An overview of the common factors that can influence wholesale buyers behavior

An overview of the common factors that can influence wholesale buyers behavior

Whether you are having a small wholesale business or a large one, the success depends upon choosing the right products that can be sold ahead. Once you have decided the products you will deal in, the next step is to finalize certain factors that can help you in buying wholesale products. Wholesalers usually buy in large quantities either to sell products ahead at a profit margin or to save costs when buying goods in bulk. There are different factors that can influence wholesale buyers' behavior to buy products. Let's summarize few of them:

Wholesalers usually decide to sell products that are "hot" in market and according to customers' demands. It is one of the major factors that help wholesalers to decide which products to buy. Wholesalers should base their buying on the specific demand of their customers or on what they can search for. Sometimes, wholesalers may overestimate the demand of particular product that can be a loss for their business so collect statistical data for a right buying decision. If the availability of a particular product line is limited, it is necessary to correctly estimate the demand.

Customers usually compare products on the basis of price, perceived quality, additional features and the way products are presented to them. Sometimes the packaging of products appeals end-customers to pay more attention to them. Therefore wholesale buyers should not ignore these features while buying wholesale products.

There is a possibility that purchase decisions turn out to be wrong sometimes. Therefore many wholesale buyers prefer to buy well-known branded wholesale products rather than buying non-branded high-priced goods. If you are going to purchase branded products you can get them at low prices in off-seasons, overstocks of branded-products or discount-offers of brand stores.

Deciding substitutes can be other criteria for wholesale buyers to choose the products. Wholesale buyers' choice can be influenced by the "way" substitute products are described. It is because mostly products match a lot with each other in characteristics and it becomes quite difficult for wholesalers to choose one out of them.

Most of the time wholesale buyers' predictions about customers' future demands and tastes are not accurate. They want to offer something "new" and innovative to their customers but they do not really know how they will respond after using particular products. They make wholesale buying decision on this assumption as well.

Variety of products can also influence wholesale buyers' buying decision. Different customers demand different products so wholesale buyers should prefer to buy variety of products that must also be different from the ones offered by their competitors.

Wholesale buyers choose most of the products based on their past experiences but they should finalize the goods on additional information provided to them. For instance, the wholesalers or dropshippers dealing in video games can choose Play Stations based on their expertise but they should finalize the model based on the information given to them about new features added to it.

All the above mentioned factors put a great influence on wholesale buyer's behavior.

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