Wholesale merchant

Wholesale merchant article illustration

Description

Wholesale merchants investigate potential wholesale buyers and suppliers and match their needs. They conclude trades involving large quantities of goods.

Other titles

The following job titles also refer to wholesale merchant:

graduate wholesale merchant
business to business sales consultant
senior wholesale merchant
assistant wholesale merchant
trader (wholesale)
business to business seller
wholesale buyer
B2B sales consultant
wholesale merchandiser
wholesale trader
wholesaler
trainee wholesale merchant

Minimum qualifications

A bachelor’s degree in business, marketing, finance, or a related field is generally the minimum required to work as a wholesale merchant.

ISCO skill level

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

  • the nature of the work performed in an occupation in relation to the characteristic tasks and duties
  • the level of formal education required for competent performance of the tasks and duties involved and
  • the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Wholesale merchant is a Skill level 3 occupation.

Wholesale merchant career path

Similar occupations

These occupations, although different, require a lot of knowledge and skills similar to wholesale merchant.

wholesale merchant in agricultural machinery and equipment
wholesale merchant in agricultural raw materials, seeds and animal feeds
wholesale merchant in beverages
wholesale merchant in chemical products
wholesale merchant in china and other glassware

Long term prospects

These occupations require some skills and knowledge of wholesale merchant. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of wholesale merchant with a significant experience and/or extensive training.

import export manager
distribution manager
import export manager in machinery, industrial equipment, ships and aircraft
technical sales representative
import export manager in china and other glassware

Essential knowledge and skills

Essential knowledge

This knowledge should be acquired through learning to fulfill the role of wholesale merchant.

  • Product comprehension: The offered products, their functionalities, properties and legal and regulatory requirements.
  • Sales strategies: The principles concerning customer behaviour and target markets with the aim of promotion and sales of a product or a service.

Essential skills and competences

These skills are necessary for the role of wholesale merchant.

  • Identify suppliers: Determine potential suppliers for further negotiation. Take into consideration aspects such as product quality, sustainability, local sourcing, seasonality and coverage of the area. Evaluate the likelihood of obtaining beneficial contracts and agreements with them.
  • Monitor international market performance: Continuously monitor the international market performance by staying up-to-date with trade media and trends.
  • Initiate contact with sellers: Identify sellers of commodities and establish contact.
  • Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
  • Negotiate sales contracts: Come to an agreement between commercial partners with a focus on terms and conditions, specifications, delivery time, price etc.
  • Comprehend financial business terminology: Grasp the meaning of basic financial concepts and terms used in businesses and financial institutions or organisations.
  • Assess supplier risks: Evaluate supplier performance in order to assess which suppliers do or may not perform adequately, stick to the agreed contracts, meet the standard requirements and desired quality at all times or who may pose future risks.
  • Show entrepreneurial spirit: demonstrate a proactive attitude and determination to achieve success in business
  • Initiate contact with buyers: Identify buyers of commodities and establish contact.
  • Have computer literacy: Utilise computers, IT equipment and modern day technology in an efficient way.
  • Identify new business opportunities: Pursue potential customers or products in order to generate additional sales and ensure growth.
  • Negotiate sale of commodities: Discuss client’s requirements for buying and selling commodities and negotiate their sale and purchase in order to obtain the most beneficial agreement.
  • Build business relationships: Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.
  • Plan transport operations: Plan mobility and transport for different departments in order to obtain the best possible movement of equipment and materials. Negotiate the best possible delivery rates. Compare different bids and select the most reliable and cost-effective bid.
  • Maintain financial records: Keep track of and finalise all formal documents representing the financial transactions of a business or project.
  • Negotiate buying conditions: Negotiate terms such as price, quantity, quality, and delivery terms with vendors and suppliers in order to ensure the most beneficial buying conditions.
  • Perform market research: Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

Optional knowledge and skills

Optional knowledge

This knowledge is sometimes, but not always, required for the role of wholesale merchant. However, mastering this knowledge allows you to have more opportunities for career development.

  • Metal and metal ore products: The offered metal and metal ore products, their functionalities, properties and legal and regulatory requirements.
  • Pharmaceutical products: The offered pharmaceutical products, their functionalities, properties and legal and regulatory requirements.
  • Chemical products: The offered chemical products, their functionalities, properties and legal and regulatory requirements.
  • Agricultural raw materials, seeds and animal feed products: The offered agricultural raw materials, seeds and animal feed products, their functionalities, properties and legal and regulatory requirements.
  • Textile industry machinery products: The offered textile industry machinery products, their functionalities, properties and legal and regulatory requirements.
  • E-procurement: The functioning and methods used to manage electronic purchases.
  • Waste management: The methods, materials and regulations used to collect, transport, treat and dispose of waste. This includes recycling and monitoring of waste disposal.
  • Sales activities: The supply of goods, sale of goods and the related financial aspects. The supply of goods entails the selection of goods, import and transfer. The financial aspect includes the processing of purchasing and sales invoices, payments etc. The sale of goods implies the proper presentation and positioning of the goods in the shop in terms of acessibility, promotion, light exposure.
  • Clothing and footwear products: The offered clothing and footwear products, their functionalities, properties and legal and regulatory requirements.
  • Electronic and telecommunication equipment: The offered electronic and telecommunication equipment and products, their functionalities, properties and legal and regulatory requirements.
  • Types of aircraft: The various types of aircraft, their functionalities, properties and legal and regulatory requirements.
  • Office equipment: The offered office machinery and equipment products, its functionalities, properties and legal and regulatory requirements.
  • Inventory management rules: The specific principles and techniques used in order to determine the appropriate level of inventory required.
  • Construction products: The offered construction materials, their functionalities, properties and legal and regulatory requirements.
  • Tobacco products: The varieties of products that can be manufactured using tobacco leaves as a base. The types of tobacco products which are smoked tobacco products, smokeless tobacco products, and byproducts of tobacco leaves.
  • Agricultural equipment: The offered agricultural machinery and equipment products, their functionalities, properties and legal and regulatory requirements.
  • Types of maritime vessels: Know a large variety of maritime vessels and their characteristics and specifications. Use that knowledge to ensure that all security, technical, and maintenance measures are taken into account in their supply.
  • Export control principles: The restrictions a country imposes on its exported products and goods.
  • Dairy and edible oil products: The offered dairy products and edible oil products, their functionalities, properties and legal and regulatory requirements.
  • Fish, crustacean and mollusc products: The offered fish, crustacean and mollusc products, their functionalities, properties and legal and regulatory requirements.
  • Sugar, chocolate and sugar confectionery products: The offered sugar, chocolate and sugar confectionery products, their functionalities, properties and legal and regulatory requirements.
  • Textile products, textile semi-finished products and raw materials: The offered textile products, textile semi-finished products and raw materials, their functionalities, properties and legal and regulatory requirements.
  • Machinery products: The offered machinery products their functionalities, properties and legal and regulatory requirements.
  • Hides, skins and leather products: The offered hides, skins and leather products, their functionalities, properties and legal and regulatory requirements.
  • Furniture, carpet and lighting equipment products: The offered furniture, carpet and lighting equipment products, their functionalities, properties and legal and regulatory requirements.
  • Meat and meat products: The offered meat and meat products, their properties and legal and regulatory requirements.
  • Hardware, plumbing and heating equipment products: The offered hardware, plumbing and heating equipment products, their functionalities, properties and legal and regulatory requirements.
  • Beverage products: The offered beverage products, their functionalities, properties and legal and regulatory requirements.
  • Computer equipment: The offered computers, computer peripheral equipment and software products, their functionalities, properties and legal and regulatory requirements.
  • Fruit and vegetable products: The offered fruit and vegetable products, their functionalities, properties and legal and regulatory requirements.
  • Electrical household appliances products: The offered electrical household appliances products, their functionalities, properties and legal and regulatory requirements.
  • Industrial tools: The tools and equipment used for industrial purposes, both power and hand tools, and their various uses.
  • Debt systems: The processes needed to obtain goods or services before payment and when a sum of money is owed or overdue.
  • Waste and scrap products: The offered waste and scrap products, their functionalities, properties and legal and regulatory requirements.
  • Watches and jewellery products: The offered watches and jewellery products, their functionalities, properties and legal and regulatory requirements.
  • Wood products: The various wood products such as lumber and furniture, their functionalities, properties and legal and regulatory requirements.
  • Perfume and cosmetic products: The offered perfume and cosmetic products, their functionalities, properties and legal and regulatory requirements.
  • Mining, construction and civil engineering machinery products: The offered mining, construction and civil engineering machinery products, their functionalities, properties and legal and regulatory requirements.
  • Supply chain principles: Characteristics, operations and resources involved in moving a product or service from supplier to the customer.
  • Commercial law: The legal regulations that govern a specific commercial activity.
  • Coffee, tea, cocoa and spice products: The offered coffee, tea, cocoa and spice products, their functionalities, properties and legal and regulatory requirements.
  • Office furniture products: The offered office furniture products, its functionalities, properties and legal and regulatory requirements.
  • Electronic communication: Data communication performed through digital means such as computers, telephone or e-mail.
  • Household products: The offered household products or goods, their functionalities, properties and legal and regulatory requirements.
  • Live animal products: The offered live animal products, their specificity and legal and regulatory requirements.
  • Flower and plant products: The offered flower and plant products, their functionalities, properties and legal and regulatory requirements.
  • Machine tools: The offered machine tools and products, their functionalities, properties and legal and regulatory requirements.
  • Glassware products: The offered china glassware and other glassware products such as cups and vases, their functionalities, properties and legal and regulatory requirements.

Optional skills and competences

These skills and competences are sometimes, but not always, required for the role of wholesale merchant. However, mastering these skills and competences allows you to have more opportunities for career development.

  • Maintain relationship with customers: Build a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and services and by supplying after-sales information and service.
  • Manage storage operations: Select and manage suitable storage area for the traded goods
  • Visit suppliers: Visit local or international suppliers to get an accurate understanding of their services and report back to clients on that basis.
  • Speak different languages: Master foreign languages to be able to communicate in one or more foreign languages.
  • Apply strategic thinking: Apply generation and effective application of business insights and possible opportunities, in order to achieve competitive business advantage on a long-term basis.
  • Meet deadlines: Ensure operative processes are finished at a previously agreed-upon time.
  • Handle cargo space on sale: handle cargo spaces on sale, which can include both buying and selling cargo space on ships for commodities handled.
  • Tolerate stress: Maintain a temperate mental state and effective performance under pressure or adverse circumstances.

ISCO group and title

3324 – Trade brokers


References
  1. Wholesale merchant – ESCO
  2. featured image: By star-one – https://www.flickr.com/photos/star-one/3411006005/sizes/l/, CC BY-SA 2.0
Last updated on January 4, 2023

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