WHOLESALING Meaning and
Definition
-
Wholesaling refers to the business practice of purchasing goods or products in large quantities from manufacturers or suppliers and selling them to retailers or other businesses. It is a crucial part of the supply chain process that involves the distribution and sale of goods to meet market demand.
In this business model, wholesalers act as intermediaries between manufacturers and retailers, allowing manufacturers to focus on production while retailers benefit from the convenience of purchasing ready-made products in bulk. Wholesalers typically operate on a larger scale, serving multiple retailers or businesses at once.
Wholesaling involves various activities such as product sourcing, negotiating deals with manufacturers, managing inventory, warehousing, and transportation. Wholesalers often have established relationships with manufacturers and suppliers which enables them to obtain products at discounted prices or in special conditions. They add value to the supply chain by consolidating products from multiple manufacturers, providing a wide range of options to retailers.
Wholesaling is advantageous for both manufacturers and retailers. It allows manufacturers to reach a wider market and increase sales volume, while retailers benefit from the cost savings and convenience of ordering products in bulk. Additionally, wholesalers provide services like order fulfillment, product information, and customer support to retailers, facilitating a smooth and efficient supply chain.
Overall, wholesaling plays a vital role in the distribution and availability of goods, bridging the gap between manufacturers and retailers to ensure products reach the consumer market efficiently.
Common Misspellings for WHOLESALING
Etymology of WHOLESALING
The word "wholesaling" has derived from the noun "wholesale". The term "wholesale" originated in England in the 15th century and was initially spelled "hole sale". It comes from the Middle English phrase "hole sale" or "hool sale", which essentially means selling goods by the entire or large quantities. The word "hole" or "hool" came from the Old English word "hāl", meaning a whole or entire. Eventually, "hole sale" evolved into "wholesale", acquiring its current spelling and pronunciation by the 17th century. The verb form, "wholesaling", was created from the noun to represent the action or process of engaging in wholesale trade.
Similar spelling words for WHOLESALING
Infographic
Add the infographic to your website:
