Even if we are now in half of 2019 it is still to take a look at trends, opportunities and rising niches in distribution and wholesalers industry. In this article we will cover the latest of them, so you can be sure that nothing here is outdated and unuseful. Let’s take a look at this knowledge!
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During the last decade, the international market has changed many times. From the financial crisis in 2007-08 caused many changes everywhere. The leaders of production and sales industries stepped aside to make space for the new ones. Overall rules of the world’s markets and economies that were well known and stable lost their power. This led to the new beginning, which created the world we are living today.
Below you will find the latest options, trends, and information about the wholesale industry. So nothing can surprise you on your plans and way to success.
2. Trends in wholesales industry for 2019/20
With the unstoppable development of everything – tech, knowledge, science and more we can now feel the fresh breeze in this sector. Especially the technological development which led to many improvements in manufacturing and delivering goods, along with the rapid growth of the internet and development of information flow.
From the first personal computers to micro-sized devices you can wear on your hand today, technology keep developing. Nowadays businesses, especially big and complicated ones can’t function properly without it. This year we can observe some changes that are actually rolling in the wholesale business:
- IoT – Internet of Things has grown surprisingly fast. And it became important in business as well. Big data, augmented reality, machine learning, drones, wearable devices…it is just the tip of an iceberg which you should keep your eye on, no matter what size your business is.
- SMAC – social, mobile, analytics and cloud. For today’s standard its must-have for every company. Social media and mobile marketings are powerful advertisements and contact tools. Analytics will help you track all important data about your business, and cloud services will allow you to access everything anywhere you want to.
Of course, there are more growing technologies around but these two are the most trending in the wholesale business. Another one is the automation of data and logistics centers. Some distribution centers like Amazon are currently testing robots and machines which are doing small things but for a huge scale. Future is already happening, don’t miss this train because it will be very hard to catch on later. Use innovations now.
2. Globalization is here
With the help of the internet and fast developing of transportation options, globalization amongst the businesses increased. At this moment it is much easier to get various business opportunities globally than it was 10 years ago. And everyone takes a profit from this situation: small businesses because they can grow, big businesses because they can explore more markets, customers because of more products and services available. Various statistics show that in 2019 the globalization process is a trend in the wholesale industry. Are you ready to meet new, overseas customers and show your brand to them?
3. Supply Chain Opportunities
Can you answer the question: how your supply chain will look in the next 3-5 years? Even if you can, there are speculations that the supply chain will change in the near future. Nowadays the main producer and goods distributor is China. But this year we can observe small changes in the market that can be a part of something bigger happening in the background. People are looking for different sources of goods and services and take a pivotal decision to change the supply chain from China to another country. Of course changes like this don’t happen overnight, and it is impossible for China to become abandoned by even 10% of brands now. But if market observations are right and the current situation will prevail, it may become more than possible in the next few years. So don’t be scared of choosing other countries to supply your goods. It can be better for you and your company in the long term.
As we said earlier – technology is developing every day. And there is no difference in this case. The internet changed our lives. It formed new ways of communication and new behaviors. E-Commerce became more than important to a huge number of businesses. To be honest it is still a trend, even if it started to be one year ago. What is it changing? Your business is more available and visible on the internet, which can lead to achieving more customers. If you didn’t offer your services online and didn’t advertise them you should give it a try to check how much customers you missed earlier.
5. Additional value to your service
How to shine on the market amongst the other supply chains? How to create one that will give you success and glory? Well, this wholesale industry trend is a little helper here. Competition nowadays is so hard that you need innovation or something very fresh to beat it. You need to try to stand out from the others and make sure you are offering additional value to your customer. It can be done in various forms, like a loyalty program, online support, drop shipping, repackaging… there is really a lot of opportunities. And because it is trending activity now amongst the others, you should hurry up to surprise your customers with something unique.
Now as we reviewed some trends and opportunities in the wholesale industry for this, and the upcoming year we can jump into some niches that are worth investing in, in the near future.
3. Business opportunities and niches that you should look at now
The world is changing fast and businesses do so. Below you will find some niches that developed throughout the years and the fresh ones, that are widely open for newcomers. If you are planning a business or want to make an investment, you should definitely check these out.
Sport/Fitness equipment and nutrition business
This is not a new idea, but in last years it started to refresh itself. People today trying to make their lives healthier and their bodies fitter. The promotion of a healthy lifestyle, diet, and sports is now bigger than ever. The very huge market overall with a lot of niches that can still be improved is waiting for you. Advertised by world-famous sports stars it is definitely a business opportunity that we can recommend investing in.
We already mentioned it earlier so we just summary it. If you are interested in innovation, have basic tech knowledge and you are up to date with all the technological news – you should dive into this business niche. Because IT is still developing there will always be the market for people who are in this market area.
Healthcare and beauty
Along with the development of technology, there is a development in healthcare and beauty services. Nowadays this market is growing surprisingly fast, which is caused by the availability of machines and products, that allow better, faster and easier treatments. Worth keeping an eye on this trending business opportunity.
Small electric vehicles/electric automobile
Standard petrol is slowly making a room for it’s a quieter, cleaner and safer successor – electricity. The year 2017 and 2018 has come to us with a small electrical engines “boom”, which caused the rapid growth of this market. Even if there are a lot of brands producing electric vehicles, and competition of Elon Musk and his Tesla, there is still plenty of room for new investors and innovative products.
Internet is not anonymous anymore, but you can still have your vulnerable data safe. Security software companies are trying their best to keep your personal data safe, but as we can see the needs of customers are still growing. Also with Article 13 being agreed in the EU, there is a market of VPNs that just began to develop more.
Apparel and textile
A very old market that is changing right now. For decades people bought their clothes in chain stores. In the last few years, this situation began to change. Mostly because of reports that people who are creating these clothes are underpaid, working in fatal conditions and child labor is very frequently happening here. Now, this market opened with new opportunities and customers, who want their clothes to come from the fair trade and is ecological.
Ecological disposables, cosmetics, and everyday use products
A huge, fresh niche that is growing very fast now. Because of the degradation and contamination of our planet, people who want to save it created a natural niche for zero-waste and eco products. Investment in these is not only a good move because there is a very huge room for new brands, but you are helping to save our planet too. Isn’t that great?
In this article, you will find some good business ideas, business trends in 2019 in the wholesale sector. There are some more of them but we picked up the most popular and interesting in our opinion. We can’t of course guarantee that you will immediately achieve success from following this article, but we are sure it will definitely help you to decide about your business path. If you are interested in trends and niches in other sectors like the manufacturing industry, there is also an article on our blog about it – just click the link below. We hope that you enjoyed this article. Thank you for your attention and time. See you soon.
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