The goWholesale Blog

Beat the Weak U.S. Dollar–Go Global!

April 30th, 2008

Expanding overseas is a common idea entrepreneurs have in their business plans as a “down the road” growth option but with the recession and subsequent weakening of the U.S. dollar, it might just be the key to keeping your business afloat. Many companies are able to sell their products for twice as much as they can here!

While opening a brick and mortar store is certainly optimal, if you are a small company who doesn’t think you can spare the capital to do so, don’t fret. Another perfectly viable option is to open an international website (ie. a .uk site). Yet another option is to ship over seas and accept various forms of currency, if you’d prefer to test the international “waters” before you take the plunge.

Be forewarned however…going global is no easy (or small) task. Tracey Mullin of the NRF’s STORES Magazine states:

“In addition to potential hurdles with vendors, disparities in laws and differing customer priorities, retailers must identify a merchandise mix that appeals to a new demographic. While the transition may be a bit easier for online retailers, these companies face their own challenges nuances in language, inventory control, even the selection of website colors and fonts.”

Yes, it’s risky and a lot of work…but it just might keep your business from succumbing to this dismal stateside economy.

Check out our Doing Business Internationally articles for more tips on how to get started going overseas.

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Posted in Doing Business Internationally | No Comments »

SEO Rapper Spits the Basics–Word.

April 29th, 2008

Alright, so who says SEO has to be dull and boring? The SEO Rapper a.k.a. Poetic Prophet a.k.a. Charles Lewis is on the scene and his SEO tutorials on YouTube are informational AND entertaining. He relays just the basics but that’s about all this format will allow for. So if you’re just starting out with your website and you have a well trained ear for deciphering rhymes layered over thudding bass beats (or an old pro looking for a little entertainment) check it out:

He’s also got clips on link building and paid search. Enjoy!

**Remember this as a great example of thinking outside the box as well. This guy’s getting a lot of buzz for doing something different…yeah it’s a little cheesy and high school presentation-y but it’s got people talking…and that’s the key.

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Posted in E-Commerce and E-Business, Starting a Business | No Comments »

The Great Consumer Schism - Tips for Brand Name Retailers

April 28th, 2008

It’s begun. The Great Consumer Schism is effectively working its way through America-an event last experienced in this country in the ’70s. Economic disparity in America is nothing new. But in times of recession the division is inflated and even more apparent as seen through shifts in spending habits. It makes perfect sense of course that middle to lower income households are switching from brand name items to generic in order to save a few bucks.

So what does this mean for retailers? Well, if you sell cheaper products, this is great news! If you sell brand name (and therefore more expensive) products you may want to reconsider your strategy. Here are a few suggestions:

These are just a few ideas to get you started thinking in the right direction. For more tips check out Don’t Let a Slow Economy Slow Down Your Business

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Posted in Generating More Sales, In the News | No Comments »

Internet Sales Tax Looms for NY…Will It Catch On?

April 24th, 2008

Interesting…very very interesting.

Do you think states should be allowed to levy a sales tax on online purchases?

Well according to a WebProNews.com post, New York is attempting to test those waters. Legislators are trying to pass a bill titled the “Amazon Tax” and are targeting online retailers who are not located in New York. The sales tax would be attached to any items shipped to the state. Proponents of the bill say it will help level the sales tax playing field for brick and mortar retailers and they estimate it will generate around $50 million in tax revenue for the state.

Opponents claim the tax is being introduced due to miscalculated spending and that this tax is being invented to compensate. Large companies such as Amazon have reviewed the bill and believe it will be challenged in court.

Thus far, the government has been reluctant to allow states to regulate internet transactions.

What do you think?

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DollarDays Revamps Its Website!

April 23rd, 2008


Our friends at DollarDays International, a Web-based virtual warehouse, where small business owners and charities can find great deals on small business-sized orders for more than 25,000 consumer products, have redesigned their website to be more customer friendly. The new and improved features include allowing customers to find exactly what they’re looking for with greater ease as well as the ability to enlarge pictures to see exactly what the products look like. Early tests of the new site indicate that the average order has increased over 8%. At the same time new customer registrations have already almost doubled from 327 a day at the end of 2007 to 631 a day currently- a figure that is expected to continue to climb even faster with the new site.

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Fuel-enomics: 10 Tips for Small Businesses as Prices Continue to Rise

April 22nd, 2008

Crude oil prices are up 16% already this year and show no signs of slowing down. So without further ado and straight from the dailybreeze.com here are 10 great tips on how small businesses can deal with the soaring gas prices:

1. Add a separate fuel fee. Call it a fee, call it a surcharge - call it whatever you want. But more and more small businesses are tacking on a special charge to offset the cost of gas. Customers may not be happy, but most understand since they’re dealing with the same situation themselves. They don’t expect small businesses to absorb gas price increases forever.

2. Restructure your pricing or territories. Some businesses are restricting the areas they serve, or charging more to go out of area. Others are raising minimum charges or putting tiered pricing in place to compensate for having to travel greater distances.

3. Use an outside shipper. Small businesses that once delivered small supply orders themselves are finding it cheaper and more efficient to send things via UPS or the postal services. In many cases, items arrive in just a day or two. Shipping services Web sites such as RedRoller.com can help you find the lowest-cost carrier.

4. Leverage the Web. Show customers how buying online and by mail order can save them money by not having to visit your location. Use Web-based collaboration sites to “meet” with clients, freelancers, partners and others rather than meeting in person. A few choices include Zoho, Basecamp and WebEx.

5. Hop into a hybrid. A few years ago, there were only a couple of hybrid models to choose from. Now there are dozens, including SUVs and vehicles suited for small-business needs. Even if you don’t get a hybrid, lighter-weight vehicles and those with smaller engines may be far more fuel efficient than what you have. If you plan to switch, a great place to compare fuel efficiency information is at FuelEconomy.gov.

6. Charge by the mile. If your business or profession allows for it, a per-mile charge might work best. This allows for small adjustments whenever needed. The standard IRS mileage rate for 2008 is 50.5 cents per mile, up from 48.5 cents in 2007.

7. Drive less. Have your suppliers deliver items you need to your business rather than picking them up yourself. Use online map-routing services like MapQuest.com to plan service and delivery routes better, for maximum fuel and time efficiency. Group jobs together to reduce travel.

8. Get rebates on gas purchases. Gas rebate credit cards are increasingly popular with small businesses and can net you cash back of up to 6 percent on what you spend. The higher fuel prices go, the more you get back. Just be sure you pay the bill on time, or interest charges will more than eat your savings. Find gas rebate cards at CreditCardGuide.com or PumpandSave.com, which currently lists the Discover Open Road card as the best deal with 5 percent cash back on all gas and auto maintenance.

9. Find the cheapest gas. While it doesn’t make sense to drive far to save a few pennies, there can sometimes be a surprisingly large price difference just a short distance away. GasBuddy.com and GasPriceWatch.com are two Web sites that specialize in helping find the cheapest gas in your area.

10. Follow fuel-efficient driving tips. You’ve probably heard them - avoid jackrabbit starts; keep tires properly inflated; run air conditioners less, keep vehicles tuned and air filters clean, etc. WikiHow.com has a long list of ideas for “How to Save Money on Gas.” Search the title at the site.

For more tips check out Oil prices are going up–ways to cut down on the business energy bill and Little Cost-Cutting Tips that Add Up to Big Savings.

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Posted in Finance and Accounting, In the News | No Comments »

There’s a New Credit Card Scam in Town

April 18th, 2008

It’s almost like that gopher pounding game at the carnival. As soon as you bop one on the head another pops it’s mocking little head out of the hole which you must smash into oblivion…and so on and so forth for what seems like forever. Just as law enforcers find a way to prevent a crime, criminals find another way to commit it. We often stereotype criminals as dumb but in reality, in order to be a successful criminal you have to be smarter than the system that’s designed to keep you from violating it. It’s the nature of the beast I suppose and they’re back at it again.

In what is termed “credit card shaving” people buy gift cards or take stolen credit cards and test a 16-number sequence either by trying to make a purchase online or by calling a verification number the way merchants do. The scammers then scratch up the new card’s magnetic strip so a store clerk has to enter the numbers manually, what’s called “forcing a transaction.”

The result is a card that ends up looking like it went through the ringer a few times but apparently merchants are accepting these cards. The people who’s accounts the numbers match up to are left dumbfounded as to how their card information has been stolen because they still have their cards and no mail has been stolen from them…it’s a sheer case of dumb luck. And its taking off.

As a merchant, you can help customers by not accepting suspicious looking cards as well as cards with inoperable magnetic strips. This seems like common sense but the scammers tend to target low end small businesses where customer traffic is heavy. Just be sure you remain diligent and educate your employees to do the same.

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Consumers Wary of Customized Ads

April 17th, 2008

A recent survey conducted by Harris Interactive and Dr. Alan F. Westin Professor of Public Law and Government Emeritus at Columbia University showed that the majority (59%) of U.S. adults are uncomfortable with customized ads directed at them based on their web surfing habits. It doesn’t really surprise me either.

After all, have you ever been reading your GMail and glanced over at the ads down the side and noticed that the ads have been determined by scanning the content in your email? I’ll admit that when I first noticed that going on, it weirded me out a bit. It made me feel as though someone must be looking at my private emails! Apparently I’m not alone.

The survey goes on to report that more people would be slightly more comfortable with the practice if they were presented with a privacy policy first but not by a huge margin. From a consumers standpoint it does tend to send up some privacy red flags.

But as an advertiser, this type of focused strategy is enormously beneficial. It makes sure that the ads are far more targeted on the individual which saves the time and money of both the advertising business and the consumer. However, if the uneasiness remains, don’t be surprised if you see some battles ensue.

The question for business owners and advertisers (also being consumers themselves) will be: which side of the fence will you come down on?

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Posted in E-Commerce and E-Business, Marketing Your Business | No Comments »

Crazy Breakfast Making Cell Phones - Part II

April 16th, 2008

Okay, don’t freak…there was no Part I so don’t go looking for it. Well, there sort of was…this is simply an addendum to my previous post Oh So Textual! *Text Message Shopping Has Arrived*.

When you bought your cell phone did you ever imagine that one day it would allow you to pay for things? No seriously, your cell phone as a form of currency? Yeah, neither did I. But now you can. I know! It’s nuts!

Ok, so here’s how it works (courtesy StorefrontBacktalk.com):

Step 1: You download an applet on your phone. Said applet would be associated with a payment method, a password, and possibly another form of authentication.

Step 2: The retailer would have a piece of compatible software installed in their POS system.

Step 3: You shop in the store as you normally do, picking out items for purchase. When you’ve selected you bring your items to the cashier.

Step 4: The cashier scans the bar codes of your items and tells you the total.

Step 5: You enable the mobile payment app, type in your password, and punch in the exact amount of your total.

Step 6: If all goes well up to this point, the app will display a bar code that the cashier would then scan with the same bar code wand as they used to scan your products. The bar code would include the exact amount, a date/time stamp and expire within 60 seconds in case you want to abandon the purchase.

Here are some of the other things it would do:

And here’s the kicker for merchants:

Yeah…that’s awesome.

For the rest of the the StorefrontBacktalk.com article, including the reaction of the National Retail Federation and others click here.

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Hula Girls - The Original Organic Fashionistas

April 15th, 2008

Grab your coconut bras and grass skirts and jump on the organic textiles bandwagon! More and more retailers are beginning to cater to green fashion and it would appear that it’s more than just a fad.

The reason for this? One day not long ago some forward thinking entrepreneurs realized that people will spend bucket loads of money on fashion…so why wouldn’t people do the same for organic clothing as well? They looked around and said to themselves “the only organic clothes available look like burlap sacks!” “Ces’t tres horrible!” they gasped in unison, aghast at the utter disaster of the whole situation. And thus the organic fashion revolution began. (and this obviously happened in France because that’s where the best revolutions take place…at least in fashion, right? and I think Al Gore was there too…)

**note the above story is purely hypothetical in nature and should be regarded as mere imagination on my part as to how this whole thing began…but however it happened, it’s here.

Now companies such as Linda Loudermilk and Figleaves.com are selling$230 bamboo jeans and100% organic cotton undies for $28. While the prices may seem steep there appears to be a market for these items…and it’s growing.

So if you are a would-be entrepreneur looking for an idea, use this as a starting place. The market has scarcely been tapped and if you play your cards right you might just get in on the ground level of a phenomenal retail trend. Plus, with more and more people becoming interested in this niche, someone’s bound to come up with a new way to manufacture these goods for the masses…will it be you?

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Posted in In the News, Small Business Resources | No Comments »

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