Shopify is the top platform which enables you to set up and run not only regular e-commerce business but also wholesale orders. In this article, we will discover how you can set up a wholesale Shopify business and the matters you must pay attention to during this process.
Four ways to set up wholesale business on Shopify
Shopify app for wholesale business
You can encounter a wide range of Shopify apps offering wholesale features to your current Shopify store. They differ in the built-in functionalities and versatility, but the highly recommended apps are Wholesale & Custom Pricing, Wholesale – All in one and Wholesale Club. To make the best choice of wholesale app, you should compile an outline of your wholesale store’s functionalities and evaluate which app will fit your requirement best.
Second storefront for wholesale business
If you are not using the Shopify Plus plan but offering a huge volume of wholesale products, you should set up an additional storefront for wholesale. A new storefront will showcase the wholesale items with a special discount and sale rate applied only for wholesale customers. You can convert items from a Shopify store when setting up a second storefront. This saves you from having to manually import all of your items into the Shopify wholesale store.
Passwords can be inserted from Shopify admin in order that you can offer a special price to the wholesale customers.
Create password protection to offer discount price to retailers
If you run a larger wholesale business and are worried about your passwords being passed to unapproved retailers, you may want to consider a more complex password protection application. like Locksmith.
Coupon code for bulk purchase
Discount codes are probably the most common method for selling wholesale through Shopify. You can simply give your retailers a discount code and allow them to apply when making purchases of certain quantities. Interestingly, you can differ the discount percentage for specific customers and products to ensure that the price is appropriate. However, this method might cause price consciousness since you do not illustrate the wholesale price and the wholesale customers must calculate the bulk price on their own.
Regular issues on building wholesale business on Shopify
For most public stores, the terms of payment are simple: payment is due upon checkout, by PayPal or by credit card. Some retailers might accept payment at checkout, however, there are some that prefer Net 15 or Net 30. This means instead of pay at checkout, they pay after 15 or 30 days - usually by direct deposit, wire transfer, or some other "offline" form. In this case, depending on the customers, you can apply different solutions. The famous customers or cooperated retailers can enjoy Net 30 while the others must pay at check-out.
Make sure that there will be no unpleasant extra cost rather than product price and the price to retailers must be lower than the regular customers. But the wholesale price is very tight and competitive, different consumers get different discounts. For example, gold customers receive a 50% discount on the retail price, while silver customers receive only 40% off the retail price.
Set up a minimum order of certain quantities or amounts for wholesale goods. For example, retailers must purchase at least $500 or 30 items if they wish to have a wholesale price.
If your customers are satisfied with the products, they will return to your store. Rather than requesting the customers to search and calculate again for similar items, you can create an inventory page like an order form to facilitate the re-order process.
Last words, wholesale will be a beautiful way to jump-start and expand your e-commerce store. With Shopify, the wholesale order process will be simplified and utilized for the highest profit margin.