Amazon alone generates 178 billion dollars of revenue every year through e-commerce sales.
That means tremendous opportunity for you.
Amazon is a marketplace made up of individual e-commerce sellers that specialize in a variety of niches. These sellers have access to a customer base that makes up 75% of all e-commerce shoppers.
And Amazon isn’t the only place where an e-commerce seller can sell their merchandise. Other platforms like eBay or even your own website can serve as a tremendous vehicle to sell things and make money from the comfort of your home.
But how can you find wholesale merchandise to sell?
Our team at Dollar Days has put together this guide on what wholesale items are, what to look for when buying it, and ultimately, where you can find it.
What is Wholesale Merchandise?
Before we get into sourcing wholesale merchandise you can buy and sell for a profit, it’s important to understand what you’re looking for.
Wholesale merchandise are products you can acquire either straight from the manufacturer or another wholesale supplier in bulk. After acquiring large quantities of wholesale merchandise you can then sell it through e-commerce platforms to generate a consistent, predictable profit.
Identifying Good Wholesale Opportunities
The number one thing you want to look for in wholesale merchandise is profitability. Will you be able to get the product you’re looking at in bulk and resell it for a profit?
When analyzing the profitability of a wholesale product there are a few things you need to consider.
Is There a Price Difference Between the Wholesale Price You’re Paying and the Lowest Price on Your E-commerce Platform?
If you know what e-commerce platform you’re planning on reselling on you’re ahead of the game. You can look at wholesale items you’re thinking of acquiring and compare the price you’re paying per item against what the lowest price opportunity is for resale.
If you’re seeing that there’s a profit to be made, you may have found a good product.
Are People Buying Your Product?
It’s important when buying wholesale to know if there’s a market for what you want to re-sell. You can do this by searching the product you’re thinking of selling on popular e-commerce platforms and seeing if it’s already there.
If it’s already available, that could be a good sign. You can dig deeper to see if people are enjoying the product by looking at the number of product reviews the item has and what people think about it.
If people are complaining about the quality, you may want to steer clear of selling the product.
Can You Still Turn a Profit When Adding E-commerce Fees?
All e-commerce platforms charge fees. Whether you’re selling on Amazon, eBay or even through your own website.
Be sure to fully understand the fees you’ll be expected to pay and calculate them into the profitability of your item so you’re not surprised later.
Is Your Timing Right?
Timing is important when reselling wholesale merchandise. For example, if a product suddenly gets popular, you may run into stiff competition that drives resale prices down.
Remember, it takes time between when you order a wholesale product and when you can it up for resale. If you analyze the market and it looks good when you purchase your wholesale product, the market may change over the next couple of weeks it takes you to start offering the product online.
Where Is the Best Place to Source Wholesale Merchandise?
Now that you have an idea of what to look for when buying wholesale it’s time to answer the core question of this article.
“How to find profitable wholesale merchandise.”
There are a lot of online outlets claiming to offer wholesale prices. Be aware though that more often than not, those places claiming to sell wholesale are just throwing around the word as a marketing tactic.
A good wholesale supplier should have a wide variety of products. They should also allow you to buy in bulk.
Bulk buying is very important.
Buying in bulk may seem like a hardship upfront but it’s integral to keeping your long-term costs down and increasing your profit as a reseller.
Also, shipping costs are a big consideration when buying wholesale. A good wholesale supplier should offer attractive shipping incentives to people purchasing in bulk. Some qualified suppliers will even offer free shipping on products when you cross certain thresholds.
The bottom line, when sourcing wholesale products look for a supplier that has a good variety. Make sure they have attractive shipping and prices and offer you a customer support number in case you need to discuss anything in regard to your orders.
Summarizing Getting Profitable Wholesale Products and Our Supplier Recommendation
Getting wholesale products and reselling them online can be extremely lucrative. There are many sales channels like Amazon, eBay and more that generate billions of dollars every year. Portions of that revenue are shared with sellers like you.
When sourcing wholesale products look for reputable suppliers with good customer service, excellent prices, and fair shipping charges. Also look for a supplier that has a wide variety of products so you can stay on top of trends easily.
If you’re looking for a wholesale merchandise supplier that offers all of the benefits we’ve mentioned above and more, look no further than our team at Dollar Days!
Dollar Days offers thousands of products to pick from that you can buy in bulk. We offer free shipping on orders over $499. We also have superb customer service to help you throughout your wholesale journey.
We proudly support a number of charities with many of the proceeds we get from your business. If you’re looking to source quality wholesale products, opt for a brighter way to shop and check out Dollar Days.