How To Increase And Expand The Market Of Wholesale And Retail Stores.

Increasing consumer demand in remote places poses issues for manufacturing enterprises, as does having a robust distribution management system in place to tap this new but potentially lucrative market. This, however, offers excellent conditions for merchants in established areas to become wholesale and retail outlets, and, more importantly, Enterprise distributors.

According to Nielsen, wholesale and retail establishments generate money by supplying secondary merchants. It can range between 10 and 90%, with the majority coming from two sources: product retail and redistribution. According to Nielsen, the wholesale and retail store sector is the future market that manufacturing companies should seek and develop into.

According to data, there are up to 25,000 wholesale and retail establishments in Vietnam, spread around the country. They deal in a wide variety of goods to serve a wide range of customers’ needs.

Challenges When Expanding Wholesale and Retail Stores

• For starters, this industry is a profitable “bait” for many enterprises, thus rivalry is unavoidable. When participating in this trade channel, organizations must consider both financial and human issues.
• Local wholesale and retail establishments carry a wide range of brands and product kinds. You will lose potential selling points if you do not employ suitable distribution tactics.
• Because stores are extensively scattered to reach and sell items, it is difficult for company owners to control the actions of the sales force in remote places. Take care of your customers so that they will trust and remain loyal to your company.
• Enterprises still lack connections between suppliers, distributors, and retail outlets, or vice versa.
• Especially, from January 1, 2019, Vietnam will license overseas product suppliers to participate in the domestic retail market. This means that businesses not only compete with other selling points but also compete with retail stores and mini supermarkets from foreign brands. Create many obstacles for domestic businesses.

Solutions for Enterprises expanding Wholesale and Retail Stores

Create Trust for stores by providing information about the Business and product benefits:

• Enterprise information provided to retailers must be as thorough as feasible, if not better than rivals’ offerings. Provide vital information to the store regarding items, marketing tactics, and target clients, and notably provide benefits to store owners when they collaborate with the business for future development.
• Furthermore, a sales staff may be provided to them so that they can have more peace of mind in sales and increase income.

Always set the mode of concern and care with selling points:

• Organize regular meetings, exchanges, and seminars in which all sales points can participate. Meetings provide company owners with fresh knowledge about future markets, consumers, goods, and shop requirements, allowing them to enhance their products and make them more acceptable.
• Furthermore, during the exchange sessions, the shop owner will fully understand the items, the payment regime, and, most importantly, the company’s capacity to develop trust with the Enterprise.

Having regimes and policies suitable to potential markets

• In addition to the initial values stated in the two parties’ contract, the owner of the Manufacturing Business must watch the development of the stores, analyze the potential for development, and create circumstances for it.
• Through unique promotions, regulations for points surpassing the Enterprise’s aims, and the addition of many other forms of KPIs based on different types of discounts, clients may be more revenue motivated. The store is capable of carrying out its duties effectively.
• Create Effective Management Mechanisms.

Customer service management:

• By providing tools to capture and poll customer feedback, we can improve customer care services and goods.
• To develop an effective distribution plan, you must first understand the strengths and limitations of each selling point.
• Coordination between wholesale and retail outlets to ensure product preservation and quality when it reaches customers. When items are returned due to product quality, a swift and prompt remedy is required to ensure the value of the quality that the product delivers.
• Apply sales training recommendations to sales workers so that they can help the shop sell and better serve customers.

Manage Sales and Delivery Teams

• Apply distribution management systems and technologies to increase market oversight of the sales force so that they can effectively accomplish the specified objectives and support the selling points.
• Create a competent delivery crew that is designed to deliver in the least possible time and distance. The enterprise’s mission is to reduce costs while maintaining product quality for consumers.
• Improve your sales and delivery routes. Monitor and monitor again the performance of your employees.

Manage inventory and promotions.

• The use of a DMS distribution management solution to control inventory always results in the lowest possible inventory level. Automated inventory monitoring and timely notifications for management to ensure an appropriate distribution plan.
• Promotions and after-sales programs at each point of sale are always a problem for the Enterprise when the efficacy of the programs is not controlled, and updating data is complex and time-consuming. And major organizations have discovered this problem through DMS software solutions and effective program statistics, in addition to being able to combine many various sorts of stages to assist firms in designing diversely. The sort of promotion.

Consum: 

• The wholesale and retail trade channel is now an essential “hot” trade channel in the process of increasing the Enterprise’s market. These chain stores serve as supplementary distribution networks, allowing firms to reach out to outlying locations with minimal expenditure.
• Equip yourself with a DMS distribution management solution to boost your competitiveness, cut wasteful expenditures, and extend your potential markets.