Currently, the pandemic continues to impact international trade across the globe. Wholesale distributors have been severely affected. Given the current situation, we’ve highlighted some tips on how to maintain a sustainable wholesale distribution business during a pandemic.
Embrace Online Wholesale Channels
The pandemic has interrupted offline exhibitions and has halted face-to-face communication. Wholesale distributors who were used to participating in offline exhibitions, couldn’t attend this year because exhibitions were canceled. Online channels have become their only source of business this year.
The most influential business exhibition for wholesale distributors is the China Import and Export Fair. Also known as the Canton Fair. The Canton fair has never been canceled since it was established in 1957. Unfortunately, this is the first year the exhibition was held online.
The online Canton Fair attracted overseas wholesale distributors from 217 countries and regions to register for the exhibition, and the distribution of sources set a historical record. Nearly 26,000 domestic and foreign exhibitors uploaded massive exhibits through graphics, videos, 3D and other forms. Ultimately, the business was still able to be made which was a true blessing in disguise.
With this current landscape, wholesale distributors need to shift from traditional offline channels to online wholesale trade. CROV fully recognizes this current shift in the market, especially for small and medium sized wholesale distributors. CROV provides a one-stop online wholesale transaction service which includes logistics and warehousing.
Make full use of overseas warehouse services
Due to the impact of the pandemic, international logistics has also been affected severely. In the first half of the year, air and sea transportation were nearly stopped, and the terminal delivery was also delayed. Due to these unprecedented circumstances, the advantages of overseas warehouses have been highlighted and sought out. During the outbreak of the pandemic, all third-party overseas warehouses were in short supply. The localized delivery service of overseas warehouses allows customers to experience the expected express service. Under the premise that wholesale distributors own cash flow is sufficient. The overseas warehouse stocks are accurately calculated according to the turnover cycle, which can allow them to sit back and relax for at least one turnover cycle. This may even increase revenue. CROV owns a 200,000-foot warehouse in Ontario, California, USA, to prevent the delay during terminal delivery, wholesale distributors can also go to the warehouse to pick up directly without worrying about the loss of goods. Therefore, avoiding any negative change is your own distribution business.
In general, the pandemic has greatly changed the traditional methods of cross-border trade in the past. Online wholesale trade is the future. Wholesale distributors must adapt to maintain a sustainable distribution business.