Are you looking to sell wholesale products to sell on Amazon? Or are you planning on selling smaller quantities? Before you decide on your business model, it’s important to know the different ways on how you can get your inventory. You can choose from retail arbitrage, wholesaling, dropshipping, or outsourcing.
Every seller on Amazon has different means on how they find wholesale suppliers for Amazon. If you’re a new seller or looking forward to changing the way you outsource, there are a lot of ways on how you can do this. But before you sell a particular product, make sure that you’ve done extensive research for it first. Through this, you will be able to see which products will sell best on Amazon.
After doing your product research, you must now look for manufacturers that can supply your products. You can either order the products from a direct supplier or have them outsourced in different ways. With that, here are some ways on how you can get wholesale products to sell on Amazon as your inventory.
Who says you can’t buy products on clearance aisles and sell them on Amazon? There are a lot of sellers who do it this way. Usually, they find a product that’s on the clearance aisle, or it’s heavily discounted and sell it on Amazon. This is a good stepping stone, especially if you’re just learning the ropes on selling on the platform.
This way of product acquisition is perfect for beginners because you won’t need a large investment. You can just sell what you have in the meantime and profit off of it. If you’d like to invest the money you’ve earned from selling products, then you can do it again and buy it in bulk. You can also opt to go for higher-priced items like electronics and home appliances.
To succeed, you must be able to profit off at least 20% for every item. This way, your efforts in finding the items and uploading all of these on Amazon will at least be paid off.
There are numerous liquidation, outlet, and surplus stores all over the country. So, if you have one near you, you can make the best of it by buying items from these stores and selling them on Amazon. You can usually find discontinued products in these stores. The health and beauty product category is big on discontinued products. Take advantage of this particular market by scourging through liquidation stores.
The reason behind this is that discontinued items are treated like rare finds. If your customer sees that you’re selling his or her favorite item that’s not being offered on physical stores or by any other Amazon sellers anymore, then you can expect that person to buy from you. You can even sell these products at a higher price because of their decreased supplies.
It’s a win-win situation – your customers are happy because you have their favorite products, and your profits for each product sold are higher, too!
This is one of the most common ways of outsourcing products to be sold on Amazon. This will entail you buy products from retail stores and sell these on Amazon for a profit. You can implement two ways so you can maximize your profits. You can either buy from retailers in bulk or price it way higher than the others.
The best way to keep your pricing competitive without sacrificing your profits is by buying in bulk. The only difference with retail arbitrage is you’re outsourcing from retailers and not from wholesalers. Due to this, you might not be able to get a substantial discount from buying in bulk. However, retail arbitrage on Amazon would not cost much for you and lowers your risk, so you can definitely do this if you’re starting out but would want to work on more inventory than usual.
Dropshipping is one way for you to easily sell your products without having to go through the hassle of storing these in your warehouse. If you’re working with a large volume of products, this can bring in more sales for you. However, it will also mean that you have to spend more on storage costs.
You can either address this in two ways. You can either start selling as many products as you can in a short span of time or opt to choose drop shipping instead. Most Amazon sellers, particularly those who are using Amazon FBA as their fulfillment methods, choose to have their products drop shipped.
This means that the products will be sent directly from your manufacturer to the Amazon warehouse. You will have to hire a quality assurance team and a dropshipper check and send your products to Amazon. It might cost you some money but definitely not as much if you were to store these in your own warehouse.
This type of inventory sourcing is best, especially for those small to medium-sized businesses that are looking forward to scaling their businesses but don’t have the money yet to invest in their own storage. If you consider yourself to be this kind of seller, then this inventory sourcing method is definitely perfect for you!
If you’re looking forward to scaling your business even further, you can try to source your inventory through wholesaling. With this, you’ll get a lot of inventory products that you can sell and profit off. Since you’re buying it at wholesale price and in bulk, you can definitely get higher profit margins for it. Another option available to Amazon sellers is SourceMogul, which scans tens of millions of products each month to find profitable deals for resale. They cover wholesale and retail, and you get 7 days free to try it out!
For wholesaling, you will spend more on product acquisition. So before you fully immerse yourself into getting wholesale, you should first make sure that you have enough following and demand. It’s a bit risky if you don’t have the demand for higher quantities of products yet. But if you already do, then this is something that you can definitely get profit from!
These are the five easiest and most reliable ways you can outsource your products. Opting to choose these inventory sourcing methods, especially if you’re still new on the platform, will definitely be helpful for you! You can do it even if you don’t have that much investment initially, or you can also do it when you’re deciding to scale up your business.
Doing product research and obtaining them as your inventory is the first step. You will still have to list these on Amazon. This might be a little tricky, especially for new sellers. It may look like it’s a very simple process, but much work goes into it more than you think.
If you want your products to be noticed on Amazon, they would have to rank. In order to rank, you’d have to incorporate the right keywords for it. This is where an Amazon marketing specialist can help you with. They are the professionals you should turn to if you want to succeed in selling on the platform.
Do you need help in managing your product listings? This is something we can help you out with! Talk to an Amazon specialist today. Schedule a call with us by emailing our team at [email protected].
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