If you’re looking to build your inventory and expand your wholesale offerings, you may be considering bulk wholesale merchandise as an option. While this type of inventory does offer an opportunity to save money, there are other factors that you should consider when deciding whether or not this option will work for you.
This guide will give you ten wholesale merchandise ideas that come in bulk, so you can decide if this option is the right one for your business.
1) When your customers purchase in large quantities, they save money.
When your customers purchase in large quantities, they save money. As a retailer, it’s essential to make your customers aware of how they can reduce their costs by buying more significant amounts of products at once. Give them tips on bulk wholesale merchandise and teach them how to maximize their savings.
2) Giving away free samples can be an effective way to convert customers.
Free samples are an excellent way to entice new customers and convert old ones. One of our favorite bulk wholesale merchandise ideas is to offer free samples of your products to grocery stores and other retailers that carry similar products. Contact local stores and discuss how you can help them convert more shoppers into regular customers by providing them with easy, affordable samples of your wares. If they like what they see, they may want to start carrying your product in their shops!
3) Try high-impact signage as an alternative marketing strategy.
In-store advertising and traditional marketing techniques can be expensive and time-consuming, but they’re also significant. They tell your audience who you are, what you do, why you do it—and when to visit your store or website. One low-cost alternative is high-impact signage that communicates these messages stylishly that catches attention. At no cost or investment of time or resources, it will draw customers into your business instead of your competitors.
4) Work with other businesses in your community to co-host events.
While wholesale shopping is an excellent way to pick up products in bulk, it can get boring pretty quickly—and most retail shops offer their brand of merchandise. When you think wholesale, you probably imagine warehouses filled with pallets of canned goods and boxes of cheap, plastic-wrapped products. Working with other businesses in your community to co-host events for wholesale merchandise is an excellent way to develop relationships with other local companies and broaden your retail opportunities.
5) Start an email list for joint promotions and special offers.
Start an email list for joint promotions and special offers for wholesale merchandise, and offer to send one every month or so. You can incentivize potential customers to sign up by offering a free gift with their first purchase of $25 or more. One simple way to keep your subscribers on board is by sharing fun facts about your niche market and industry in regular newsletters. If you’re selling toys wholesale, have a story about why you love toys.
6) Create contests with prizes, exclusive access, or discounts that encourage participation.
Create contests with prizes, exclusive access, or discounts that encourage participation for wholesale merchandise that are only available to your Facebook fans and Twitter followers. You can also create a loyalty program for your fans; offer specific special deals or free gifts when customers show their loyalty. Take advantage of all channels available to you. Think about hosting online games on your website; run promotions through text messages and social media sites like Twitter and Facebook; or send emails about upcoming sales.
7) Provide financing options to reduce upfront costs.
Many wholesalers require a retailer to pay for merchandise in advance, which can be prohibitively expensive for new retailers with limited capital. Provide financing options to enable your retailers to spread out their payments and reduce upfront costs. Not only will they buy more products, but they’ll also have an easier time budgeting their cash flow month-to-month.
8) Share photos on social media during product fulfillment.
Share photos on social media during product fulfillment for wholesale merchandise. These can be pictures of your product as it’s packed up and delivered to retailers around town or even just photos of new and exciting merchandise that you receive regularly.
9) Offer financing through partnerships with financial institutions.
Many wholesale merchandise suppliers work with financial institutions to provide financing to their customers. This is an excellent way for a retailer or other business owner to get the funding for inventory, and it can be a good option for those who don’t have ready access to bank loans. Consider establishing partnerships with credit unions, community banks, or online lenders; these partnerships can make it easier for your business to finance purchases through bulk wholesale merchandise suppliers.
10) Utilize UPCs on printed materials, such as business cards and brochures, to capture customer information at the point of sale or check out.
Make sure your printed materials, including business cards and brochures, have UPCs printed on them. Many retailers use these codes to enter shopper information at the point of sale or check out. This allows you to follow up with customers who may have been interested in a product without having that information readily available. You can also buy a good printer and label maker with UPCs specifically to print your barcodes on the packaging or hang tags.