- What is the wholesale business?
- The benefits of a wholesale business
- Aliexpress vs. Nihaojewelry
- Conclusion
Almost everyone in this era has shopped online, making eCommerce the most popular business model.
The sector has gained popularity due to the increased accessibility to internet services and the availability of mobile phones which make transactions quick and flexible.
The increase in popularity of eCommerce has led to most stores shifting their services online to catch up with the growing demand for online services leading to increased business transactions throughout the world.
Various online retail stores have come up to offer a platform for various businesses to sell their products and offer the ease of connecting suppliers to the customers.
What is the wholesale business?
The wholesale business is one where goods are bought in bulk and sold to a retailer usually at discounted prices.
The goods are bought directly from manufacturers and suppliers and stored in a warehouse where they are later distributed to various retailers.
A wholesaler can source for trendy goods to sell which ensures that the retailer gets up to date products and the chances of making sales are higher for the wholesaler.
When starting a wholesale business, there are several factors to consider:
Identify a product niche
This will enable you to easily manage your business to ensure that you make sales.
Having a niche product is also important as you are able to narrow down on a wide array of choices so that you have an easy time setting up your business.
Identify suppliers for your products
Suppliers are critical in any product delivery service. A good supplier should be one that is reliable and offers quality products and services to enable your business to grow.
Identify your target market
Since the wholesale business generally involves the sale of goods to retailers, you will need to identify your target market and find ways to market your products to them.
Determine your competition
Identifying your competition is important as you will find new ways to do business that will ensure that you set yourself apart.
Customers will always want something better than they are being offered and so they will be inclined to search for something different and better.
Set up your online market
Since most businesses have moved online, establishing an online presence will enable your customers to easily access your service.
Find a good physical location for your warehouse
Because the wholesale business involves buying goods in bulk; you will need a store where you will keep your items.
Ensure the warehouse is in a convenient location for easy access and a safe area.
Get updated and easy to use inventory software
Having inventory software will facilitate the easy tracking of items and orders to enable you to run your business smoothly.
Automate some of your services
Ensure that the business runs efficiently and you save on costs of operation.
Have an efficient payment policy
Allow you to track your sales and have a return on your initial investment. This will enable you to run your operation smoothly and even facilitate expansion.
The benefits of a wholesale business
If done correctly the wholesaling business is among the lucrative businesses you can do to earn profits and supplement your income.
To ensure that you benefit from the business, ensure that you have researched the best practices you can use to set you apart and earn your profits.
Some of the benefits of the wholesaling business include:
- The business provides customers and retailers with easy access to products by serving as an intermediary between the manufacturer and retailer.
- Wholesaling provides access to a wide market as you can reach a wide geographical area to find customers.
- Provides the retailers with access to the right quantity of goods for resale.
- The wholesaling business is cost-effective as it reduces the number of producer contacts needed.
- Wholesalers provide ready access to goods which enables a business to run smoothly.
Aliexpress vs. Nihaojewelry
Aliexpress
Aliexpress is an online retail service that was founded in 2010 in China. The company is an affiliate of the Alibaba group and it provides a market for small businesses across China and other locations by giving them a platform to offer products to international buyers.
The company started as a business-business portal but has since expanded to business –consumer and consumer-consumer models.
To facilitate easy customer experiences around the world, the service is translated into several languages with English being the generally used language for the service.
Aliexpress also offers programs such as affiliate marketing and dropshipping to enable you to efficiently conduct your business.
Nihaojewelry
Nihaojewelry is a professional supplier for fashion jewelry and accessories across the world.
The company manufactures its products ensuring that the products produced are of superior quality and affordable pricing.
Because the company manufactures its products, it serves as an ODM and OEM for various jewelry retailers.
The company offers one-stop shopping experiences to various buyers reducing the cost of doing business by ensuring that you source all of your products from the same source.
Comparison between Nihaojewelry and Aliexpress
Nihaojewelry is a leading supplier of fashion jewelry and accessories in the world.
With over 100,000 products in their production and a wide selection of jewelry items to choose from, Nihaojewelry is a one-stop-shop for all your jewelry items.
Some of the advantages of Nihaojewelry include:
- The company manufactures its products hence acts as an OEM and ODM for various jewelry brands. Due to this reason, the sourcing product from the company allows buyers to easily brand their products to ensure they have their own identity.
- The goods produced are made with the highest craftsmanship to ensure the quality of the products. This is efficient for a business as you can sell products that are of high quality which builds trust among the customers.
- Nihaojewelry offers a convenient shopping experience by ensuring that the website is updated regularly with the best- selling and trendy jewelry items. The company facilitates easy and safe payment options to allow buyers to easily buy products.
- All the jewelry that is produced at Nihaojewelry goes through a strict quality control process to ensure that only the best items are available in the market.
- Nihaojewelry offers fast and safe delivery options by teaming up with DHL which is considered to be among the best delivery service in the world to ensure that your goods will reach you on time.
- The company offers convenient customer service by offering live chat services and to enable you to get prompt assistance should you need it. The customer care representatives will also efficiently answer your questions via email.
- Since the jewelry pieces are manufactured at the company, the prices set for the products are affordable to enable you to easily purchase any amount of orders without having to worry about overspending.
Aliexpress is an online shopping platform that connects a variety of buyers and sellers of different products around the world.
The platform has some advantages too which include:
- Low prices on some of the products with huge discounts on some of the best –selling items.
- Offers some form of buyer protection by refunding your payment if the item that has been delivered is late by 60 days or not the same as that which you had initially purchased.
- The company offers secure online payments.
Some of the cons of using Aliexpress are:
- Long arrival time for most products.
- The use of different sellers makes it difficult to filter out some scrupulous sellers.
- Some sellers don’t accept some payment options making it difficult to transact.
Conclusion
The online platform is among the most competitive market of this age. Since most suppliers are moving their operations online, finding a reliable supplier for your product is the one factor to consider before setting up your business to ensure its success.
