The Ultimate Reseller Sourcing Guide
Finding inventory that you can sell online and make money can be a challenging task for beginners. Numerous resellers believe that you have to spend a lot of money to get quality products that will sell fast on any multivendor marketplace platform. This is not true. In our reseller sourcing guide, you will find out just how easy it is to source quality products for a low price and then use a crossposting tool to sell them quickly and make a profit.
First Step in Our Reseller Sourcing Guide - Try to Obtain an Inventory by Sourcing Online
So, what is online sourcing? Save time and money by first obtaining some of the unique items online. Purchasing from online stores will allow you to stumble upon an item that you wouldn't be able to find elsewhere. It's a great way to buy in bulk, so you would obtain more inventory than by going directly to the shop. Also, you'd have an opportunity to source brands that are not from your area. If you want to source vintage clothing online, use liquidation and wholesale companies, so you grow your e-commerce business quickly.
A Reseller Needs to Research Before Sourcing Inventory Online
A reseller needs to be careful before purchasing any products to make sure not to lose money on various online frauds. What one can do is thoroughly research and read the terms and conditions on online sites as well as the complete description of the pallet or box. Watching YouTube videos about reselling or reading customer reviews can also help one obtain inventory.
Source Wisely - Sales and Codes Can Help You
Before trying out online sourcing for resellers, you can ask other resellers about potential affiliate codes. These codes can help you save as much as 20% on particular items. This is especially great when you need to save a bit of money you would otherwise need to spend on shipping. Additionally, sales are a wonderful opportunity to buy items out of season. Clothing resellers can save money by buying clothing that is on clearance because they are out of season.
Retail Clearance and Sales - Find an Authentic Item for a Low Price
Check out your local retail stores like Walmart or Target. They usually have different products on sale or clearance, so you would be able to buy something unique for a low price that was once priced high. Bear in mind that you should always research price drops of products so you can purchase something for the lowest price possible. If you'll be reselling these products on an online marketplace platform like eBay, Shopify, Depop, or Vinted, you need to price them appropriately so that you make a profit.
Go to a Thrift Store and Buy Cheap Items for Resale
Thrifting has always been resellers' number one option when shopping for their inventory. It is a great way to find dirt-cheap hidden gems. Almost all items in a thrift store are priced low, but they can be sold for much more. On eBay and Etsy, customers search for antique pieces that cannot be found easily and they are prepared to pay a high price. A second-hand market is also a place where you can buy trendy clothes and luxury brands for a song so you can sell on Depop.
Also, in case you use software to sell both on eBay and Depop, you'd increase your chances of making a profit. Make sure that you check out the local thrift store and find products that are suitable for you and that will make your e-commerce business successful.
Here is a video that might help with finding second-hand products in thrift stores.
Pro Tip - Track Monthly Expenses and Be Miles Ahead of Your Competition
It's crucial to know how much you are spending every month on the items you purchase and how much you earn on a particular marketplace platform. This is especially essential for new resellers. It is the only way you can track down any serious problems with your shop and where you can cut down expenses.
What is more, you'll be able to recognize what type of sourcing method works best for your business. Online selling tools would be of great help since they keep an inventory of everything that got sold and that is still listed. Reliable software for selling online will allow you to know what you shouldn't spend funds on and what can improve your business.
Finally, Resellers Can Check Out the Bin Stores for Some Incredible Goods
Returned products from Amazon get purchased by bin store owners that allow shoppers to browse through them and pay for them at a low price. The boxes full of different goods are all priced the same. This is a good way to find quality items for a low price. The bin stores decide on one day of the week when they will offer the new Amazon items. Every day the bin store has a different price for the goods. For instance:
- Thursday - $6,
- Friday - $5,
- Saturday - $4,
- Sunday - $1.
The type of products that are found in bin stores are lamps, coffeemakers, clothing, cookware, doorbell cameras, board games, Christmas lights, and cosplay costumes. If you own an eBay or Etsy shop, bin stores are a place where you'd find unique pieces.
Once You Have a Good Inventory, Use a Crosslisting Software to Control Orders
When you obtain all goods for your shop via second-hand sources, online sourcing, bin, and thrift stores, you should know how to promote them to potential customers. Multichannel listing software like Zipsale will enable you to keep your business in check. From features such as auto-delisting sold listings and an inventory with all sold and listed products, this crossposting software is necessary for success. Obtaining and reselling will become much easier when you know what sells well with the help of the crossposting tool. Register with Zipsale today so you can immediately start improving your shop.