4 Ambitions for Wholesale Distributors to Achieve
Circle Research interviewed 800 senior decision makers in small and medium-sized enterprises with up to 1,000 people to find out more about their ambitions and business priorities. In this summary, we focus on the ambitions and goals of wholesale distributors.
4 Ambitions Wholesale Distributors Want to Achieve
The research focuses on four ambitions. These are, in order of priority for wholesale distributors:
- Growth (47%)
- Customer success (24%)
- Business improvement (24%)
- Improving society (4%).
1) Achieving growth (47%)
The main growth priorities for wholesale distributors are growing revenue (64%) and increasing profitability (64%).
Of less importance, are expanding into new territories (43%), introducing new products and services (42%), and expanding into new business premises (33%).
2) Customer success (24%)
Achieving optimal customer satisfaction (63%) and delivering on time and to standard (62%) are the highest priorities in this category.
Growing the customer base is also important with 58% while winning awards and accolades is of very low importance with 19%.
3) Business improvement (24%)
All of the five goals within this category are a high priority for between 47% and 52% of wholesale distributors. Responding to changing market conditions is top, followed by employee efficiency, and then streamlining business processes. Improving supply chain efficiencies and reducing the cost base are at the bottom.
4) Societal improvement (4%)
Societal improvement is the lowest priority for SME wholesale distributors, with only 4%. For those wholesale distributors that do want to improve society, improving employees’ lives is the main focus (32%) followed by building excellent corporate social responsibility (21%). Only 8% want to contribute to charitable causes.
Are Wholesale Distributors SMEs Ready To Realize Growth?
According to the survey, wholesale distributors have a significant way to go before they will be ready to achieve their main growth ambition. One of the main enablers for them will be penetrating new geographies – a high priority for 43% of wholesale distributors.
84% will be looking to connectivity software applications to help them to achieve their business goals and 72% will be looking to cloud solutions to help them.
Find out how Third Wave can help you achieve your business goals. Contact us now!
