Wholesalers are among the most critical participants in the B2B supply chain. They purchase products in larger quantities from manufacturers or distributors before selling them to other businesses.
With tight margins to manage, companies in the wholesale industry can’t afford to have mistakes in product specifications, as the costs of storing excess inventory can risk derailing their business.
But what if there was a way to reduce the amount of stored inventory? Introducing customized products achieves just that. A 3D product configurator can give wholesale businesses a leg up on meeting customer demand while providing a personalized experience.
Related: 7 Trends That Will Change the Wholesale Industry in 2023
A 4-Year Outlook Into the Future of the Wholesale Industry
E-commerce Leading the Way
Wholesalers got a taste of eCommerce and will continue to leverage it as B2B customers embrace it. According to Digital Commerce 360's B2B Buyer Survey, 49% of B2B buyers now source at least 50% of their needs from online marketplaces.
Early adopters have found success with eCommerce, and those who act swiftly to prioritize it can occupy this space and secure digital "real estate". A private digital sales channel or B2B marketplace can provide avenues for wholesale brands to capitalize upon.
Growth in D2C Channels
Wholesalers will continue to develop direct-to-consumer (D2C) sales channels to manage supply chain issues.
McKinsey recommends that companies that considered D2C sales channels in the past but decided against them should definitely reconsider, and many have already heeded this call. Leading companies that previously relied on wholesalers, like Nike and PepsiCo, are fully on board the D2C bandwagon.
Consumers' preference for omnichannel services is another trend that will continue to intensify.
Customers expect to be able to access your services whenever they want on mobile, desktop, and in-store.
According to McKinsey, 80% of consumers make their purchase decisions online, and omnichannel customers purchase up to 70% more frequently than offline customers. Although this trend has been more pronounced for B2C transactions, it is also making its way into B2B sales and increasing popularity among wholesalers is expected.
Focus on Search Visibility
The emphasis on search visibility has grown as B2B wholesale distributors move to digital selling. However, a challenge that will continue to affect many vendors is ensuring that they remain visible to their target market as they conduct business online.
Paid advertisements, as well as search engine optimization (SEO), are among the search engine strategies of interest. Along with promoting search exposure, SEO is a strategy that sellers continue to rely on to build online brand awareness and visibility.
Intelligent Inventory Management
Wholesalers usually deal with excessive inventory issues because they work at the bulk supply level. Managing five to ten large warehouses, for example, makes the inventory experience more challenging.
Wholesalers can use inventory management software to help simplify the process for the employees. The application may be a standalone solution or part of a larger enterprise resource planning (ERP) platform. Intelligent inventory management has many advantages, making it easier to keep an eye on stock levels and identify which products are selling to better forecast demand. Leading wholesale companies are expected to adopt this technology now and in the coming years.
How a 3D Configurator Can Help Companies in the Wholesale Industry Offer a Dynamic Digital Experience to Customers
There is no doubt that companies in the wholesale industry could benefit from a 3D product configurator. This technology provides a dynamic digital experience for customers and aids wholesale sales strategies. Let’s take a look at how this is accomplished:
Interactive 3D Visualization
Having the ability to interact with a customized product before purchasing gives customers confidence in your products. For instance, customers who want to buy a custom bicycle can interact with 3D renderings of their product and view it from all sides and angles. This ensures that they will receive exactly what they design and order.
Reduced Order Cycle Times
The time it takes clients to move from configuration to pricing and then to quoting can drastically decrease with CPQ (configure price quote) software like 3D product configurators. It can help wholesalers accelerate procedures and push data to other systems for an improved understanding of the purchasing process.
Improved Customer Experience
The personalization features of a 3D product configurator make it easier for companies to provide a unique shopping experience for customers. They can customize and purchase products without ever going to a physical store. This speeds up the sales cycle, reduces the risk of production errors, and creates a personalized shopping experience that customers appreciate. All of this leads to an increase in customer satisfaction and revenue.
Greater Cost Alignment
3D product configurators also make it easier for customers to monitor design costs. Various design options allow them to set their prices and adjust as needed during the customization process. Getting an accurate quote of what the product will cost before placing a bulk order can reduce unnecessary spending and ensure that orders stay within budget.
Improve the Personalization Experience With Salsita
For companies in the wholesale industry, a 3D product configurator offers a way to drastically improve the customer experience through better personalization and customization.
Salsita 3D Configurator is equipped with dynamic features that enhance the shopping experience while remaining true to the online presence and branding of a company.
Companies like Easysteel have worked with Salsita to create a 3D product configurator that boosts client engagement by simplifying the sales process, promotes creativity, and increases sales. Check out this case study to learn how Easysteel’s collaboration with Salsita provides an enhanced sales experience for their customers.
Contact us or book a demo for more information on how Salsita 3D Configurator can do the same for you.