G.I. Jobs Latest Issues

JUL 2018

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28 G.I. JOBS | JULY 2018 | GIJOBS.COM GIJOBS.COM G.I. JOBS | JULY 2018 | 28 INDUSTRY INTEL WHOLESALE TRADE BY DAN SWANSON ALL ABOUT WHOLESALE Veterans work in every industry, including wholesale trade. But what is it? IF YOU'RE A VETERAN LOOKING FOR EMPLOYERS who will surely appreciate your military experience, the wholesale industry is worth a look. According to the U.S. Bureau of Labor Statistics, nearly 6 million people worked in the U.S. wholesale sector in April 2018, an industry that racked up $5.3 trillion in sales in 2016 and accounted for 5.9 percent of the Gross Domestic Product (GDP). YEAH, BUT WHAT IS WHOLESALE TRADE? Simply put, wholesale traders are companies that buy products from manufacturers and then sell them at low prices to retail stores or other wholesalers. There are different kinds of wholesalers, but merchant wholesalers are the most common. They buy the product, store it and then sell it to other businesses or consumers. The vast majority of these companies are small businesses that employ 20 people or less. The wholesale trade industry touches every product that consumers use daily. These days, wholesalers market to their customers by telephone, in-person marketing, and more increasingly through targeted paid media ads. Repeat customers are the bread and butter of this industry, so consistently bringing in quality customers is key. Like most any business, the end goal is to get product to consumers, and make a dollar or two along the way. HOW DO WHOLESALERS MAKE A BUCK? The basic premise of wholesaling is buy low, sell high. A great example is agriculture byproducts (aka food), where wholesalers will buy direct from farmers for a bulk price, and then sell to retail stores for a higher price. This helps the farmers, as they're able to move large quantities of

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