Shopify is a great platform for businesses of all sizes. Not only does it make it easy to set up an online store, but it also provides a wide range of features that can help you grow your business. One of the best features of Shopify is the ability to offer wholesale pricing to your customers. This can be a great way to attract new customers and grow your business. In this blog post, we will discuss the benefits of going wholesale on Shopify.
Higher Order Volume
When you offer wholesale pricing, you inevitably increase your order volume. You see, you not only get to sell to direct consumers, which we call B2C. You get to sell to businesses as well, which is known as B2B. Offering both options makes your business much more lucrative and stable. After all, you’re not relying on just one type of customer.
Plus, when you have a higher order volume, you can take advantage of economies of scale. This means you can get better deals from your suppliers because you’re buying in bulk. And, of course, you can pass on those savings to your customers. Everybody wins.
When you sell products on a one-time basis, your income is limited to the number of products you can sell in a given period. But when you sell products on a recurring basis, your income potential is virtually unlimited.
That’s because customers who buy products repeatedly are effectively agreeing to become long-term partners with your business. And as any good business partner knows, the key to success is repeat business. In other words, when you have customers buying products from you on a regular basis, you can count on a certain degree of predictability and stability in your sales. This, in turn, makes it easier to forecast your income and expenses and manage your cash flow.
Improved Cash Flow
When you have a steadier stream of orders coming in, you can more easily predict and manage your finances. This is because you have a better idea of how much revenue you’ll be bringing in each month.
In addition, having recurring customers can help improve your cash flow by providing a steadier stream of income. Customers who buy products from you on a regular basis are effectively agreeing to become long-term partners with your business. And as any good business partner knows, the key to success is repeat business.
In other words, when you have customers buying products from you on a regular basis, you can count on a certain degree of predictability and stability in your sales. This, in turn, makes it easier to forecast your income and expenses and manage your cash flow.
Discounts and Promos
Another great benefit of wholesale is that you can offer bulk discounts to your customers. This can help you attract new customers, increase sales, and boost your bottom line. Shopify’s Discounts feature lets you offer fixed-amount or percentage-based discounts on your products, and you can create as many discount codes as you want.
You can also specify when the discounts expire and whether they’re valid for one-time use or multiple uses. Plus, with Shopify’s built-in discount management system, it’s easy to track and manage your discounts.
VIP Pricing and Custom Pricing
Shopify also offers VIP pricing and custom pricing features that let you offer special pricing to specific customers or groups of customers. With VIP Pricing, you can offer exclusive discounts to your best customers or create a VIP customer group with special pricing for members.
With custom pricing, you can set custom prices for specific products, collections, or variants. Both VIP pricing and custom pricing are great ways to increase sales and loyalty among your best customers.
Why You Need Wholesale Pricing: A Guide
Offering wholesale pricing on your Shopify store has been made incredibly easy through the use of Wholesale Pricing Now’s Shopify app. You don’t have to open a separate store and it’s a great way to increase sales, boost your margins, and create a recurring revenue stream. It’s easy to get started and there isn’t a need for developer resources to benefit from offering wholesale pricing on your store. So if you’re thinking about offering wholesale pricing on your products, try it free for 14- Days.