Wholesale trade is changing quickly, as fast as you think. It’s not a general statement, but it’s supported by stats that global B2B e-commerce will hit $36 trillion by 2026. These numbers are an example of how businesses are moving from traditional B2B businesses to online wholesale marketplaces.
Traditionally, wholesalers arrange meetings in person, trading with a small circle of people, and use printed catalogues. But now with e-commerce, businesses now can enjoy several benefits, including reaching different customers at a global level.
Rather than using printed catalogues, they can use digital catalogues and can provide a platform to vendors and suppliers like thokmandee.
It is an online B2B wholesale marketplace that supports SME’s (small and medium enterprises) in Europe.
Let’s discuss in this blog what the problems are with traditional wholesale trade. How thokmandee is transforming traditional wholesale, what unique selling points they are giving, in which regions they are serving, and what’s the future of wholesale with technology.
The Problem with Traditional Wholesale Trade
Wholesale trade has long been the backbone of economy and retail industry. But it has some issues that put the businesses at a slow pace.
Let’s discuss at once what those issues are:
1. Manual Processes
Typically, individuals order by phone calls or by going to each shop. Paper bills were involved. Of course, this process consumes time and causes numerous errors.
2. Restricted Reach
Suppliers and customers are typically limited to local networks, which makes it more difficult to discover and extend new opportunities.
3. Inadequate Security & Transparency
A lot of companies are still having difficulties in terms of security and transparency within the conventional wholesale system, such as delayed delivery, ambiguous prices and risk of payment.
So, retailers and suppliers are more concerned about these issues in traditional wholesale trade and are looking for better ways. This is the point where wholesale 2.0 comes in.
Enter the World of Wholesale 2.0
The alternative and new method of expanding reach to a worldwide audience, reducing manual procedures, and increasing security or transparency is adopting the idea of wholesale 2.0.
It speeds up the process of buying & selling and makes it trustworthy and easier.
Businesses can now link via digital channels instead of relying on phone calls and in-person meetings.
This is how adopting advanced technology will assist in B2B wholesale trade.
- Merchants and suppliers are able to source products and customers worldwide, and not from a limited circle.
- They are also able to make quicker transactions with secure payments and instant online ordering.
- Lastly, they are able to benefit from more equitable prices with quick product comparison and transparent prices.
You see how adopting advanced technology can shorten distances, lower costs, and save time in the B2B wholesale trade. Let’s discuss an example of a wholesale business ‘thokmandee’ that took the opportunity and evolved itself with the passage of time.
thokmandee’s Role in Wholesale 2.0
thokmandee left the traditional way of B2B wholesale trade by adopting technology to offer a smarter means of trading.
Following are the distinctive selling points that both wholesale sellers and buyers can take advantage of.
Sales Support
They help suppliers reach more buyers and provide retailers with the required sales support to grow their business.
EU-Wide Logistics
thokmandee helps retailers by providing reliable delivery and distribution throughout Europe. This helps businesses to grow without having to concern themselves with shipping.
GDPR Compliant
They are in complete compliance with EU data protection regulations and make sure that business and customer data is always secure.
Competitive Pricing
They provide honest and reasonable prices so retailers can increase margins and suppliers can remain competitive.
Flexible Credit Options
They offer simple and safe payment methods, such as credit terms, to make buying and selling easier for both of them.
They offer buyers a maximum of 90 days to pay back their payment to thokmandee and settle vendors on behalf of that customer. So that both can comfortably operate their cash flow processes.
Their main goal is to help small businesses within the EU with a digital marketplace. That’s why by integrating these solutions, thokmandee makes wholesale quicker, more secure, and simpler for all.
Data Insights for Suppliers
They give suppliers access to sales analytics and their dashboard, which helps them make great business decisions.
How thokmandee Helps Wholesale Vendors and Buyers
thokmandee makes life easy for wholesale vendors and buyers.
For Retailers
You can get a diverse variety of multicultural products at very reasonable and competitive prices, all from one point. Cafe owners, restaurant owners, and every business can easily purchase from different suppliers throughout the EU without any hassle.
For Suppliers
You can show your diverse list of products to more buyers through online storefronts to reach relevant retailers. Just register at thokmandee, register your business, upload your products, and you are ready to sell.
thokmandee is expanding by acting as a bridge between vendors and buyers.
What is the Future of Wholesale Trade?
Digitalisation will keep transforming B2B commerce in the coming years. Companies going online will clearly see the difference between traditional and advanced means of trading in the wholesale industry. They will experience more growth, safer transactions, and global connectivity.
It is time to adopt the ideology of Wholesale 2.0.
Join the revolution and expand your business.
