesale is the opposite of retail it starts out with a small range of products but in large quantities.  Wholesale may included having less customers but the benefit is that the customers you do have will buy a lot more than a retail customer.

Pros of Selling Wholesale

• Make profits much faster by selling in larger quantities.
• Calculating the price of an item bought wholesale will be much cheaper than that same item bought retail.
• Products available whenever the customer needs them. Only until the very end will you run out of a product.
• If you give goof prices you will gain loyal customers that will go back to you and keep going back to you every time they need that product.
• Like retail stores you can sell products depending on the time of year and at a much affordable price. For example in rite now you go to any store and they will have costumes, Halloween decorations and some of them even have Christmas trees.

Cons of Selling Wholesale

• You must be sure of the products you will be selling. They have to be the latest, most wanted items if not there is a chance that they will rarely get bought.
• You need to constantly be on the lookout for new products and deals.
• You have to have a minimum amount order. People are not free to buy as much as they want or spend as much as they want. In order for a wholesaler to have the prices they have need to sell a minimum amount of the product to get some benefit from it.

If you cant attend this time maybe you would like to go next month and visit other great and interesting trade shows. Take a look at upcoming trade shows for next months.

Make sure to enjoy the trade shows you have chosen and know where you are going. If you are not sure try using  Google Maps for directions.

CRM software can make this entire process more efficient and prompt a Wholesaler to focus on the customer at all stages. CRM software can increase service levels and generate growth in a Wholesale company.

When selecting CRM software the Wholesaler should look for particular features and abilities. A good place to start is selecting a program that automates the entire customer lifecycle from a cold or hot lead, to a qualified prospect, to the customer ordering product, and to follow-up on existing customers. A key feature to look for is an automated up-sell and cross-sell functionality. This would increase your chances of keeping your customers for many years by offering them add-on products and services.

Seek a CRM software program that can provide a single view of all customer data and customer interactions to those in your company who need to see that information. A salesperson can benefit from this greatly as he or she does not have to go to one area to look for a sales history and then another area to see the payment history.

A Wholesaler must have a program that has an integrated order management system. An effective system is one that allows salespeople to take orders from customers in an efficient manner without delaying them with useless commands or fields. This integration should also allow the salesperson to see a full purchase history of all customers.

Ultimately you should look for a Customer Relationship Management software program that has the ability to integrate your e-mail and web marketing. If you want your Wholesale business to also be an E-commerce business, it is vital that your web site is included in the selling process and that all customer interactions are monitored on the Web.

A “Killer” inventory management application lets you ship orders to your customers more efficiently by organizing your warehouse using tools to track the exact location of items in stock. Employees will be able to pick and fulfill orders faster when they know exactly where to go for the items they need.
A “Killer” inventory management application can maximize profit margin, a key to the success of Wholesalers and Distributors.

A “Killer” inventory management application provides intelligent control over inventory replacement, helping ensure that you have enough on hand to fill anticipated orders, but keep excess stock to a minimum.

A “Killer” application has multi-currency capabilities that let you set prices in each of the foreign currencies in which you may trade as a Wholesaler. If you create orders or invoices for your foreign customers, you want that application to automatically select the correct currency and price, saving you valuable time.

Finally, an integral element in a “Killer” application is the capability for inventory management features to be integrated with customer relationship management (CRM) features. As a result, your customers, sales representatives and partners can view updated inventory levels on your Web store. Success in the warehouse can lead to success on the Web.

1. Make a list of your major audiences.
2. Gather information about you products and audiences.
3. List characteristics about your product and audiences

1.MAKE A LIST OF YOUR MAJOR AUDIENCES
Let’s say you want to start a Wholesale / Retail Toy Store so first make a list of you major audiences. Think about the people that want to buy you product, and the people that want to buy your product to give to others. When you think of toys you think of children and who would want to give these toys to those kids.

1. Children
2. Moms
3. Dads
4. Grandparents
5. Teenagers
6. And so on…

2.GATHER INFORMATION ABOUT YOUR PRODUCTS AND AUDIENCES

Ok, now that we know what audience we want to target we star gathering information about our products and our Audiences.

PRODUCT: AUDIENCE:

This information will help us determine what exactly it is we want to sell and what we need to have in stock. Some things are bought more in some colors than others; this depends on the audience’s age, local weather, likes, dislikes and many other factors.

3.LIST CHARACTERISTICS ABOUT YOU PRODUCT AND AUDIENCES

As you can see the characteristics between the product and the audience can be similar. This is good because this means that the product will be bought by the client. Your product and what you have in stock is actually what clients are looking for. I hope this will help you with in your wholesale / retail business. Remember that the client is ALWAYS RITE!! Make them happy, sell products that people are actually looking for. There are many things to take into consideration when defining your audience and your products these three are just some of the key factors.

The Wholesale Distributor must not lose sight of what is important to business — the customer. In today’s economy, like in every economic downturn, the purchasing power of the consumer is always at stake. Once the consumer has decided to scale back on spending, the trickle down process begins. If the retailer’s existing inventory moves slowly out the door, he will resist adding onto that inventory. And at that point the wholesale distributor can anticipate the inevitable decline in orders.

The wholesaler must be a good resource for his customers from day one of the business relationship. But during the harshest of economic times, it is crucial that the wholesale supplier be a trusted resource for the buyer. The wholesaler must make it much easier for the buyer to act in a way that meets his own business needs. Fewer and smaller orders may be the harsh reality during an economic recession. This reality must be accepted to move on during these trying times. The recession has affected all industries. The wholesale distribution industry represents about 7% of U.S. GDP. This is an important industry and it is vital that you as a wholesaler maintain your business to assist in an economic recovery. The terrible economic news can be overwhelming, but keep your customer base happy during and after an economic storm. Refuse to be a victim of an unforgiving economy. Wholesalers must be survivors.

Make sure to enjoy the trade shows you have chosen and  know where you are going try Google Maps for directions.

-Entertainment items: Everyone now a days wants to have the latest technology, the latest iPod or other things like this. Companies that produce MP3, MP4, MP5, DVDs and other entertainment products will often offer wholesalers a good price when buying a large amount of merchandise. Entertainment wholesale products are all ways enjoyed because people will always want to be entertained. These types of wholesale products can be easily offered and sold.

-Personal care products: Today you can get practically any personal care product at a good wholesale price. These wholesale products sell well because they are bare necessity and because they are used on a daily bases. These wholesale products can include toothbrushes, cosmetics, apparel, shampoos, and practically anything that can be used for your body.

-Collectibles: From house decorations, figurines, knick knacks, clocks, etc…there are all sorts of things that people collect year by year. Collectibles may be hard to find. It all depends on how unique or antique they are.

As we see these things are all sold in the retail world. Everyday different wholesalers are starting there own business with these three main types of products. Now all you have to do is decide what  wholesale products you want to start selling.

The wholesale handbags industry is a very competitive market to get into. This is the best way to get designer handbags at reasonable prices. Many wholesale handbags stores offer designer handbags from Prada, Gucci, Fendi, Burberry and much more. These wholesale stores offer you these handbags at decent prices and this is what moves the wholesale handbags industry.
Unfortunately it is not easy to find a real handbags wholesale web site. These are the two top scams you might get fooled with when looking for and buying handbags.

Wholesale Handbags

1)THE FAKE WHOLESALER

The fake wholesaler is the person the posts up in wholesale handbags blogs, posts, pretending they have real merchandise and that they are real wholesalers. Turns out they send you an email with all the merchandise they “have”.  When really they don’t have any of it, these people just send you pictures of handbags you can find over the internet and a phony list.

Once you have seen the list and picture of the merchandise they “supposedly” have they ask you to pay and send the money by check, money order or other methods that are NOT TRACEABLE OR REVERSIBLE.

A few weeks later you’re wondering what happen to your handbag and your money. Worst of all you can’t do anything about it so be careful and make sure you know who you are buying your handbags from.

2)A FAKE  WHOLESALE LIST

If you have not noticed there are “wholesale handbags list” going around. What people are doing is going into Google and typing in the word “wholesale handbags” and taking the first 50 results and making up a random list. These “wholesale handbags list” go anywhere from $2.00 to $9.99 and are made to help people find real handbag wholesalers.
If you were looking for wholesale handbags I am sure you have all ready Goggled it up and I am sure you have seen these results. So why would you pay for something you have all ready looked at? These “wholesale handbags list” are not any good. They are just simple results people put down all in one list. So next time be careful and investigate where exactly it is you are going to buy your wholesale handbags from.