You have probably seen the two words wholesale and retail all throughout your life on many kinds of advertisements whether it be on commercials, signs, billboards, etc. Wholesale and retail are two terms that apply to a wide range of businesses including hospitality. Even though you may have heard of these terms before, they are two very broad words that have a lot of information and more specific details that you may not have thought of recently. Properties are continually ordering hospitality products to keep their businesses moving, but people are also buying hospitality products for personal use. This blog will explain the differences between wholesale and retail purchases.
Wholesale
Wholesale products are usually produced by manufacturers or distributors and are typically sold to businesses in large quantities. The advantage for the customers is that their large orders usually give them a price discount because the orders are much bigger than retail orders. The main users of wholesale products will be customers who are buying in bulk from a business-to-business model as compared to a business-to-consumer method. Many wholesale products bought by customers at InnStyle include sheets, towels, and amenities.
Retail
Retail is a business model that focuses on selling products or services directly to customers for individual use. Businesses with a retail-oriented sales model generally work with the manufacturers and the end consumer. Retail products are bought in bulk from the supplier at a discounted rate and then are sold in retail stores or online directly to the consumer at a higher markup. One of the most popular retail products offered at InnStyle is the InnStyle 600 Wrinkle Free Sheets. Many customers sleep on these sheets on the beds of hospitality properties they are staying at and either wants to buy them for personal use or as a gift for others.
Benefits of Wholesale Products
Money Saved
The number one benefit of purchasing wholesale products is the money saved for your business. As previously mentioned, larger orders allow businesses to offer them to you at a reduced price since you are placing a much larger order than what retail customers would be requesting. Larger wholesale orders, usually at least a pallet, can come with the added luxury of reduced shipping expenses. In theory, the larger orders also mean you should be placing orders less frequently, which would save money on shipping.
Good Product Selection
Companies that buy wholesale will begin to realize that many of these suppliers have a large selection of all different kinds of products to choose from. This is good for the customer because they can order many of their products, all from one business. Time is saved by not having to shop in different places for different products, and larger orders can mean bigger discounts. That is why InnStyle prides itself on being a one-stop-shop for the lodging industry by offering a wide range of hospitality products to choose from.
Hospitality vs Personal Use Products
Commercial products specifically designed for the hospitality industry will look very similar compared to products made for someone’s personal home, but they will have their differences. Hospitality products will be designed to last longer and be more durable because they are expected to be used and laundered more frequently compared to personal products. Hospitality products will also launder easier, have a lower likelihood of being discontinued, and usually be offered in a larger size and at a reduced price. They are also usually available with more neutral color options, typically white or cream because they are designed for businesses while retail products may be available in a wider variety of colors and designs.
Tips for Wholesale Customers
It is always important to plan for future orders. This is especially true for wholesale customers because their orders can be larger and need additional time to prepare everything they have requested. Supply chain and availability issues can occur and this became paramount during the pandemic when products were delayed for weeks and months with ships getting clogged up in ports and on the ocean. That is why it is crucial to know what you will need as early as possible to give more time, prepare for potential delays, and hopefully reduce stress.
InnStyle Offers Both Wholesale and Retail Products
InnStyle offers a wide selection of hospitality products that can be purchased at both wholesale and retail prices depending on the usage. Customers such as rental properties, inns, bed and breakfasts, and cabins that are running as a hospitality business would buy wholesale products since there will be larger orders catering to the needs of their guests. Retail customers can also purchase those same products, but they are usually just buying it for themselves or as a gift for a friend. InnStyle offers a large selection of hospitality products including bedding, towels, amenities, lodging accessories, dining linens, etc. Please give InnStyle a call and speak with their account managers about any hospitality questions you may have or products that you may be interested in ordering. InnStyle can be reached at 267-354-6020 or 800-877-4667. Their website is https://www.innstyle.com/.