There’s a new way to do wholesale on Shopify: Handshake. For many bar entrepreneurs, especially those already on Shopify, this is the perfect opportunity to expand their brands into the growing B2B marketplace. In fact, U.S. B2B eCommerce sales grew to $1.3 trillion last year, an 18.2% increase from 2018. With the launch of Handshake, the B2B buying and selling process has become easier than ever before for entrepreneurs looking to grow their business.
What is Handshake?
Handshake is an online wholesale marketplace built and operated by Shopify. It offers entrepreneurs and merchants the ability to sell their items wholesale to other brands, in addition to their existing direct-to-consumer retail efforts. Handshake upgrades the B2B selling process for brands by:
- Bringing new business to brands that sell wholesale
- Giving retailers access to a huge catalog of products from handpicked suppliers
- Connecting retailers with suppliers to create lasting, scalable relationships
- Providing a central platform that manages all the inventory, billing, and orders
Handshake aims to bring the B2C customer journey to B2B clients. Brands can set up customer-specific prices and tailor product catalogues based on customer needs, allowing for a high degree of customization. In addition, instead of using third-party marketplaces and paying commission fees, entrepreneurs can now handle these sales directly. Sellers can even send newsletters and offer promotions straight to their customers.
How Protein Bar Brands Can Leverage Handshake
Handshake is the perfect place for protein bar entrepreneurs looking to land new business. For innovators who want to sell wholesale, Handshake is 100% free to join and operate. There are no commission fees, meaning you can scale up your business without paying fees. Instead, you can reinvest your gains back into your brand and manufacture new nutritional products, such as plant-based protein bars, functional nut butters, and adaptogen cookie dough, with your protein bar co-packer to expand your catalogue.
Since Handshake handpicks their suppliers, you’ll have instant access to a curated selection of on-trend products that you can inspiration from. Right now, protein cookies are a big market share winner in the Consumer Packaged Goods industry. In fact, cookie brands have seen an overall 5.2% market share increase. With the rise of the health-conscious consumer, better-for-you cookies that have added nutrition, along with protein bars, are slowly penetrating the Shopify Handshake marketplace.
Not to mention, you can manage your entire wholesale business in the same ecosystem and backend as the rest of your business on Shopify. With Handshake, you will be able to create and grow your wholesale protein bar eCommerce store with easy access to all inventory, billing, and order information. This data, combined with insight from your B2C retail efforts, will empower you to make better-informed decisions with your protein bar co-packer on your future order quantities and popular formulations.
Handshake is the perfect place for protein bar entrepreneurs looking to either expand their business. Right now, the Handshake marketplace has a lot of space for food entrepreneurs. Agile brands will take advantage of this opportunity and become an early adopter to solidify their share of the $1.3 trillion B2B wholesale market.