How often do you do your groceries? Majority of the Malaysians make their groceries weekly. With the high competitions among grocery stores, there are countless options and good deals for the consumers. However, there is still a gap between retail pricing after discounts and wholesale pricing.
Wholesale pricing is cheaper is because the wholesalers purchase from the manufacturers in very large volume, and then sell in smaller quantities (perhaps by the box or by the case) to retailers (e.g. supermarkets), that in turn sell to consumers in small quantities.
Retailers like AEON and Jaya Grocers not only sell the products to consumers. They are also responsible to do the last quality control to ensure consumers are satisfied. Besides, they provide consumers a safe and comfortable shopping environment, with the strong centralised air-conditioner, ample parking spaces, tidy shelves and clear signage. All of this costs money and is reflected in the retail price.
Nicholas Tee grew up in a family running an FMCG Wholesaler & Distributor business. Noticing the price gap between wholesale and retail, a thought popped up in his mind, “We consume many grocery items on a daily basis, why don’t we just buy it in bulk to enjoy greater savings?”
Yet, wholesale shopping is not quite common in Malaysia. We don’t have big chained warehouse retailers like Costco. Even though some physical retailers offer customers wholesale options, the minimum order quantity (MOQ) is very high, and it generally requires manpower to transport the goods.
Hence, Nicholas came up with the idea of building an online wholesale shopping website. With the support of his parents, who owned an FMCG Wholesale business for more than two decades, in 2018, Nicholas introduced Bulky within 4 months of planning and preparation.
I managed to convince my family to transform the existing traditional supply value chain into a performance driven and cost-effective model which is backed by the latest technology by creating BULKY.”
Currently, the platform has close to 200 brands with more than 2000 of Stock Keeping Units (SKUs) from six key grocery categories with 41 sub-categories. With BULKY, consumers are able to access to cheaper prices at a relatively low MOQ.
The MOQ is set based on customers’ price acceptance level and buying behaviour which is derived from the data and market insights. Having said that, consumers can choose from the available MOQ with some orders set at just one unit. As the number of units of a particular product that you are buying increases, the price will drop. You’ll get more discounts by ordering more.
We believe wholesale should not just be limited to businesses only, but also for any individual or household consumer who are seeking for bargain offers to save on their spending.”
Moreover, as BULKY is an e-commerce based business, consumers don’t need to worry that they couldn’t transport the goods home at a lump sum, because all the orders will be sent to your doorstep. This is good news especially for bigger families which consume more groceries.
BULKY is not just innovating and transforming the traditional business model of their family business but is also trying to ease consumers’ life.
BULKY has joined ZOM-IN to collaborate in efforts to empower aspiring youths. Join us now at www.zom-in.com to participate in exciting events coming soon!