Wholesale is the process of buying certain goods or products in large quantities from manufacturers. Then, the goods will be sold in small units to retailers or directly to consumers. In the digital era, there are already many online wholesalers known as eCommerce wholesale - read this.
Because they buy in bulk, the entrepreneur or wholesaler usually gets a lower price from the manufacturer. The profit they get comes from the difference between the purchase price and the selling price of an item.
The greatness of wholesale entrepreneurs or so-called wholesalers is that they are good at analyzing consumer needs. So, even if they buy goods in large quantities, in the end, these goods will generally still be sold out.
The goods or products targeted by wholesalers are usually trending or very much needed by the community. Thus, being sensitive to trends is one of the abilities that wholesalers must possess. The goal is to ensure that the purchases they make can meet consumer needs.
Examples of goods that are most targeted by eCommerce wholesalers are consumer goods produced by large companies that produce basic goods and daily necessities. People as consumers will definitely buy it because now the time it takes to buy directly at the store is sometimes longer and there are more discounts on eCommerce.
In addition, this business does not require the process of producing and packaging goods. This is because it is the manufacturers who create the products, and the retailers who will repackage them for resale.
Currently, wholesale is seen as one of the tricks or business strategies to be reckoned with. Especially with the proliferation of online stalls (e-commerce). This strategy is still relevant to be practiced in the digital era as it is today. This is often done by those who do not want to be bothered with managing business affairs with parties such as distributors.