Making money online is easier than ever, and online selling (e-commerce) has become popular worldwide. From people with well-established physical stores to individuals starting their e-commerce journey, online selling makes business easy for everyone. Especially, a large number of people are opting for dropshipping to reap the benefits of e-commerce.
However, one important question regarding online selling is, “How do I find the right products for my business?”
People also often ask, “I want my products to sell like hotcakes. How do you find suppliers with high-quality items?”
Finding the right products and a reputed seller are undoubtedly essential yet challenging aspects of selling products online. They help you stand out among other sellers who ignore the importance of in-demand products and credible sellers.
Today, we’ll focus on a crucial element of e-commerce that can make or break your online store: sourcing products efficiently. Read the article till the end to explore all the important aspects of finding and sourcing profitable products.
Finding the right products isn’t just about filling shelves; it’s about crafting an experience, building customer trust, and differentiating your brand. Whether starting fresh or scaling up, unlocking the secrets to successful product sourcing is critical. Buckle up as we navigate the complexities of stocking your inventory like a pro!
Dropshipping Supplier
Before we jump into the details of finding the right products for your online store, here’s a quick recap of what dropshipping is:
“Dropshipping is a low-risk model where you sell products that the supplier directly ships to your customer. This means no upfront inventory costs and no need for a storage space. It’s ideal for testing new product ideas.”
In simple words, dropshipping is a type of online selling in which you do not have to keep the products with you. Instead, you can ask your supplier to send the required product to the buyer directly. Usually, this process is automated to improve efficiency.
Some of the primary benefits of dropshipping include:
- No inventory management
- Direct shipping
- Low risk
- Market testing
So, these suppliers who facilitate dropshipping are called dropshipping suppliers. While you can find dropshipping suppliers worldwide, China is the most popular region. A large number of online sellers dropship their products globally from China. This includes white-label and private-label products alike. Apart from selling existing products, some individuals or companies rent warehouses in China that dropship products.
Alternatively, dropshipping agencies like Wefulfil with supply chain solutions across China and Australia can help.
Wholesale Suppliers
The other type of supplier you can use to get the products you want are wholesale suppliers. Wholesale suppliers sell in bulk and offer better prices. However, this also means you must find space to keep the products you buy. So, unlike dropshipping suppliers, wholesale suppliers do not send your products directly to the buyer.
Wholesale suppliers can be a better option for people with a loyal customer base and high demand for particular products. You do not have to worry about the invested money when the products sell fast. Moreover, getting the products at lower rates reduces the overall expense.
The key here is to build a strong relationship with reliable suppliers offering quality products and timely delivery. This is important because sometimes suppliers fail to deliver the new stock on time, and your customers may move to another store offering faster service.
Direct from Manufacturers
If you’re looking for something that offers you complete control over the products you offer, sourcing directly from manufacturers is a suitable option. This method allows you to customize products, ensuring they perfectly align with your brand vision. However, this requires a significant commitment and understanding of product design and manufacturing processes.
You must contact the manufacturer regarding any changes, packaging design, and product transport. If you wish to sell from the same region, you’ll also need to keep the inventory safe in a warehouse. While this is cost-effective, offers customization, and gives you complete control, it also requires more effort and time to oversee the process.
Trade Shows
New sellers are typically not aware of the power of trade shows. But you must dive into this foolproof method of finding a reliable supplier for your online store. It is especially useful to people who wish to establish a company and are willing to travel to other countries for research. If not, you must have sources from the country of origin (e.g., China) to find suppliers via trade shows.
Trade shows provide a fantastic opportunity to network with suppliers and get exclusive deals. They also offer a first-hand look at emerging trends and competing products. When visiting a trade show to find a supplier, you must know what you’re looking for and be ready to negotiate.
Trade shows also give you an insight into a particular seller’s reputation in the market when you meet other businesspeople. Thus, you can be more confident about your decision and choose the best supplier for your needs.
Crafting Your Own Products
While you can get products from a manufacturer, you can also get unique products made to your design and specifications. This option is more suitable when you have a unique product or wish to introduce a more efficient design. You can also get products manufactured yourself if you can create low-cost copies of an existing product; ensure that the quality matches the competitors so you maintain a returning customer base. The low price will attract buyers, but the high quality will keep them coming back every time.
Creating your products is perhaps the most personal method of sourcing. This sets your brand apart and appeals to customers looking for unique, handmade items. However, scale and consistency can be challenging, so it’s crucial to streamline your production processes. Failure to offer consistent quality or supply to the customers can lead to significant losses. You might lose money as well as a loyal customer base.
Conclusion
If you’re stepping into the world of online selling, sourcing high-quality products from credible suppliers is one of the fundamental worries of a successful business. This article has covered various methods today, each with its unique advantages and challenges. The key is to align your sourcing strategy with your business goals and market demand. You can get a dropshipping or wholesale supplier, get products directly from manufacturers, find suppliers in trade shows, or manufacture your own products. Each method of getting products for your online store is more suitable for a particular kind of business, and you must pick the one that suits you the most.
FAQs
How to find the right product to sell?
When finding products for your online store, research competitors on social media to find their top-performing products from which to take inspiration. Moreover, focus on one (or a few) niches at one time to establish authority and become the first choice among customers. Use Google Trends to find and leverage recent trends before they die.
What is in demand right now?
While the demanded products may differ depending on the region and audience you want to target fashion and accessories are always trending. The latest choices among customers may vary, like boho jewellery, Pinteresty accessories, traditional jewellery, etc., but you’ll typically find people buying clothes and jewellery throughout the year. At the same time, pet supplies, baby clothes and toys, and phone accessories are popular.
How do I find products for my store?
AliExpress and CJDropshipping are among the most popular and widely used sources for finding products for online stores. They have different categories, such as best-selling products, to help you choose items people prefer nowadays. Moreover, integrating them with your store is incredibly easy, making them a favourite among emerging and established online sellers. You can also leverage social media and Google Trends to find products for your store.
How do I start making a product?
If you’re thinking of manufacturing your own products to reduce reliance on suppliers, you must be sure about the product you wish to launch. Run a thorough business analysis and research your idea to weigh the risk-benefit ratio. Before creating a pilot batch, make a prototype and improve it until you get the most refined version of the product. Then, create a marketing strategy, utilize the latest trends, and launch your product. Once your product is successful, patent the idea to ensure no one else can copy it. Plus, stay in touch with the users directly or indirectly to modify the product as needed.
How do I find original products?
Usually, brands do not involve third-party sellers to sell their products when they are already doing well. However, some companies offer their products to resellers to boost sales in particular regions or demographics. You can check the brand’s website for information or email them asking if they are looking for resellers. You might not receive a positive response from most, but some might offer you something.
