2020-10-10
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Being a wholesaler gives you access to a diverse range of outlets and allows you to reach a large customer base. Offering your product as wholesale allows a larger audience access to your wares, therefore you are able to grow your business quickly. This can drive interest for your product, and can make you attractive to retailers, who can see that there is a solid audience for your goods and are more likely to want to stock your product.
Operating as a retailer is ideal if you want to retain complete control of your product lines and you enjoy having a hand on relationship with your customers. There is a lot to think about if you are in this position, but you are able to be responsive to the demands of your customers and their potentially changing needs and desires.
When choosing the most appropriate avenue to market, you must consider which model fits best with:
1. Your strengths and personality as a business owner
2. The brand identity of your business and its product or products
3. How best to reach your target market
Remember to evaluate the strengths of your product and your employees and assess the avenues open to you. Also, take into account how much control of the product you want to retain, and how much face-to-face contact with the consumer you need or want to have.
Here are a few other starting points:
· If choosing to become a wholesaler, prioritize selling to retailers by providing your resellers with the best service to allow them to grow their business and trust you as a repeat supplier.
· If choosing to focus on retail, prioritize the channels that will grow your business to reduce the need to rely on resellers to provide you with turnover.
· If you feel able to manage both wholesale and retail together, think about strategies that will allow you to grow the retail side of your business while being able to sell to retailers without competing against yourself.
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(From: https://www.brightpearl.com/sales-channel-strategy/retail-vs-wholesale)
What is your choice? Give your reasons to prove your decision. If you are working in commerce, do you plan to leave your present job? Why?
Ex. 3.12. Study the graph of economic output in the UK
(From: Chris Rh (2018). Retail sector in the UK. http://www.parliament.uk/commons-library)
Speak about the economic output of the retail sector (in terms of Gross Value Added, GVA, which is similar to GDP)
Follow the notes:
“ In 2017 it was £92.8 billion, which was _____ of the UK’s total GVA. Over the past ten years, the retail sector’s economic output _____. The retail sector saw a fall in economic output and then _____ following the financial crisis and subsequent recession of 2008, until late _____. In 2013, the sector began to _____ and grew strongly from _____. The retail sector _____ in 2017-2018.”
Ex. 3.13. What is required to become a wholesale and retail buyer? Watch the video (https://youtu.be/W-GTPnCVsV0) to answer the question. Complete the gaps (according to the video).
1. Buyers are successful if...
2. Buyers fail when...
3. The most challenging part of the buyer’s job is...
4. What does the buyer’s career depend on?
Ex. 3.14. What do you know about Brexit? What is your attitude to this event? According to the Independent, due to Brexit, “UK retailers have suffered their worst start to any year since 2013”.
Read the article (https://www.independent.co.uk/news/business/analysis-and-features/uk-high-street-store-closures-retail-job-losses-2018-next-toys-r-us-new-look-maplin-a8270506.html) and explain the contemporary economic situation in the United Kingdom.
Ex. 3.15. Study the following comments on Academic Writing.
It is essential to divide your writing into paragraphs, which are either indented from the left margin (i.e., they start further in from the left) or a line of space is left at the end of a paragraph and the next paragraph is started on the left margin. This makes it easier for the reader to read a text.
A paragraph is self-contained but should link logically with the previous and following paragraphs so that the flow and cohesion of the writing is maintained.
A paragraph normally contains several sentences but they are all concerned with the theme contained in the topic or key sentence (i.e., the main sentence).
The key sentence is usually the first one, which contains the main idea or topic.
The other sentences support it by adding further information or examples.
(From: Jordan, R. R. (1999). Academic writing course: Study skills in English (3rd ed.). Harlow, MA: Pearson Education. P.16)
