Most people wouldn't think that wholesale has much to do with the buying experience we all know and love today. But wholesale is actually where the innovation should shart.
The best way to understand why is to learn from somebody on the inside. In the 1990s, Kristin Savilia was introduced to the world of fashion as a buyer for Macy's.
Fast forward to over 20 years later, and she's returned to the fashion wholesale world. Except this time, she's in charge of the digitization of the entire buying and selling process. What does this have to do with the future of retail? There are three major trends that, thanks to technology and innovation, can teach us a lot about the downstream effects of digitization on the B2B side.
Data is coming to the forefront
If you're a wholesaler and your product assortment is wrong, it doesn't matter how pretty your website is. Investing in digital transformation upstream brings better results on the consumer side. It enables you to go from working in a silo to connecting with brands from anywhere in the world. Just as consumers make better buying decisions when we can compare products across hundreds of brands by price, material, size options, etc., retailers need exactly the same thing to bring those very products in front of the end consumer.
This story is from the Startups January 2023 edition of Entrepreneur magazine.
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This story is from the Startups January 2023 edition of Entrepreneur magazine.
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