Your store sells directly to individual customers online, but you're ready to take things to the next level and begin to wholesale your products to other businesses. Trade pricing will give these businesses the opportunity to purchase directly from your website, but at a rate lower than your retail price.
Website World makes B2C and B2B selling simple due to the multiple trade pricing options we provide on our eCommerce platform. We're going to detail what these options are, along with the benefits each can provide for your business.
Trade pricing is the same as wholesale pricing. It is the cost of goods or materials are sold to another business at a price lower than what the general public would pay. Generally it is expected that in order to obtain trade pricing, the purchasing business should be buying large quantities of products which they will then resell for a profit at your recommended retail price.
In terms of setting trade or wholesale pricing, the goal is to sell the product at a higher price than it cost to make, earning a profit. Also selling at trade price only or a combination of trade and retail prices is a realistic plan. The articles How to Set Wholesale Pricing for Handmade Products and How to Price Your Products are both good resources to refer to for further information.
The Website World platform enables businesses to use multiple pricing options and sell to a variety of customers online. These include:
When you have the ability to tailor your pricing to specific audiences, your business is better positioned to attract a larger range of customers, including B2C. Allocating pricing to member only ensures that your wholesale prices remain confidential and unknown by the general public and those customers of your reseller's too. Your business can also sell your products to a wider audience by using resellers to promote and sell them for you. This in turn can increase the success of your business.
The types of wholesale or trade pricing you choose to provide on your website will be related to your business' goals, plans and strategies. To view how to use trade pricing on your website, please read our comprehensive online help tutorials.
Posted: Wednesday 11 August 2021