Written by Katie Robinson
Once you come up with the products that you would like to sell on your online store, the next step should be identifying where you will be able to purchase your merchandise. This is because how well you can source for merchandise determines how flawlessly your online store is going to run. Well, it is good that you visited this page because we will give you the best strategies on sourcing merchandise for your online store.
So we kick off with the option of doing it yourself. This has been a model that’s been used by many business people where they get to craft their own products. Actually, with the advancement in technology, retailers can access millions of ideas on doing handmade products. The good thing with the DIY option is that start-up costs are favorable. However, there is a shortcoming with DIY because it requires much commitment, energy, and time. Some factors you must have in mind while working with this option are knowing where to ship the products from and the duration that you will take to come up with the product.
- Online Directory
There are several directories you can visit to get leads on where to source merchandise for your eCommerce store. These include Alibaba.com and ThomasNet.com, which give you access to thousands of supplier profiles and browsing capabilities for easy access to the specific suppliers you need.
In the business world, there are always expos and other business events where wholesalers get an opportunity to expose their wares to groups of retailers. From here, you can get in touch with the upcoming trends in the market as well as create networks with established wholesalers, manufacturers, and suppliers. Moreover, there are shows for most business categories, so it’s unlikely that you will lack one relating to the product you intend to sell. The fact that you are new in the market may leave you unaware of when such events occur, but you can always source the information from the existing e-commerce retailers.
- Sourcing a Manufacturer
Another option you could use other than making your own product would be hiring a manufacturer to make the product for you. This occurs in instances where you are not able to create the merchandise on your own. The advantage for this choice is ending up selling quality popular products without having to invest your energy on it. The downside of it is that you will need to part with a handsome amount of cash, unlike the DIY option. On this, you will need to link up with companies that can help in manufacturing the products you would like to sell.
One more thing you need to have in mind as a prospective online store owner is that there are plenty of fraudsters out there ready to exploit retailers that are new in e-commerce. With this in mind, you have to do your research well to come up with reliable wholesalers.