First, there was COVID. Then, a boom in online shopping. Finally, reality set in.
Through all the ups and downs over the past few years, one fact has remained constant: Consumers prefer brick-and-mortar shopping. Despite rumblings to the contrary – along with the flat year many industries just weathered – wholesale isn’t dead. In fact, it’s very much alive and well.
Facts And Figures to Prove It
Don’t believe us? We get it. These last few years have seemingly been marked by dramatic swings in consumer shopping habits. But, here are some fun statistics for all the doubters:
- 72% of consumers shop in-store on a weekly basis. (source)
- From 2012 to 2022, total in-store retail sales dollars increased by 53.8%. (source)
- American consumers spent $6.917 trillion in-store, and $1.154 trillion online in 2022. (source)
Experts are projecting that 72% of ALL retail sales will occur in brick-and-mortar stores in 2024. Clearly, in-store shopping is alive and well, and that means wholesale is too. If consumers are going to stores to buy products (they are!), then retailers need to buy those products from brands like you.
Get Your Wholesale Ducks In A Row
What does this mean for your brand? It means that 2024 has the potential to be an incredible year for any brand ready to take advantage of the opportunity. But, to do that, you need to ensure your wholesale B2B platform is up to the task.
Make sure your brand is behind the wheel of your B2B strategy, and you haven’t lost control to your software providers. Build up a wholesale B2B ecosystem to increase retailer engagement, smooth out workflows, and enable your team to get more done. Get wholesale B2B focused content creation software to create digital catalogs and workbooks that take advantage of the power of your B2B platform to drive revenue.
Wholesale Will Grow In 2024, Will Your Brand Thrive?
There’s always a voice out there that talks up the next best thing, or wants to preach doom and gloom. However, the reality is that retail is predicted to be strong in 2024. And retail can’t be strong without support from strong brands. So, clearly wholesale is not dead. Make sure you’re one of the brands strong enough to take advantage of the coming deluge of success that will sweep through brick-and-mortar retail.
Need help? We’ve got you covered. We’ve been in this game for decades, helping every kind of brand under the sun find success. Let’s talk.
#wholesaleisnotdead
