Vape retailers can increase their profit margins from vape wholesale supplies. This is because when you find an economical source of vaping supplies your net retail margin may increase. An impressive retail margin renders greater price flexibility. Thus, you can offer the products to the end users at a competitive price without transgressing the manufacturer’s Minimum Advertised Pricing Policy (i.e. MAP).
In contemporary times the vape retail market has witnessed substantial growth and competition has intensified. Securing profitable deals from a vape wholesale company will draw the line between success and failure of your vape shop. Following the postponement of FDA’s ruling on vaping the vape industry will continue to grow and become more competitive.
Get your vape wholesale supplies from the manufacturer
There is a golden philosophy in business that less you depend on the middle man more profitable you become. The vaping industry is not an exception to it. Striking a deal directly with the manufacturer can save your valuable financial reserves on vape wholesale supplies.
How to choose a vape wholesale supplier?
Before making a deal with vape wholesale suppliers ensure that they deal with premium brands and have great products and good work ethics. Thus, make sure that the vape supplier has the following:
• A good reputation in the vaping industry follows standardized practices, and patrons’ eminent brands.
• Offers quality pre and post sales service with dedicated account management facilities, logistic and international distribution good enough to suffice customer requirements;
• Brands that have wholesale distribution outlet in your country or region are preferable.
• Dedicated marketing and promotions team with strong online presence
• Offers great point of sales and online marketing resource support to their retail partners
Order small consignments of vape wholesale supplies
Although bulk orders are welcomed with discounted pricing, but in the initial phases it’s better to start with small consignments as customer’s acceptability of the product cannot be anticipated. Striking a deal with manufacturers having low minimum purchase order volume, a flexible wholesale pricing system that is related to the ordered volume, and customer loyalty programs.
Moreover, small orders help you test the brands supply chain efficiency, adherence to delivery deadlines, and product quality once existing stocks are sold. Check the brands release schedule as you may risk difficulty in moving stocks due to superseded or updated products. The bottom line is to maintain a stock that will sustain a healthy cash flow.
With the substantial growth in the vape industry there is a sea of opportunities for retailers to explore. However, they come with its share of challenges. You need to separate the industry stalwarts from the laggards. As a vape retailer it becomes important to partner with brands that possess substantial experience and knows the market subtleties.