What is Wholesale online store (aka eCommerce)?
Wholesale online store is a business-to-business (B2B) eCommerce approach in which you sell your products online in bulk and at a discount to other businesses rather than selling them individually to consumers.
You serve as an intermediary between the producer and the distributor or retailer in the supply chain.
Furthermore, because we’re talking about Australian wholesale eCommerce, there’s an aspect of online buying and selling – something that’s still relatively new in the B2B business model but is rapidly developing.
Even for more basic operations, the B2B sales process previously relied heavily on salespeople cultivating long-term relationships with clients. The rise of eCommerce, on the other hand, has altered the status quo, bringing numerous benefits to wholesale enterprises who opt to transfer their sales online.
Automate manual processes
Selling goods with an eCommerce platform allows you to automate time-consuming manual operations. Checkout, billing, and inventory management may all be done with applications rather than by hand with the correct platform.
Employees can focus on other aspects of the company, including digital marketing or customer support. Furthermore, sales personnel can devote more time to larger, more sophisticated accounts rather than order processing for bulk purchases that can be handled quickly using a self-service approach on the business website using their wholesale online store facility.
Reach more customers
Physical location isn’t a constraint for Australian wholesale online store enterprises. Their website, social media, and marketplaces allow them to contact customers all over the world.
Your customers will have more opportunities to find you as they travel between devices and channels thanks to this omnichannel experience.
Additionally, if you’re trying to grow into new areas and reach a previously untapped consumer base without investing in a physical presence, selling wholesale online is a terrific way to build brand awareness.
Get insights and data
When you have a website, you may collect more granular client data and insights, such as which pages and goods are most popular each day, week, and month.
- The number of people that clicked on a certain coupon.
- The average time spent on a website.
- The percentage of users who jumped from the site against those who stayed on it.
This information can help you with marketing campaigns, product mix, pricing, and discounts, among other things. You may acquire a deeper knowledge of your client’s demands by combining feedback from salespeople and customer service.
Improve customer service
Not only does eCommerce allow you to provide self-service portals to your customers, but it also allows you to personalize their experience. Customers may go into your site and order the things they desire without having to speak to a salesperson for example, thanks to personalised catalogues and price lists.
Provide projected shipping costs, product recommendations, and advanced estimates that may be reviewed and authorized by numerous stakeholders for enhanced convenience.
Sell through mobile devices
Australian wholesale customers are constantly on the move. Many people do not spend much time in front of a computer, whether it is a desktop or a laptop. Instead, people use their mobile devices to look up product information while on the road or on the job.
They can investigate choices and make purchases immediately from their mobile phones thanks to eCommerce.
How to Prepare for Building a Wholesale Online Store
Before you start developing a wholesale eCommerce site, make sure you have a few things in place. Here are some actions you may take to get your wholesale company ready to go online.
Create your project needs
It’s critical to distinguish between what you desire and what you need before launching a wholesale online store.
- Examine your competitors.
Who are your competitors when you search for your items on Google or Amazon? You’ll see who you’re up against in the search results. What do you have to offer that your search competitors don’t?
- Choose which items you want to sell.
What products do you think you should start with on your website? What are your plans for expanding that product line? Begin with products with a big profit margin.
- Decide on how you’ll make payments.
Which payment processor are you going to use? What credit cards will be accepted on your website? Will customers be allowed to make credit payments? It will be easier to create your wholesale brand’s eCommerce site in a way that supports your payment options if you know the answers to these questions today.
Identify potential barriers
Whatever industry you’re in, there’s bound to be at least one stumbling block. These could include the following:
- Regulations: What, if any, government regulations apply to purchasing items from your store? Is it possible, for example, to transport things from your online store to every state?
- Order total unknown: Some online stores use a method that calculates the shipping fee after the user completes the checkout process, leaving the customer unaware of the entire cost of the item.
- Creating an account: A customer may create an account, but they will not be able to place an order until the account has been approved internally.
Some of these obstacles are more significant than others, but it’s important to recognise them ahead of time so you can devise a strategy to avoid them.
Clarify eCommerce platform goals
Determine what your eCommerce site will provide that no one else does. It’s also an excellent opportunity to set some precise objectives, such as:
- What revenue targets do you have in mind?
- Would you like to shorten the sales cycle?
- Do you wish to increase the speed with which your orders are fulfilled?
The answers to these questions will assist you in setting priorities for your wholesale platform objectives.
Select your eCommerce software
There are a lot of platforms out there, so be sure the one you choose matches your needs for Australian wholesale orders. Take advantage of this time to learn everything you can about your alternatives. Try out a demonstration. Inquire about the company’s customer service.
Plan to devote a significant amount of time to this stage. A crucial business decision is selecting the best wholesale eCommerce platform.
More and more wholesale companies are moving their operations online to keep up with the constant growth of online access demands. To be competitive in this space, you will need to develop more tailored experiences to differentiate yourself from the competition, along with proper eCommerce platform and other digital tools e.g. social media to help your wholesale business or brand get online.