First Time Reseller? This is for you.
We all came from the bottom and we all started from zero! For once, we were all clueless about what our next steps will be, and how will we operate with zero knowledge in our respective fields, and in this case, e-commerce or the reselling business?
With the digital age, e-commerce has been rapidly growing just like how technology has been positively developing over the years. In a recent study by Shopify, they mentioned that e-commerce is expected to double by the year 2023. If you are just starting to venture out into the industry of reselling, read on to learn a thing or two which can prepare you for what’s about to come.
1. What products should I sell?
If you are planning to start your very own reselling business, chances are you have already browsed possible items to sell depending on your target market. But what if you don't have an idea on what to sell? You can conduct a self-assessment first to see what product categories you are most comfortable with.
Let’s say you are fond of cars, you join car shows during the weekends, or you just like cars in general. You know a lot about cars and the latest models from different brands and you know the ins and outs of cars overall. You can start with that, with the product that you are most comfortable talking about! No need to overcomplicate things. Truth is, you will not feel like you are selling when you handle things that you are fond of. It can be a little passion project for you and earning is just a bonus!
Some categories that you can also sell are the following:
- Fashion and Accessories
- Electronics and Gadgets
- Home Appliances
- Home Furniture and Fixtures
- Gardening Supplies
- Watches & Jewelry
- Health & Beauty
- Automotive Supplies
You just have to find the balance between what you know and what you enjoy selling.
2. Which marketplaces are the most profitable to use?
Straight up, the top 5 online marketplaces are the big ones that you already know, such as Amazon, eBay, Walmart, Etsy, Alibaba, and Google Express. This is because they have already mastered the back-end of an online marketplace thus, making their platform the easiest and most convenient to use, consumer-wise. But, these ones already have a lot of users and is already saturated, making it difficult for you to stand out from the rest of them.
If this is the case, you can try other online selling platforms such as Facebook, Craiglist, Mercari, Bonanza, or even your very own website. You can also physically sell goods on flea markets, garage sales, bazaars, or put up your own store or boutique. Just be sure to partner your selling avenue with a little bit of creative marketing and advertising which is specifically targeted for your chosen market.
3. Where can I get initial inventory?
Clearance sections will be your best friend when it comes to reselling. Sure, you can find suppliers that offers discounted prices, but only when you buy larger wholesale packages. Liquidation companies are also available for you to source out your inventory.
For clothing items, read this blog to learn where you can find them for cheper!