May 29, 2009
Hello Fellow Etsians,
Mythical Matters here! We've noticed that crafters and artisans often feel some nervousness at the idea of wholesaling. Allow us to put your minds at ease! It's important to remember that wholesaling is a mutually beneficial business relationship. You benefit from larger order sizes, promote your brand in far-off locations, and profit from repeat sales. However, the retailer needs you, too! They are counting on you to provide them with interesting creations to help their business thrive – ever try to make sales in an empty store? These benefits come with responsibilities, of course, like keeping in touch, being dependable, innovating, and being an all-around decent human being. Let's look at some ways that you can fulfill your part of the wholesale bargain.
1. Make sure you're offering something the retailers can use!
As a business owner, you may have to make some judicious decisions when deciding what you're going to wholesale, since this entails taking about 50% off your retail price (see this super-helpful article about wholesaling). Consider items that require less labor and which supplies you can buy at a discount in bulk, or pieces that you earn a higher profit margin on. Since you won't be around when your creations are being sold, it helps if the 'point' of your goods is clearly understood on the label or with in-store signage. It's also beneficial if the attached information fulfills a clear need for the user (birthday gift, personal statement, memento, etc.). If none of your creations seems to fit within these tenets, consider developing lower cost, less labor intensive items with clear sales benefits, and set your prices accordingly.
2. OMG how do you even start finding wholesale customers???
The easiest way is to include the words 'wholesale welcome' in your Etsy shop announcement. Think of your wholesale business as its own entity with its own costs and efforts. It's not often that you find wholesale customers in the same place as retail shoppers. Scope out local shops that you think might be a good fit for your products, and ask your friends and fans for stores where they'd expect to see your stuff. Then pick up the phone and let those stores know what you're up to, ask if they'd like you to send some sales materials, or make an appointment to show your samples. Once you've got some practice under your belt, take the plunge and exhibit at a wholesale trade show — it's the single best place to find quality wholesale buyers, and it's fun!
3. Make it a great experience - be prepared!
The more information you give about your wares, the better. You'll need a catalog — it doesn't have to be the most expensive, but it should be clever and have pictures. Include terms, accepted payment methods, return policies, a business card and a price list with both wholesale and suggested retail prices, as well as your minimum order. (You have to make these giant discounts worthwhile, don't you?) If your medium allows it, bring along some samples for your potential wholesale clients! Remember, these are real people who've had lots of wholesale meetings before. It's okay to let them know you're new, it's okay if you don't agree to every single thing they ask for, and most of all, it's okay if they decide your goods aren't for them — use this as an opportunity for feedback! Read more here.
4.What's a relationship without communication?
Once your customer has placed their order, your work is not yet done! This is a relationship you're in, not a one-off sale. Include training sheets that can help make the retailer and their staff experts on your pieces. Include information like materials, an artist bio, colors and sizes, environmental statement, etc. This will equip them to best explain your oeuvre to others. Be sure to keep in touch with your wholesale clients! Place calls periodically to ask them for feedback on sales or what they've heard from their customers. Make sure you let them know whenever you've got new items, since keeping their selection fresh is as important to retailers as it is to your Etsy store. And yes, if they're into this newfangled intrawebs, you can tweet and friend them, too!
5. Be enriching!
Whenever you decide to make promotional effort, make sure it benefits your wholesale accounts, too! Pick a busy Saturday and set up a table inside your wholesale account's brick and mortar for a few hours. Take this opportunity to talk to the store's clientele about your creations. This not only allows the staff to get to know you and your product, it's a great way to introduce your line to their customers in an interactive way. If you're having a sale or adding free goodies to orders, be sure to let your wholesale accounts know that these deals are available to them, too. Make your painstakingly-prepared products shots available to their web designer so that they can use your awesome photos on their website. Have you been covered in the media recently? Let your wholesale accounts know so they'll be in the loop!
6. Don't forget your soul!
Selling is good because it allows you to make a living. However, selling just for the sake of making money is a surefire way to shrivel up your soul into a tiny little prune-like entity. (And that's no good!) If that's the case, you'll only come across as desperate and uncomfortable. Take this time to have a good brainstorm about what you're doing and why. There has to be more to the exchange than just "Please buy my stuff!" Share who you are with your customers. Explain your passion for your craft, or tell them the story of how you got started in the first place. Talk about the nature of art. Talk about anything! The more real you are, the more you give your customers a chance to become a meaningful part of your life network, and isn't that really the whole point of it all?
Feel inspired? Great! Do it now! :)
Storm E. Crow & Shadow E. Coyote
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