Purchasing eyewear at wholesale is a good strategy for making money as a retailer, particularly when the eyewear in question is sunglasses. Bulk sunglasses and a variety of styles in brands can be had at very reasonable prices. They can be sold at retail for a nice profit. You already know that if you are a regular Olympic Eyewear customer.
If you're not, which is to say you are a beginner at the wholesale-retail thing, just know there is a lot to learn as you seek to maximize profits. We want to help you as much as we can. After all, we are confident you will purchase more wholesale sunglasses from us as your retail business expands and grows.
It is with that in mind that we have put together this beginner's guide to wholesale eyewear ordering. It doesn't cover everything you need to know, but it is enough to get you started and moving in the right direction.
1. Choose and Learn About Your Market
The first step in any business venture is choosing a target market. Once that market has been identified, you do everything you can to learn about your customers. Most of the retailers who purchase bulk sunglasses from Olympic are targeting middle-class families and singles who want high-quality, designer sunglasses but are not willing to spend hundreds of dollars on a premium brand.
Let's say this is your target market as well. What makes them tick? How do they spend disposable income? How do they dress; what types of leisure activities do they enjoy; what are their needs in terms of sunglasses? The answers to all these questions will inform how you reach them.
2. Always Vet Your Suppliers
In order to sell sunglasses at retail, you will have to purchase them in bulk from a wholesaler like Olympic
Eyewear. Be very careful to vet any suppliers you're thinking of doing business with. Research them online. Call them and ask them specific questions. Do your due diligence to ensure all your suppliers will do right by you.
3. Learn About Minimum Order Quantities
Wholesalers often utilize minimum order quantities (MOQs) to ensure they are selling enough product to make it worth their while. Be sure you understand MOQs and how they affect your needs, budget, and inventory. Exceptionally high MOQs could be detrimental to your bottom line if you are just starting out.
4. Per-Unit Pricing Is Just the Start
As a beginner in retail, one of the things you are going to learn very quickly is that per-unit pricing is just the start of the financial considerations you'll have to pay attention to. You are going to have other costs of doing business. They need to be built into your retail price. Think of things like shipping, storage, marketing, etc.
5. Variety Is Your Friend
A big benefit of wholesale buying is the ability to get each pair of sunglasses for less. But this means buying in bulk. While bulk purchases are not a bad thing, it's still a good idea to invest in a wide variety of styles and colors to appeal to your entire customer base. Don't be afraid of variety. It is your friend.
One last thing to consider in closing is product quality. If you are targeting the previously mentioned middle-class audience, don't skimp on quality. They know it when they see it. By the way, Olympic Eyewear doesn't skimp on quality. Our regular customers know that our quality is every bit as good as more expensive brands. Ours is just more affordable thanks to our wholesale pricing.
