Whether in traditional trade or e-commerce, there are several models… One of them: is wholesale shopping for retail stores. This is one of the most widely used marketing methods in the world.
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Indeed, buying more makes it possible to take advantage of attractive prices, which will serve to generate a free margin or show more competitive prices than its main competitors.
Here is a guide so you too can buy wholesale, surrounding yourself with trusted friends.
What is bulk buying?
If you want to sell and make a living from this activity, the goal is to buy the product at a low price so that you can sell it at a high price. This is called a trading margin.
However, the seller’s responsibility is not limited to this. It’s also about finding good products to sell and knowing where to buy them and how to promote them.
Bulk shopping: what?
The wholesale jewelry shopping is a different business model from retail shopping. Of course, wholesale purchases are made from the seller or from the manufacturer of the product.
As the name of the event suggests, it involves buying goods in large quantities, in order to take advantage of promotions and reduced purchase prices. You can then call the Logistician for the delivery section or store your products yourself to deliver them to the final customer.
Therefore, since your purchase price is lower, your sales margin is systematically higher.
The transaction fee is based on the difference between the purchase price and the sale price. This is the profit the seller makes when selling the product. Logically, the lower the purchase price, the higher the profit.
Also, since each business is free to set its own selling prices as it sees fit, a lower purchase price can also allow you to display more competitive prices.
How much is the purchase method?
Buying in bulk requires good preparation. This is not fun that you jump headfirst, overnight. To buy more, you will need:
- Prepare all your regulatory and tax documents: in many countries, including France, it is mandatory to have a tax number or license to be able to buy and sell products. So it is important to choose your professional status and to inform yourself about all legal questions related to your work;
- Set the amount you want to put in your purchase: when it comes to wholesale, volume is important. The more you buy, the more attractive the purchase price. However, you also need to know how to set them up and find the right balance, so that you don’t end up with unsold stock;
- Finding the right seller: online, with local artisans, with other manufacturers, etc. There are many types of sellers and surrounding yourself with a good one is important for the success of the sales job;
- Work as a team: having a network is important to enrich your list of contacts and win better contracts;
- Start with samples: even if it means losing a small amount of money for your first order, start by trying a few products before ordering more. Many retailers allow you to purchase samples at discounted prices. This is to first check the quality of the goods, but also to see if the product is being sold;
- Discuss: taking advantage of the high cost of buying is an important basis for doing business. Don’t be afraid to ask for small favors and take the time to negotiate. After several orders, your dealer will be more willing to give you more discounts;
- Think about shipping: in your calculations, don’t forget to include shipping. This is an additional fee that will affect your margin.
Advantages of Bulk Shopping
As you can imagine: if bulk shopping is popular, it is because it offers many benefits to the e-seller:
Discounted prices: buying large volumes allows you to benefit from attractive prices. This is to benefit from economies of scale and therefore lower unit costs. Buying in bulk is therefore the key to getting better deals on sales;
Better stock control: buying in bulk, allows a large number of products to be delivered at once. It also means that you will have fewer orders to place and your purchases will be less. In terms of logistics, it’s very easy! It is also a good way to not run out of stock.
It is an opportunity to organize your products for delivery: by having a stock of your products available, you will have more time to organize them before you send them to your customers.
This is another way to stand out, for example by adding a surprise in each of your packages. Likewise, by having your own stock, you will have time to check the quality of your goods before each shipment.
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