For wholesale businesses maximizing profits during the holidays is all about attracting as many retail buyers as possible—and then having the means to actually fill them.
Here’s 7 ways to get retailers begging to stock their shelves with your products:
When you’re pitching your holiday product line to potential buyers, you’re going to want to put your best selling products forward.
This doesn’t include products that you would like customers to purchase.
Your holiday product line should be made of products that you know customers will purchase. Products that you know other retailers have been showing interest in.
Pay close attention to what your customers and your buyers are feeling and saying, and remove any product from your catalogue that is not showing promise.
Too much variety can be off putting to customers and potential buyers alike – especially during the holidays.
Retail businesses need to have a clear idea as to what your company can add to their shelves, both product-wise and stylistically.
Too much variety in this regard can confuse retailers as to the main niche your wholesale company can fill with your products.
Limit the selection in your catalogue to products that share a common theme and/or purpose, and streamline your message to your buyers to make it clear how your wholesale company will make customers happy in ways that others cannot!
That’s not to say you should be inventing a whole nother product for your collection.
You could, but for most, it’s way too late to get into expanding your product line already.
However, throwing a different coat of paint on one of your best selling products and calling it a “2018 Holiday Limited Edition” can go a long way.
Rename it. Paint it red and green. Put a holiday angle on your product line, and watch the amount of retailers interested in your product multiply.
It’s not about expanding your product line. It’s about drilling some holiday-only exclusivity into the minds of retailers and their customers.
Even if you have to fake it.
Your retail buyers will want to feel as though selling for the holidays is the main focus of your business every year during this season.
Get a graphic designer to put some holiday fun into your catalogue. Add some holiday terminology into the copy of your package. Throw a Santa Claus on the home page of your website.
It’s not about fooling retail buyers – they’ve seen everything already. It’s about showing the importance of maximizing specifically holiday profits is to your business, because for the vast majority of retail and wholesale businesses alike, the holidays are the single most profitable couple months of every year.
So show them you mean business, and put some jingle bell borders around your product descriptions.
The whole point of retailers reaching out to more wholesale businesses during the holidays is to answer these two questions:
“What do my customers expect me to have that I haven’t stocked my shelves with already?”
And, “What can I get, that my customers don’t even know they want yet?”
A wholesale company’s job during the holidays is to provide the answer by clearly explaining what niches they fill that retail businesses haven’t covered yet.
Wholesalers with the message of “I think you’ll sell a lot of gloves this year because it’s cold out” is extremely off-putting.
Suggest that you think these products would make for a good “holiday sale” product.
Tell them how your company’s gloves to make for a great addition to the products they already have, and/or how consumers will be surprised and delighted to see your specific gloves while in their store, etc.
Great- so now you have retail businesses begging for your business left and right.
But do you have the cash-flow to get all the workers, materials, inventory you need to succeed?
Without months of preparation and strategizing, the truth is you’re probably not ready. Thanks to new advancements in business financing, you no longer have to be – but the earlier you start, the more profits you’ll receive.
Read on to learn how to handle 10X the usual amount of orders you’re used to, and show new retail buyers your wholesale business has what it takes to become a holiday juggernaut.
These days, most wholesale businesses use accounts receivable lines of credit (AR financing) during the holidays to turn their accounts receivables into cash.
This allows them to get all the workers, materials, supplies and inventory they need to fill any and all orders, without disrupting the cash-flow of their business.
One of the most popular features of AR credit lines is that your retail buyers are not told that you are using them, protecting your company name and reputation.
With a credit line that’s “revolving,” your wholesale company can withdraw any amount of capital from your line of capital at a time. You can then replace it later if you like, adding it back into your credit line, where it becomes available to draw from again.
Use this type of financing to handle the dramatic increase of retail orders faster this holiday season, and prepare you with the funding to take on any new opportunity, and squash any challenge before it hurts your holiday earning potential.
If you’re ready to start preparing for the huge demand for your business’s holiday product line this year, give us a call at (877) 482-3008, or apply by filling out our 1-minute application online.
Our Business Financing Advisors know what it takes to make this holiday season the brightest and most profitable yet!
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
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Matt Carrigan is the Content Writer at National Business Capital & Services. He loves spending every day creating content to educate business owners across every industry about business growth strategies, and how they can access the funding they need!