IMPORTING WHOLESALER Meaning and
Definition
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An importing wholesaler is a type of distributor or merchant that primarily engages in the purchase and trade of goods from foreign countries to supply them to domestic retailers or other wholesalers. This entity plays a crucial role in international trade, acting as an intermediary between foreign manufacturers or suppliers and the domestic market.
The core function of an importing wholesaler is to carefully select and import a wide range of products from various overseas sources. These products can include anything from consumer goods and manufactured products to industrial equipment or raw materials. The importing wholesaler must have a deep understanding of international trade regulations, customs procedures, and market demand in order to source and import goods efficiently.
These wholesalers typically establish relationships with foreign suppliers or manufacturers through comprehensive research, negotiations, and contracts. They manage the logistics of shipping, handling, and clearing customs to get the imported goods safely and legally into the domestic market. Once the goods reach the local market, importing wholesalers often store the products in their own warehouses before distributing them to retailers or other wholesalers.
Importing wholesalers play a critical role in the supply chain as they efficiently bridge the gap between international suppliers and domestic sellers. By providing a wide range of imported goods to domestic markets, they contribute to the availability of diverse products for consumers and support the growth of domestic retail businesses.
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Etymology of IMPORTING WHOLESALER
The term "importing wholesaler" consists of two main components - "importing" and "wholesaler".
1. Import: The word "import" can be traced back to the Latin word "importare", which means "bring in", "convey", or "lay on". It entered the English language in the 15th century and referred to the act of bringing in goods or services from another country for trade or sale.
2. Wholesaler: The term "wholesaler" emerged in the 16th century and comes from the word "wholesale". "Wholesale" originally meant "the sale of goods in large quantities" and was derived from the Old French word "holsale", which combined "hol" (whole) and "saler" (to sell).
