The latest research from Lumina Intelligence UK Wholesale Online Report 2023 reveals that inflation, energy hikes and staff costs ‒ alongside ongoing volatile consumer sentiment ‒ are having major impacts on retailer and foodservice businesses. New insights from the report show that 67% of retailers are worried about energy costs, and 63% cite inflation as a major concern, both presenting huge challenges to profitability.
Benefits of online show clearly
The new report highlights the benefits e-commerce offers, including maximising reach and boosting operational efficiencies for wholesalers. And for retailers, digital solutions can enable the cheapest possible price and offer that all-important personalised shopping experience through tailored promotions and product recommendations.
Online purchasing is main route to market in wholesale
Online-delivered is the main way that retailers purchase from wholesalers, currently standing at 71%, demonstrating the growing importance of the online channel for wholesalers and suppliers. During 2023, wholesalers have launched successful digital solutions focused on tailored category advice and personalised promotions.
WhatsApp Business API can boost online journeys
For wholesalers, WhatsApp is driving engagement and delivering a personalised experience, especially when messages are sent at the most effective times of day. For suppliers, B2B WhatsApp messages are key to boosting promotions, targeting higher spend and reaching a broader retailer audience.
Supplier-wholesaler website collaboration reaps dividends
With a very high proportion of search users never going past the first page of results, optimising internal search functions and media placements are key for ease of online navigation and engagement. Suppliers can collaborate with wholesalers to advise on clear taxonomy of products so that, for example, foodservice operators can easily find dietary alternative solutions on their platforms.