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Activity Forums Q & A On trade shows and pivoting from online retail to wholesale

  • On trade shows and pivoting from online retail to wholesale

    updated 1 week, 6 days ago 0 Member · 1 Post
  • Christine

    Member
    October 30, 2019 at 8:32 am

    I run an online business, selling products that I have manufactured for me, which I import. I’m wondering if I could (or if I should) make a move to being a wholesaler of the products I’m having manufactured for me. The thing is, I’m not great at amazon, and that’s where most of my sales come from. I’ve had some hits, I’ve had some misses, but no home runs. However, I’ve got the whole “importing of custom manufactured products” down. I figure that there are a lot of brick and mortar shops who are stymied by this, and their best source for product is a wholesaler or distributor. Heck, there are some online sellers who fit this description, too. So, we get to the trade show. In my city, there’s a gift trade show, it happens in a few months. the customer base is largely gift shop owners- like trading posts, tourist traps. I’ve gone there as a buyer. It’s a smaller trade show, you can walk the whole thing in a morning. I’ve asked about prices, and it’s about $1500 for a booth. I honestly expected like $500, but I’ve never asked about trade show pricing before, so what do I know. This price does include table, chairs, and some printed promotional material.. but since I’m local, furniture isn’t an issue, and I can print stuff myself. The add-ons would be enticing if I was traveling. I have ten jewelry skus, and some misc. I was thinking of showing only jewelry at this show, as I think it’s the best fit. I’ve seen a lot of jewelry vendors there, so it seems to be the right product for the event. I don’t have a huge inventory, I would either have to order a lot of product ahead of the show, or tell customers that there’s a 6 week wait for large orders. So, on to the question portion! What kind of markup should I shoot for? I hear 15% is a good number. Is that true? I’m sure that retailers are price-conscious, I know I am. Does it seem like a good idea for me to try selling at wholesale, or am I fooling myself? Should I have a larger catalog before I do this kind of thing? I could bring examples of what I currently sell, and print up a catalog of other items that my production partners are capable of supplying, so I could potentially have a large catalog. Am I even asking all of the right questions? Is there something I’m missing entirely? – by hq overview BL_SH – –

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