What percentage of your business is done through eCommerce such as your website or company stores?
According to a study by Vantage Market Research, the global Business-To-Business (B2B) eCommerce Market was valued at USD 7.08 Trillion in 2022 and is projected to reach a value of USD 26.59 Trillion by 2030. While the promotional products industry hasn’t always led the charge on adapting to trends globally, this is one area where – thanks to massive advancements in technology solutions and printing capabilities – the industry is finally able to keep up.
What exactly does this mean for you? Well, in short, if you aren’t in the eComm game, you should be!
Some of the common objections we hear from distributors about reasons for not leaning into what could potentially skyrocket their business are:
- The need to take an inventory position on product
- Cost of warehousing
- High minimum orders
- Worry about the amount of time stores will take to manage and maintain
- Minimum spend
- Lack of knowledge about fulfillment
- Difficulty calculating tax rates
- Confusion around calculating shipping rates
- Logistics in general
While all of these concerns are valid and seem overwhelming, they are all easily overcome by connecting with the right partner. Moreso, taking the time to learn about and address these concerns has the potential to help take your business scale to unimaginable levels.
Where to start?
Before moving forward, quantify your opportunities. Evaluate your current client list and prospecting list for potential candidates.
For instance: Do you have enterprise-level clients or prospects that could benefit from a way for employees to order things like uniforms and branded merch for activations across multiple offices nationwide? Maybe you have clients or prospects needing uniformity of brand across several departments? Or, on a smaller scale, do you work with or want to work with clients who would occasionally need to host a pop-up style shop to sell apparel and other branded merchandise at events, for short periods, or at various locations?
If the answer to this question is yes in any scenario, there are options available to you!
Take note: Who in your client and/or prospecting list might be a good fit for a company store, and which of your clients/prospects would not be a great fit? Why?
Additionally, what does the ideal product mix look like, and what features are most important to both your client and you?
From here, you’ve got a solid foundation to begin interviewing providers to ultimately find the one that will best suit your needs.
Want additional help getting started? At Proforma, we lead the industry with the technology needed to process both traditional purchase orders and company store transactions. Whether your needs are small or large, we’re certain we’ve got an eCommerce solution for you. Connect with us today to learn more about what’s available to you AND the infinite scalability that is only available with the power of Proforma!