Are you looking to increase sales for your business? If you are, perhaps you may wish to consider sourcing for additional products on the Internet. It is widely known that in order to increase your sales revenue, you have to do 1 or 2 things.
The first thing you can do is to acquire new customers. However, this approach is very costly because you have to use up more resources on marketing. This is because it takes time for a new customer to get to you know and your business. If you wish to grow your revenues more quickly, then consider the second option.
The second option involves selling more to existing customers. This is the recommended approach because it is much easier to sell to existing customers than to new customers. You have a clear challenge ahead of you here. No matter what you do, you have to ensure that that your existing customers will buy repeated from you. So how do you do that?
First, make sure that you only sell high quality products. Never sacrifice quality so that you can bring prices down. If your customers bought inferior products from you, they are unlikely to patronize your stores again. Do whatever you can to ensure that the quality is good. For example, do not just trust the samples that you see before placing an order. When the shipment arrives, go through the products personally to ensure that you are getting products with similar quality as the samples. Otherwise, you can always reject the shipment.
Next, understand your customers really well. What do they need? What do they desire? For instance, if you are serving students, you understand that they engage in a wide range of activities – school sports, urban sports, social gatherings, casual outings, etc. So merchandise that allows them to participate in a wide range of activities will most likely sell well.
Once you are clear of the right products to sell, it’s time to source the products. You can easily log on to the Internet and visit a trade lead website. Such a website helps promote businesses that are involved in import and export. They will list their products as well as company information on the website. All you need to do is to send an email or make a phone call to ask about the types of products available, and the prices. Usually, you get better prices if you are sourcing products from China, Indonesia and Thailand. The wages for these countries are low and they have the ability to produce huge amounts of products at an extremely low cost.
When it comes to profit making, cost is everything. If you manage to buy at wholesale prices, it is almost impossible for you to lose. Even if you don’t clear your inventory, you can still make a handsome profit as long as you have a good profit margin to work with.
All kinds of products are available online, just waiting for you to make contact – furniture, shoes, clothing, souvenirs, and more!