Offering wholesale pricing on your Shopify store can be a great strategy to employ as you are looking to expand your sales into new markets ad scale your business. In this article, we will explore when wholesale pricing is best used and for the types of eCommerce businesses, it’s best used for. We will also discuss payment terms and the best way to manage this on your Shopify store. Let’s dive in.
Wholesale pricing for Shopify stores varies depending on the store’s setup, product selection, and pricing needs. Generally, wholesale pricing for Shopify stores can range from 10-50% off of the store’s retail pricing. The exact pricing will also depend on the fulfillment needs of the store. Many Shopify stores offer discounts and bulk pricing for larger quantities. Additionally, some Shopify stores will offer specialized customization for their wholesale clients. Ultimately, the exact pricing and terms will depend on the particular type of eCommerce store.
Should your store sell wholesale?
It depends on your store’s goals. Selling wholesale can be a great way to increase sales, acquire new customers, expand into other markets, and better manage inventory. However, it also requires additional resources, time, and effort. You will need to decide if selling wholesale is the right business move for you. You should also consider if you can handle the financial and logistical responsibilities associated with selling wholesale. It’s important to take all of these factors into consideration and make an informed decision that is best for your business.
The types of businesses best for wholesale pricing
Businesses that are best suited for wholesale pricing are those that provide products or services that are repeatable and predictable. Wholesale pricing works best for goods that do not require customization and can be sold in bulk. Businesses such as manufacturers of food products, clothing, accessories, electronics, and home goods are all good candidates for wholesale pricing. Other businesses that can benefit from wholesale pricing include distributors, wholesalers, retailers, and e-commerce stores. Wholesale pricing can help businesses increase their revenue and profits, as well as expand their customer base.
Net 15/30 Payment Terms
Net 15/30 Payment Terms refer to the period in which payment for an invoice is expected from the buyer. Common net payment terms are Net 7, Net 10, Net 15, Net 30, Net 45, and Net 60. With Net 15/30 Payment Terms, the buyer is expected to pay off the invoice within 15 days of receiving the goods or services purchased, or within 30 days of the invoice date. These payment terms can help protect a seller’s cash flow, however, it also adds risk. If a buyer doesn’t pay within the 15 or 30-day period, the seller may have to take legal action to recover the debt.
Offering an order form for wholesale customers.
Order forms for wholesale customers
The best way to offer an order form for wholesale customers is to create an online form or e-commerce website for customers to fill out. This form should include all the necessary information needed by the customer, including their contact information, shipping information, billing information, the number of items, and pricing. After the customer submits their order form, the seller can then process their payment and get the order ready for shipping. Having a well-designed order form can help make the wholesale process faster, easier, and more efficient.
Multiple Discount Groups for Wholesale
Multiple Discount Groups for Wholesale can help sellers customize their storefronts and pricing for different types of buyers. This type of setup allows sellers to establish different discount levels based on customer type. For example, a store may have a wholesale customer group with a 15% discount and a loyalty customer group with a 20% discount. This feature is especially useful for larger stores that need to accommodate the needs and wants of multiple groups of customers. With multiple discounts, sellers can customize their store to better meet each customer’s needs and preferences, resulting in higher sales and more satisfied customers.
There are a lot of options available today to take your Shopify store to become a business to business eCommerce operation. With Wholesale Pricing Now, merchants can enjoy all of the features listed in this article such as multiple discount groups, Net 15/30, and order forms for wholesale customers without any friction or having to open a second store. It’s available on the Shopify platform, free for 14-days!