Getting high quality products on low discounted rates makes you the best retailer. Now the question is that how would you find out which wholesale product is more lucrative? Is it the low price that attracts you? Or the high quality of products? Or is it the reputation of the supplier?
There are certain factors that influence wholesale buying decisions. According to a recent survey, price is the major factor that influences the buying decision of retailers. The other factors is company s reputation, trust in brand, management recommendation, prior relationship with supplier, colleague recommendation, information on company website, trade show demonstration and in last prior relationship with salesmen.
All these factors are interlinked and jointly influence the buying decision of retailer. If the price of any particular wholesaler suits you then the next thing you will consider is the company s reputation; if the company reputation is not good then you will surly leave the deal and will select the wholesalers or distributors with sound reputation. Next is the trust in brand; it is in the psyche of a businessman that feels safer while dealing in popular brands or product. So it is good to deal with wholesale company which has good stocks of popular branded items.
You will also not buy a product if your prior relationship with the wholesale supplier is not good. On other hand, if you are dealing for the first time and your colleague shows ambiguities and does not recommend the particular wholesaler then again you will hesitate to deal with that wholesaler. So it is strongly recommended that the retailers should coordinate with each other more and share their experiences to help each other.
Information about the company on their website is also important; because you, as an experienced retailer, will instantly categorize the company of low quality if the information is incomplete or inappropriate. If you are a veteran retailer then for sure you must have attended most of the trade shows in your area about your particular niche.
If you find a new wholesaler to deal with and remembered that he did not demonstrating his products and services in a correct manner in any trade show then you will perhaps not want to buy from him. Such attitude of the wholesale suppliers depicts his maturity level. In the last, it would be wise of the retailers to consider all these factors while sourcing products for themselves.