Therefore, vape wholesale online services have greatly helped businesses involved in the vape industry to thrive. The vaping market globally is going to see growth at a CAGR of 23.8% and reach a valuation of around $74.5 billion by the year 2027. Since buying directly from these wholesale suppliers, the owners have the option of buying items for bulk prices since that way their margin will also be greater.
A large deal availed from a vape wholesale online can ensure access to exclusive brands or products that one will not find with ordinary retail outlets. According to the study from IBISWorld, 70% of all vape businesses using wholesale suppliers reported an increase in the variety of products after switching onto online wholesale suppliers; they also saw significant customer satisfaction increase. For example, vape stores that stock rare e-liquid brands tend to attract niche customers, and that means a pretty significant increase in foot traffic and sales.
A very good example is the popular chain of vape stores named “VapeX”, which reported a revenue increase of 40% after switching to buying from a vape wholesale online platform. They not only saved money by the reduced cost per unit when buying in bulk but also by reducing how often they had to restock products, thus creating a very stable supply of their products. This stable inventory allowed VapeX to increase their sales by offering a wider range of products that customers could not find elsewhere, which contributed to their expansion into two new locations.
Online wholesale platforms also offer flexibility in the volume of the order, important for scaling businesses. Be it a business starting or one that has already expanded, these platforms have options for scalable purchases. During slow seasons, retailers can order smaller quantities and scale up in peak times without minimum order constraints binding them. Indeed, according to a study conducted by Vape Business News, 60% of vape retailers find this scalability very important to regulate cash flow and respond to market trends.
Additionally, vape product wholesale purchases made online can significantly reduce operational costs. In a study conducted in 2022 by the National Vape Retailers Association, it was determined that companies that purchased their stock online reduced supply chain costs by 25%, primarily influenced by a reduction in shipping costs and discounts from bulk orders. This can be reinvested into other areas of the business, such as marketing, customer service, or expansion of product lines, thus growing the business.
According to Gary Smith, the CEO of one of the major vape distributors, “Buying in bulk and from reputable online wholesalers can have a business operating better, grow profitability, and most importantly, provide consumers with quality products at competitive prices.” His insight doesn’t show just that; it’s a fact that such an increased momentum is growing of more businesses seeking a competitive advantage through a wholesale model.
Therefore, will vape wholesale online help in scaling your business? The answer to that is absolute yes. With lowered costs, access to exclusive products, scaling, and a potential increase in profitability, purchasing from vape wholesale online suppliers will no doubt offer the tools to scale your business. If you want to find a reliable platform where you can purchase products in bulk, take a look at one of these vape wholesale online services that will support your growth strategy.