I have a novelty product that I will soon be selling on my website at
the retail cost.I notice that a lot of companies like joke shops carry
many of the same products(same manufacturer).What would be the
best(cost effective) way for me to let all of the joke shops know that
a hot new product is available for wholesale?Also what is the most
cost effective way to promote my site for retail sales?Are press
releases effective?

Many sellers on eBay, Yahoo, and iOffer are actively seeking new
wholesalers and would be interested in at least sampling your product.
Try a sample-lot auction listing of say, a dozen units to spark
interest. This is also a good way to get your price-list and some pics
in front of thousands of potential resellers.
 Press releases do work, quite well in fact, and the more popular
sites allow you to target both geographically and by genre.
 Keep the always popular Wholesale Directories in mind, as well.
Sold in both hard-copy and eBook forms, these are a great way to get
noticed as a new wholesaler.
JB.
PopsGifts.com