Plan to retail wholesale sweets? Already retailing but can’t seem to get your business in the black? Here are a few mistakes that might be holding you back.
Retailing wholesale sweets can be a deliciously lucrative affair – but only if you know how to run the business of selling confectionery in the first place. Here’s a quick list of common mistakes to avoid.
Not knowing your sweets – Sweets have a very special place in people’s hearts, from eliciting nostalgia to finding refuge from emotional experiences. Understanding the taste, texture, history and cultural roots of the sweets you sell can help you better identify which will work best for the people you’re trying to sell to.
Ignoring the competition – You do not want to butt heads with major retailers who have the logistical muscle to drive prices way, way down. You also do not want to establish yourself in a niche where an existing competitor is already deeply entrenched. Find out what kind of sweets and chocolates your competitors are selling, and you can order a range of wholesale sweets that will set you apart.
Devaluing your sweets – Relying on frequent discounts or severely undercutting the price of your competitors can do more harm than good – especially if you are selling finer confections. Sweets are a form of luxury, meaning that people spend on them for their perceived rather than practical value. Selling them too cheaply can make people consider that the product isn't as high quality as it is.
Using bland, uninspired packaging – Speaking of value, people will be likely to pay more for sweets and treats that not only taste great but look great as well. Badly displayed sweets stuffed into plain brown bags will not sell as well as tastefully arranged sweets presented and packaged with style and luxury.
Forcing your preferences – Just because you like a particular line of chocolate truffles does not mean other people will automatically like them as well. Take the time to understand what customers want by running a market study or handing out samples before you commit yourself to large orders of wholesale sweets.
Improperly storing sweets – Learning how to properly store the different products you have on inventory is an absolute must. Some need to be frozen, while others need to be kept at room temperature. Some need to be cocooned in nitrogen-filled bags, while others need to be left out in the open to maintain their taste. Again, the importance of knowing your products plays an important role here.
Failing to capitalize on "shareability" – Social media platforms like Twitter, Facebook and Instagram make it very easy for people to share things they enjoy – including artfully displayed sweets. Make it easier for people to find the source of those products by setting up a website, Twitter and Facebook profile.
Ignoring the local community – One of the biggest mistakes you can make as a retailer of wholesale sweets is ignoring the power of local support. Finding more about the people in your immediate area, from their age and health to their habits and the causes they support, will allow you to appeal to their interests in ways that few larger retailers can do.
Keep all these tips in mind and you will be able to better avoid some of the more common mistakes retailers make when selling confectionery.
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