You’ve probably heard about electric scooters, seen them around town, or ridden one yourself. But did you know you can make a business selling them online?
An electric scooter – sometimes called an e-scooter – is a lightweight and battery-powered scooter that people ride while standing up.
E-scooters are just like the non-electric scooters that children zip around on, except that adults use them, and they are powered by a battery, so riders don’t have to push the scooter around with their feet.
Owning an e-scooter makes people feel free. You no longer need to wait for public transit, and electric scooters are faster than walking.
E-scooter use is becoming more and more popular in urban centers. Low gas costs, insurance costs, and flexible parking options make e-scooters a trendy type of micro-mobility.
With Alibaba.com, you can start your own wholesale business online and sell electric scooters. This article will tell you exactly how.
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The e-scooter market made a whopping 1.2 billion USD worldwide in 2020 and is projected to grow exponentially by 2030 to 13.3 billion USD1.
E-scooters aren't the only profitable item. There are associated products that can make you a lucrative income, such as parts and batteries.
According to various product growth projections, electric scooters and their parts and batteries have excellent profit potential.
An example of associated scooter products is the lithium-ion battery, a popular battery used by electric scooters with a fast-growing market due to its low impact on the environment. The lithium-ion battery segment is expected to expand at a substantial Compound Annual Growth Rate (CAGR) of 10.4%2.
If you have been considering the benefits of selling wholesale scooters, electric bikes, batteries, parts, and products online and looking to learn how to do it, this guide is for you.
We will discuss the wholesale electric scooter industry and its potential in online selling. You will learn essential tips for selling online and how Alibaba.com supports your success in creating revenue for your e-scooter store.
Electric scooters are popular in Europe and the Americas. They recently started appearing in cities as an affordable means of transportation and an alternative to cars and motorcycles.
The global sale of electric scooters and electric bicycles should reach 129 million by 2028. Electric scooter revenue looks to rise by 21% by 2023, as experts foresee significant developments and surges in North America, Europe, and Latin America3.
The e-scooter market is growing at a tremendous rate. One reason for this is the expansion into new areas. Electric scooters and e-scooter sharing used to be a western concept confined to Latin America, North America, and Europe.
Now, countries like China and Singapore have also joined the e-scooter market, which may reach $200-300 billion USD in the US, $100-150 billion USD in Europe, and $30-50 billion USD in China4.
Worldwide demand for electric scooters and their various associated parts and products is quickly increasing. More customers in some European countries like Spain use electric scooters rather than cars or motorcycles.
This phenomenon will likely happen in the US and other countries soon.
People are simply switching to transportation that costs less and gives them more flexibility in terms of parking and where they can drive.
The world’s e-scooter market is taking off as more and more people decide to shift from private and public transport like cars and buses to scooter ownership and rentals.
Waiting for buses and being jostled on public transport is an unpleasant commute for many riders.
Paying for car and motorcycle maintenance, repairs, and insurance has caused consumers to reconsider their mode of transportation -- not to mention the high up-front costs of vehicles and motorcycles.
Scooters are very affordable, which makes them popular -- and profitable for sellers.
Imagine the money-making potential of your online store as you sell different brands and models of wholesale scooters, plus parts and batteries.
These days, it's important for customers to view your business as part of the solution to global problems. Consumers want a low carbon footprint and eco-friendly travel options.
Research published by various environmental groups shows that e-scooters are more environmentally friendly when compared to cars.
Because electric scooters and bicycles don't release pollutants, they're a wonderful option for someone who wants a small carbon footprint.
The worldwide e-scooter market is expected to rise as high as USD 41.98 billion by 2030, with a CAGR of 7.7%5.
The factors contributing to this increase in e-scooters are rapid urbanization, an increasing population of millennials who prefer e-scooters to cars, and increased interest in eco-travel.
A wholesale distributor is a business owner who buys finished products in bulk directly from the product manufacturers.
In various cases, the business owner redistributes the products to the retailers, their distributors, or the consumers. A wholesale business owner primarily distributes to the retailers and their distributors.
The profit-making concept behind wholesale selling is to buy popular, high-quality products at a lower price.
So, wholesale distributors buy products in high quantities in bulk, which lowers their costs. Then, they can make lower-price deals between product manufacturers and distributors.
Starting a wholesale business makes a lot of sense when you consider the revenue potential. This article has provided information to demonstrate that e-scooters are a fast-growing industry and viable product for a successful online business.
However, there's still more to consider when starting a wholesale business. After all, the marketplace is very competitive.
The worldwide crisis and its consequent lockdowns inspired many entrepreneurs to turn to the wholesale distribution business to make a profit while other companies struggled.
Here is a step-by-step guide to equip you with tips to become prosperous in the online electric scooter market.
Every business has competition, including the wholesale electric scooter business.
The good news is that every new seller can learn how to create a lucrative and rewarding business by researching their competitors -- what has worked and what hasn’t.
So, it’s essential to research and learn about what other sellers of the same product are doing.
You can gather information from highly successful sellers to study and emulate their processes. But, you can also learn from smaller sellers to determine what they could do better. Then, apply what your research has taught you to ensure your store’s success.
From the data you have gathered after doing your research, you can then brainstorm and develop a business plan for an online store that creates steady cash flow for you.
New wholesale business owners often make the mistake of dismissing the role that connections play.
Networking with people is essential to the wholesale industry.
Luckily, you can make meaningful connections for your wholesale business by attending virtual and in-person conferences and joining online communities through webinars.
Studying your target market to understand the demographics and optimize sales is crucial. Your target market consists of product manufacturers, retailers, and end-user customers.
Subscribing to different industries’ newsletters and blogs is an excellent way to build relationships. Blogs and newsletters provide you with the latest industry news and updates.
Also, it is helpful to study ads in online magazines, websites, and blogs. These ads can reveal the names of retailers and manufacturers looking for your products and services.
You can also use paid and organic ads to promote your business and reach a bigger customer base.
There are many basic business skills that you need to have to succeed in the wholesale business.
Some of the skills for e-commerce success include supply management, negotiation skills, marketing ability, teambuilding, and accounting.
These are skills that you can either learn yourself by taking various courses. Alternatively, you can choose to outsource these aspects to experts.
For example, you may choose to hire a marketer or marketing agency to promote your e-scooters and their associated parts.
While this is not a skill, it is a part of setting up your business: you may need to register your business and procure a wholesale license to comply with local business licensing regulations. Registering your business gives your store credibility.
Your budget plan should include money set aside for buying inventory -- in this case, electric scooters, batteries, or parts. You might also need to purchase equipment like a phone, printer, computer -- and don't forget internet costs.
Setting aside money for marketing is essential, as well.
You may choose to create and run your social media content by writing all of your posts and using graphics and video creation tools like Promo and Canva.
You will then need to set up a social content calendar to manage your accounts using software such as Hootsuite.
Running contests and promotions is a great way to get more attention to your store and reach more customers.
You can run ads on Instagram, Facebook, and other social platforms if you have an advertising budget. However, you may choose to hire someone else to create and run your advertising.
Once you can expand your business, your budget may also include employee salaries. You might need to hire an accountant, an assistant, or a wholesale business consultant.
You have now learned some basic facts, figures, and wholesale business basics in this article. However, you may be curious about the specifics of selling electric scooters online through a wholesale company.
Alibaba.com's website is an excellent resource for new and experienced wholesale business owners.
Selling scooters is a relatively simple process because there is already a large market for e-scooters, electric bikes, e-scooter batteries, and electric scooter parts.
You already have a large group of customers and many retailers and distributors who want your product.
So, here are four tips for wholesaling e-scooters online:
Being a B2B success story means staying on top of wholesaling trends. Monitoring trends and selling wholesale products online is made easier by platforms like Alibaba.com.
Since B2B e-commerce is projected to become 17% of all B2B sales in the US by 2023 and reach $1.8 USD trillion, it is worth considering becoming a part of an existing platform that has proven useful for millions of buyers and sellers alike.
On a platform with so many users, an e-scooter wholesale store owner can easily access information about how other sellers set up and promote their businesses and gain insights into how and what buyers order.
To be successful, you must cultivate great relationships with your customers so that they return to do business with you again and again.
So, you must provide excellent customer service to keep people coming back. A fantastic way to achieve this is by paying close attention to your customer's needs and then meeting those needs.
For example, your e-scooter retailer customers may likely require fast shipments to keep their customers satisfied.
You can achieve this by ensuring you are always careful to provide detail-oriented service and opportunities for feedback.
Reach out to your customers after your e-scooters reach them with a courtesy message that includes a link to FAQs or a customer service page. These simple acts show that you care about their satisfaction.
Inventory management is essential to running a successful B2B electric scooter business.
If you lack proper inventory management, you could waste a lot of money if some of your products, like e-scooters, batteries, or associated parts, go to waste because of overfilling.
On the other hand, if your inventory is well-organized, you will have a proper system to maintain a minimal, as-needed supply.
In this case, you would not have to pay extra for storing too much stock in a warehouse. And, you will have the correct information to know when to restock and how many more products you need without waste, which increases your profit.
An essential rule when selling e-scooters wholesale is not to overextend credit to your customers.
While a flexible and friendly relationship with your B2B clients is key to your company’s success, you must also ensure that your cash flow is not affected.
If you overextend credit and your cash flow is affected, you could fall into debt. Knowledge of finance, accounting, and good negotiation skills are necessary for wholesaling.
Imagine a situation where you over-extend credit to a customer, and your manufacturer asks for payment. You don’t have the money, and your company is in trouble.
On the other hand, if you have a good relationship with a retailer customer who has a solid history of paying on time, proving their reliability, you can offer some credit and discounts.
A wholesale e-scooter business creates a desirable work-life balance, as you enjoy flexible work hours as the business owner.
Some studies show that wholesale business owners only work around 20 hours per week while they sit back and watch the orders roll in.
Alibaba.com is one of the biggest B2B wholesale marketplaces in the world.
This e-commerce platform has helped sellers worldwide create lucrative businesses since 1999 – over 20 years of success.
Alibaba.com also offers an end-to-end suite of tools built for B2B.
Customers can discover your wholesale scooter business online, and you’ll see more sales with tools that show analytics, and customer data, create a custom digital storefront, do target advertising, and more.
This platform also offers professional services with a team of experts to guide you through every step of setting up your store and assist you in defining a simple roadmap to making a steady income stream.
You may want to explore the large variety of electric scooters on Alibaba.com. Check out the different brands and models!
Are you ready for wholesale business success? Start selling on Alibaba.com. Open a seller account now.