3 Killer ways to sell profitable private labels and source them stress free
and we tell you how to do it …
Everybody wants to make money selling top selling products on amazon, ebay, or own online store, but nobody wants to put in the work. In this Fast paced, weekly design change world, and with social networks influencing buying decisions, it takes smart work to make a cut.
Amongst the many reasons people want to sell online, the most common nowadays is sourcing from other manufacturers and selling them online. This is definitely the smartest decision, so that you can focus on building the Brand or increase your reach. We want to keep this article as sharp and focussed on few things, so that you can read in 10 mins or less, likewise we will be putting up complementary articles every week, so stay tuned.
So without further adieu lets start exploring ways in which you can find profitable products which are selling like hot cakes across e-commerce platforms like Amazon, Ebay or brand stores.
1. Find what you really love
Step 1 Finding what you really love
Most of the people will tell you to first look for products, but that is wrong. Selling products online takes effort, needs you to know more about the products, understand customer preferences. For example, if you are selling DSLRs then it is required that you now about the Camera features, different lenses, processor, photography requirements, specifications and other creative and descriptive content aspects of it.
- Since all these effort requires you to dig deeper at each stage from Awareness to Sales, it is imperative for you to know the product thoroughly
Once you are through this, lock your Category (why category ? I will explain below). In this case its Electronics > Digital Cameras > DSLR
Different categories like Niche, upcoming, mass market, etc also affect your planning across all stages.
2. Product – Margins, Competition and Analysis
Step 2 Product profitability & Margins
Knowing what you would gain at the end of a purchase or transaction is the key here.
- Fees – The key component in finding the right Margin starts from Category. They are different for different e-commerce sites and Categories (remember we locked the category above !). E-comm sites charge different rates as Sales commission, charges, fees, ..(u get the point). Here is how Amazon and Ebay charges fees. If you checked Amazon listing fees, you will understand why we chose and locked our category first. More details on Category will be shared based upon interest.
- Competitor Pricing – Checking competitor pricing for DSLR you will come to ascertain the range in which you can sell to customers. Note down this price range, this is what will drive the end Goal. You can also use this nifty free tool by AMZ scout to do your research on product trends
- Best Sellers & Amazon’s choice – Amazon helps you with this helpful feature which amasses all its Intelligence^ (top reviewed, liked, positively reviwed, views, user clicks, sessions, etc, u get the drift) to show you what’s the top performing across each category.
Amazon Best Sellers
This is a new feature of Amazon, theres a lot of opinion on this term, what I understood from analysing it is the way people search on Amazon, it recommends text (keywords) and based on that shows you a pre-curated list of products (with those keywords) which have good standings on its Intelligence^. Amazons choice for Electronics and here for Laptops
Once you have figured out your Selling price which is optimal based upon the above research, you can now work on Margins.
You can use online tools to find the final Cost, here is one free tool for finding cost breakup, after deducting, Product, Shipping and other advertising costs (will discuss advertising in another blog, promise)
Finding the right supplier is of key essence after this step, which we will discuss below. Hang on Tiger !!
3. Find Fast, Order Quick and stay ahead in sales
Step 3 Finding products Faster which are Hot at the best price
Remember ! Your target is to sell Hot selling products faster. With so much social influencers and b2c buying platforms, you need to focus on sourcing products at a faster rate and selling them will be easier since you have already considered products which are moving fast. Fashion is a top selling category, which makes sure that Margins are high and requires least effort.
Yes you too can source !
You will find lot of people making millions in sales through sites, dropshipping and sourcing from Asian countries. Though it not be completely true but sourcing is now available for All.
With a sourcing partner which is Digital and has a strong technology platform, like 9thRoute, Sourcing need not be any more complex. This is our genuine effort to bring the best products at cost pricing , removing all the bottlenecks that they personally faced selling Top products across US & Europe markets.
Their main differentiator apart from a platform to view designs, order and track is:
- Faster turnaround time (showing you products which are top selling, direct to order in bulk)
- Customizations (Branding or Private Label haven’t been so easy, you can either order products directly in bulk or customize (with your branding elements – logo, messaging, etc)
- Provides you with Direct selling capability (so that you focus on growing seller base)