Tips for Selling Merchandise Online
- Take advantage of 3rd party websites like Amazon.com or eBay. They have a loyal customer base, lots of website traffic, built-in payment methods, seller and buyer protection plans and more. If you’re just starting out, considering selling on one of those sites until you build some credibility and branch out into your own stand-alone website.
- Source from lots of suppliers. Even if you find 2 or 3 that you particularly enjoy working with, it doesn’t hurt to have a good contact book of wholesale suppliers you could potentially work with. If one is out of stock on the product line you carry, be sure you can source this product from somewhere else so you don’t have a service interruption for your customers and so you don’t have to scramble to find new product.
- Research your market. Check out what other items like the ones you are listing are selling for and try to find a competitive edge. If you can lower your item by a few dollars or offer free shipping, you will make yourself stand out and drive the customers to your store instead of someone else’s. Don’t just base your selling price on your purchase price. See what others are doing and do better.
- Don’t be afraid to buy larger lots and liquidate. Many online sellers are afraid to get their hands on larger loads of merchandise for fear of the space it will take up, the time it will take to sort through it all and what to do with any unwanted items. There are tons of liquidation services available out there to move unwanted inventory, and the money you will save overall by purchasing larger lots at a time will put you ahead of the game.
- Make sure your service is impeccable. There are hundreds of sellers on the internet carrying very similar products at very similar prices. If you prices are good but your service doesn’t follow, customers may be inclined to go to your competition who might charge a little more but provides better service, faster shipping times, etc. Make sure you answer customer inquiries quickly, get orders out the door fast and keep an open line of communication with your buyers.