Optimising Wholesale for the Future: How to make the most of the many opportunities wholesale can bring.July 17, 2023 18846 min reading Corporate Uncategorized
THREE years after the Covid-19 pandemic hit, and the fashion industry is still recovering from a storm of challenges.
Demand volatility, logistics jams, rising costs means, as never before, the supply chain has been thrust to the top of executives’ agendas.
Hikes in shipping costs are a leading concern for sourcing executives. Raw-material prices are surging too, and further price increases are expected.
According to a major report out last year, 50% of companies have started a huge transformation to achieve greater speed and flexibility.
All businesses are searching for a sourcing model that is flexible, fast, sustainable, digitally enhanced, and which delivers on the needs of consumers and customers.
However despite the challenges, huge opportunities still exist for forward thinking companies who can put plans in place.
These challenges mean wholesalers in the industry need to work harder than ever to create business models which attract – and keep – clients.
Here Whispering Smith’s Account Manager Clare Harris explains the measures we are adopting to help Optimise Wholesale For The Future both for our business – and for our valued clients.
Clare says: “There are a number of measures we’ve taken at Whispering Smith in this area. We offer a 1:2:1 buyer experience and act as a personal shopper to some businesses that rely on this, and we provide full market analysis and research on trends via our buying and sales teams.
“This helps take the pressure off the buyer to a certain extent, as most of our styles are tried and tested and we repeat into core shapes and can share our industry knowledge.
“We also offer small cartons volumes and you’re able to purchase small quantities. This is vital as it allows our customers to dip into trends and find their place in the market. It means they can find that sweet spot for their business without having to commit to large volumes direct from factories.
“Flexibility is key too. Some buyers expect convenience and a brand experience throughout their purchasing process and we allow this through our B2B site. On there you can find a digital offering of our ranges live and in stock and a glimpse of future drops too providing convenience for re-orders or replenishment. You get to browse at your own leisure, tailoring the styles down with searches and select styles you want and then plan your drops as and when they come in.
“Being size Inclusive is important as well. We have tweaked our core size range after listening to our customers, and the market.
“We’ve adapted the ratios in the cartons so that you get more of the sizes you need, helping you to trade better and quicker. Buy now, pay later credit options are also available. This allows customers to free up their cash and as we deliver to your door, when you want it, customers get a chance to get the sale ahead of the spend.”
The author of this article is Anna Marianna White