One of the biggest challenges I see with my clients when we are talking about how to wholesale product is making that transition from direct-to-consumer selling to selling to businesses and to retailers.
The challenge is that your product collection should look and feel a little bit different.
You should be creating a product collection that retailers want to purchase together and that cohesively looks and sells well on their retail shelves.
I am going to give you 5 tips to curate your wholesale product collection, and I want you to take these tips and do a little inventory on your own product collection and ensure that your collection is ready for wholesale or is optimized for wholesale if you are already presenting and selling your products to retailers.
These are important tips that really make the difference in whether retailers are purchasing from you or not.
Gone are the days where you can sell 1 or 2 of your products, you really have to think about your product in your brand as a whole, and so you want to make sure that you have a collection that really makes an impact and stands out for your retailers.
Create a cohesive product line
Creating a cohesive product line means ensuring that all your products complement each other and collectively tell a compelling story about your brand.
This sense of unity makes it easier for retailers to visualize your products on their shelves and helps consumers naturally pair items together.
Consider a home fragrance company offering a range of candles, diffusers, and wax melts.
To maintain cohesion, adding related accessories like apothecary matches, wick trimmers, and candle care kits can enhance the product line.
Conversely, including unrelated items like baked goods or nostalgic candies would disrupt the brand’s narrative.
Identify and build upon your best sellers
Understanding which products are your best sellers is crucial for developing a successful wholesale product collection.
Start by analyzing sales data to identify the top-performing items.
By building on these proven successes, you reduce risk and increase the likelihood of appealing to retailers.
For example, if a specific candle scent is a best seller, consider expanding the line by offering it in different forms, such as room sprays or wax melts.
You could also introduce new vessels for the existing scent.
This strategy leverages existing consumer love for the product while providing variety that retailers can offer.
The pitfalls of overcomplicating your product portfolio
One common mistake among product makers is the temptation to offer a wide array of items, leading to a cluttered product portfolio.
While it might seem like having more options would attract more customers, it often results in confusion and inefficiency.
Instead of sprawling product lines, focus on a limited number of variations.
For example, a home fragrance brand might start with six to eight core fragrances.
Within these core offerings, you can introduce variations like different sizes or limited-edition seasonal scents.
This approach simplifies manufacturing and inventory management, reducing overhead costs and making it easier for retailers to navigate your product line.
Pricing your wholesale product for profitability
Pricing is a critical factor in wholesale success.
Beyond the basic formula of cost times two for wholesale and times two again for retail, it’s essential to ensure profitability and appeal to different consumer segments.
Retailers are attracted to collections that cater to diverse consumer bases.
Introducing products at various price points—low-end, mid-range, and high-end—can broaden your market appeal.
Ensure that each product is priced to provide an adequate profit margin both for you and your retailers, avoiding underpricing that could cause you to leave money on the table.
Staying ahead with market trends
Keeping abreast of market trends is vital for maintaining a relevant and appealing wholesale product collection.
Retailers often plan their purchasing a season to a year in advance, so understanding upcoming trends can give you a competitive edge.
When you are a member of the Wholesale Collective, you get access to a market trend forecast twice a year. We do that for spring and summer and then for fall and holiday, and we are getting ready to do our 2025 spring and summer market trend forecast.
These resources give you insights into what retailers will be seeking in the next six-to-twelve months, helping you align your product collection with future demand.
So, if you are ready to transform your product lineup to attract retailers and ensure your brand stands on retailers’ shelves listen to the full episode here!
