Wholesaling is getting more popular every day. The practice of buying in bulk from manufacturers and then selling to end consumers, either in a brick and mortar store or ecommerce website, has proven incredibly profitable for savvy entrepreneurs. Wholesalers are a crucial component of the retail process because they reduce production costs, save time, and allow organizations to branch out into new product lines.
That being said, not all wholesale products are created equal. You can’t expect to make much money if you decide to invest in items that people aren’t interested in. It’s essential to choose products that are in high demand, as well as simple to obtain and complementary to any other products that you sell. Think carefully before you decide which products to sell, and then think even harder about the manufacturers and suppliers you’ll get those items from. The most successful retailers anticipate what customers want and need, and offer a variety of products at price points that are profitable.
In May 2023, total wholesaler sales in the United States amounted to an estimated value of approximately 696 billion U.S. dollars. This represents an increase of about four billion U.S. dollars on the previous month. Source: Statista 2023
What Makes a Wholesale Product Great for Selling?
There is no universal product that is guaranteed to be a best-seller. The right wholesale product for you to sell depends on a few factors.
1. High demand products. Likely the most important factor in choosing what to sell, current trends or wholesale product popularity will be a driving force. How can you see what’s trendy? Try the following: Review Google Trends.
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- Look at social media influencers.
- Watch YouTube unboxing videos.
- Browse Amazon Suggest.
- Understand popular sections on wish list websites.
- See which hashtags are trending on Twitter.
- Use the Pinterest Suggest feature.
2. Your ability to market the products. If you’re not very familiar with the products or you don’t have the skill set to promote them, then it may not matter how trendy they are. For example, if you don’t have any experience with gardening, then it might be hard for you to sell gardening supplies using the proper terminology. You need to know how to suggest upsells and cross-sells, which can only work if you have a fundamental understanding of the category.
3. Alignment with your other categories. Your overall ecommerce presence needs to make sense. If you specialize in clothing, then any other categories you add should fit organically with clothes. Things like jewelry, bags, shoes, or accessories could all make sense. Things like towels or furniture may not make as much sense. You’ll have more success if you focus on a certain niche that people can come to know you for. They won’t think to browse your shop for other products if they have nothing to do with what you already sell.
4. Reasonable prices. The whole point of buying wholesale is to sell at a higher price and make a strong profit. If products are too expensive from the beginning, then your profit margins will be small. You want to do everything you can to maximize profit margins, so keep a close eye on how much you’re paying for items. Things like order minimums and shipping costs will also play a role, so make sure you read the fine print too.
5. Reputable suppliers. There’s nothing worse than having a product become a best-seller, only to sell out with no way to reorder. This can often be the case when working with unreliable vendors. Make sure to choose your manufacturers carefully based on what’s most important to you. A curated marketplace can help with this since they’ve already done a lot of the vetting. Newlable features only highly qualified suppliers and has staff to support you through the entire process.
The Best Wholesale Products to Sell in 2023
Here are some of the products that our experts are recommending for this year. Try out some of these wholesale product categories to build a strong retail offering.
- Baby items - From baby essentials like bottles to clothing, blankets, and accessories, people love to buy new things for babies. Baby items are popular for gifts and everyone who has a baby has a long list of items they need. Remember, there will always be new babies that people need to feed, clothe, and play with.
- Electronic accessories - The popularity of all things digital has broadened the market for a whole new product category. From digital watches to smart phone accessories, speakers, and scales, supplying small electronics can be quite profitable. In particular, mobile phone accessories have become best-sellers and will likely continue to grow.
- Holiday decor and gifts - Few things are more inviting at the holidays than a warm store beautifully decked out in seasonal decor. People love to buy holiday decorations and they also need a lot of gifts at that time. Browse decor ranging from traditional to farmhouse style or modern and sparkly.
- Gardening accessories - Gardening and outdoor decor took on new popularity during the pandemic with people spending more time at home. Whether people need new containers for indoor plants or weather-proof accessories for their outdoor garden, there are many types of gardening and outdoor products that can fill an entire shop.
- Coffee accessories - People really love their coffee, and many people like finding new ways to enjoy that coffee. A shop or site who sells coffee or tea themed items can choose between things like a french press, ceramic drippers, tea pots, travel mugs, and so much more.
- Children’s toys - Many parents are attempting to limit kids’ screen time, and turning to more old-fashioned toys. Things like arts and crafts, dollhouses, puzzles, and wooden sets have all become more popular in recent years. Additionally, the new category of “fidgets” is taking the world by storm, with kids collecting and trading them. You can build a loyal following by offering a range of items in this category like bracelets, pop-its, etc.
- Jewelry - While an incredibly broad category, jewelry will always be popular. The great thing about jewelry is there is a kind that fits almost all retail situations. From high-end gemstone items to cufflinks, woven bracelets, and body and hair jewelry, there’s something for everyone. No matter what you sell in your shop, chances are there is a type of jewelry that could complement your offerings.
- Women’s bags and backpacks - This is another area where you can choose items that align with what you already have. If you sell sporting goods, you can offer athletic bags. If you are a clothing boutique, you can sell purses. Pool bags, school bookbags, fanny packs, and a large variety of other purses and backpacks offer a natural fit for most retail organizations.
- Cosmetics accessories - The rise of influencers has made makeup and the items that go with it more visible and more popular. Cosmetics can be tricky to offer unless that’s your specialty, but makeup bags, brushes, mirrors, and other accessories are all fun to shop and gift to others. There are a lot of options out there to add to your product lines and capitalize on the cosmetic industry trend.
- Hats and beanies - Hats are a smart play for almost anyone because they are so customizable. Even if your current offering has nothing to do with clothing, you can offer hats with your brand name for another income stream. Everything from winter hats to baseball hats and sun bonnets are available from reputable sellers. Look for customizable options with low product minimums and high production quality.
Carefully consider each of these wholesale product ideas as you choose how to populate your store or website. These categories are likely to offer the most revenue and profit for your organization, but there are literally thousands of product lines to explore. Start by browsing Newlabel for ideas, and reach out to our expert staff if you need some guidance.
