Report Finds Wholesale Is Undergoing A Technology Revolution
By Christine Kern, contributing writer
The wholesale distribution industry is changing the way it sells and delivers products — and technology is at the center of the change — according to a new report from Handshake.
B2B companies are feeling the pressure to keep up with consumers, Handshake reports in its 2015 Wholesale Technology & Sales Report. The report highlights a shift in technology investments to front-end sales processes, and the need for improvements in operational efficiency.
Glen Coates, CEO of Handshake, stated in a press release, “Our report — the first of its kind — takes a closer look at how rapid-fire advancements in consumer technology are seeping into the business world, and how manufacturers and distributors are making more investments in efficiency, sales enablement, and customer experiences.”
The study polled 410 executives, managers, and individual contributors from companies self-designated as wholesale distributors across over a dozen industries, including industrial manufacturing, gift and homewares, food and beverage, accessories, apparel, beauty and cosmetics, medical instruments, and sporting goods.
The chief pain point reported by wholesalers was order writing inefficiencies, followed by limited access to accurate information. Wholesalers are now adopting digital solutions for sales teams to boost their effectiveness and increase order volumes in order to address these challenges.
Better preparation for customer meetings is also becoming a big priority for businesses, when they meet with customers that expect a more consumer-like buying experience.
“Those who aren’t planning on making these investments in the next 12 months must consider it now or risk falling behind competitors,” said Coates. “For those who currently have a solution in place, prioritizing retailer adoption of this technology is key to reducing order processing costs, driving revenue, and increasing profitability.”