To find the right wholesale products to sell as a dropshipper is not quite as simple as strolling through your local mall. Without certain ideas of where to start from, you may end up losing proposed profits or completely losing your capital.
There are some points that you’ll need to take into consideration when searching for wholesale products to add to your store’s inventory. These ideas will help you choose the best types of products that will definitely help you start making sales. Let’s go into details, starting with:
You need to figure out is which wholesale products will sell. Seeing as you can’t rely on your personal demands, the best way to determine what to sell is buy examining buyer behaviour through Market research. This can be done through the use of
Search Engines: such Google Keyword Planner, Yahoo Bing Keyword Search, Ubersuggest etc. If you search for “Dress shoes” these tools may suggest “Brogues” or “Oxfords” to help you narrow your search
Online Market Places: Once you’ve made a decision on what to sell, you can check what most people have bought from eBay and Amazon
Ads: You can run ads and polls on various social media platforms such as Facebook and Instagram to a selected target audience to know how well that item will be received
A lot of consumers shop online, so you can track buying behavior such as what they are looking for, where they buy, and how much they are willing to pay.
Here we will look at three main sections. The Upsell/Bonus value, Perceived value and Customer Encouragement.
The Upsell/Bonus Value: An “upsell” is a product you sell along with the initial product. Fastfood restaurants have perfected this by selling a plate of chips with a bottle of soda. You can sell a Phone and add a bonus of screen guard and phone casing at the checkout.
Perceived Value: It is best to sell an uncommon or peculiar product than something anyone can see while taking a trip to the mall. Like a neck Phone Holder or a Stainless steel straw. Since there is no perceived value of these items, you can set this item at a quite profitable price you want.
Customer Encouragement: The best wholesale products to add to your inventory are the ones were people cannot or prefer not to buy only one. You can purchase an uncommon item and set it at a reasonable price and people are more likely to load up their carts with 2 or 3 or such items, thereby increasing your profit.
Strong relationships with suppliers who can provide them with high-quality wholesale products at an affordable price point will be extremely necessary to achieve your goals. There are a few things you need to watch out for while choosing a supplier.
Firstly, you need a supplier who has a system in place for tracking inventory. A good system will allow you know the availability of wholesale products at all times. This will help to prevent dissatisfaction of customers through inability to deliver goods because they are out of stock even though they have already paid for the purchase. So you need to make sure an inventory monitoring system is in place and available to you.
I don’t need to tell you how important communication is as a dropshipper. The supplier needs to be easy to get in touch with. When dealing with a foreign company you need to take into account physical distance and language barriers because they can result in issues when it comes to coordinating deliveries and/or processing returns.
It is best to test a supplier before adding their products to your store. Make small purchases and check their delivery time and how the order is handled. You can have them deliver to different address just to be sure that they are not bogus and can handle orders in a professional manner. It might seem like a waste of time but it could end up saving you Time, Money and unnecessary headache in the long run.
You have to take into consideration not only the price of the product but other charges that will be incurred such as handling and delivery fees. You need to find the best deal you can get for your products because if your costs are too high, the profit margin may not be worth it. Luckily most wholesalers give discounts and other incentives for large orders.
There you have it! Above are some essential tips to help you choose the right wholesale products for dropshipping. For the success of your dropshipping and ecommerce business, choosing the ideal products are very essential. With the tips provided above, you can select the ideal wholesale products for dropshipping. Nonetheless, always ensure that you have everything in black and white before you commit to anything especially when it comes to wholesale products authenticity. Always authenticate the product before purchase.
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