If you’ve ever bought something online or shopped at Costco, you’ve interacted with the wholesale trade industry. This often invisible industry underpins both e-commerce and brick and mortar shops, and by necessity, it is a highly reliable industry for jobseekers. While wholesale trade is not expecting stratospheric growth in the coming decade, its modest employment growth projections and relative stability in the face of economic downturn have earned it a place on the top 10 best careers for employment prospects, with an expected growth of 2.7% in job opportunities by 2028.
Though 2019 is not expected to match the thrilling success of the wholesale industry in 2018, and despite the challenges posed by trade difficulties and projected economic slowdown, the outlook is still good for jobseekers in the wholesale trade industry. Wholesalers and jobseekers in the industry should ensure that they are up-to-date with modern technologies and have effective customer strategies to remain competitive. Wholesale is a safe bet with variable access to jobseekers of all qualifications and plenty of room for growth, but businesses must adapt and evolve to keep up with their monolithic competitors. Lensa has compiled some key insights into the industry to provide some clarity into this wide industry:
Key Insights in Wholesale Trade
- Customer is King. With industry giants dominating commerce, to stay competitive and either mitigate or capitalize on the “Amazon Effect” all businesses must remain vigilant and focused on the customer experience. This is especially important in wholesale trade, which must deliver both customer-focused services while retaining competitive speed and quality of product. Online presence and accessibility are essential in providing a service that will keep customers coming back, and industry workers must be prepared to deliver this experience without fail.
- Businesses must be tech-enabled to survive. While technology is revolutionizing all industries, small distributors have been slow to adapt to the new digital climate due to cost concerns and a lack of technological talent. To keep up in an Amazon world, even smaller distributors must move ahead with their tech stack, from something as simple as a website to more complex offerings like automation, data capture and utilization, and blockchain. Users expect constant and simple access, and wholesalers must keep up or suffer the consequences. On the bright side, there will likely be an increase in tech jobs for competent jobseekers in the wholesale trade industry.
- Global outlooks are not all doom and gloom. While trade conflict with China and the ever-looming Brexit have led to a cautious outlook in global wholesale trade, experts suggest that there are growing markets that could supplement the hit in our foreign trade relationships. Even so, business costs will likely rise on both sides of the equation, so wholesalers should be prepared to focus on cost-management strategies like lean distribution to mitigate any short-term effects.
Top Jobs in Wholesale Trade
Some wholesale jobs can be entered with a high school diploma, while more strategic or administrative roles may require a certificate or degree. In either case, there is plenty of opportunity for both entry and career growth in wholesale trade and it is a relatively recession-proof industry – particularly food and beverage wholesale. We’ve gathered the top related job titles for you to start your search:
Metro Area Trends
According to analysts, the areas of highest concentration in Wholesale Industry jobs are:
- Hialeah City, FL
- Palatine & Barrington, IL
- Carson City, CA
According to the same report, areas with the highest-paid Wholesale Industry jobs are:
- Arlington County, VA
- San Ramon City & Danville, CA
- Upper East Side, NY
Wholesale trade is a strong and stable industry for employment with relative ease of entry at present, making it a good time to make a career shift now before technological development makes career growth in wholesale more difficult to attain in the coming years.
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Blog post expiration date: March 1, 2020