3 reasons why the digitization of B2B wholesale is changing the future of retail

The opinions expressed by entrepreneurs contributors are their own.

Most people wouldn't think wholesale has much to do with the shopping experience we all know and love today. But wholesale is actually where the innovation should be shared. The best way to understand why is to learn from someone on the inside. In the 1990s, Kristin Savilia was introduced to the fashion world as a buyer for Macy's.

More than 20 years later, she's back in the world of fashion wholesale. Except this time, she's in charge of digitizing the entire buying and selling process. What does this have to do with the future of retail? There are three major trends that, through technology and innovation, can tell us a lot about the side effects of digitalization downstream.

Related: The Future of the Digital Store in Retail

Data comes first

If you are a wholesaler and your assortment is wrong, it doesn't matter how nice your website is. Investing in digital transformation upstream brings better results on the side. It lets you go from working in silos to connecting with brands from all over the world. Just as consumers make better buying decisions when we can compare products from hundreds of brands by price, material, size options, etc., retailers need the exact same thing to bring those same products to the consumer. final.

In the future, successful businesses will be those with the strongest data to inform them about exactly what to offer in the retail space. However, traveling from salon to salon armed with a simple spreadsheet will simply not be enough.

Related: How to Use the Right Data to Make Effective Business Decisions

Transactional relationships are out of fashion

Kristin and I agreed that the stakes for online success were changing. Today, making the sale is just the beginning. For lasting value, winning companies will need to go to the source of customer demands. The industry is good at pointing out issues, but the real challenge is solving the most important issues.

For example, the growing demand for sustainable products presents an opportunity for companies to innovate and solve a problem that customers really care about. In the fiery rivalry between and , one distinction stands out. Adidas, unlike Nike, has been recognized as a forerunner in the field of sustainability, making environmental responsibility a key brand value. But how do you practically approach something on this scale? So many brands and retailers promise to reduce carbon emissions and increase the supply of sustainable products, but how?

The only way to gauge whether you're on the right track or not is to know before the product hits your floor that it's sustainable. Once in your stores, it is too late. You need to understand what percentage of your product offering is moving the needle when you are placing orders. Kristin has made it a priority at Joor to give B2B buyers visibility into the sustainability of their assortment and the ability to easily make adjustments to meet their goals.

Related: Success is good, but don't forget to embrace sustainability

It's time to say goodbye to silver bullets

E-commerce is only good if you know your customers well. You need to know where they want to be and how to get them there, in the easiest way possible. For some, it might sound like "buy now, pay later" at checkout. For others, it may mean delivery updates sent via SMS. And while it might not be the same thing, there's one thing that will probably always be true: you'll need a bit of everything.

By now, we've all seen e-commerce trends come and go. Direct-to-consumer (DTC) was supposed to replace B2B. We were all going to leave the brick and mortar in the dust. But the truth is that the future will be hybrid. No buyer and no consumption...