Electronics are popular all over the country. Digital cameras, laptops, tablet computers, MP3 players, e-Book readers…these products sell throughout the year and can provide healthy profits for resellers. So if you are thinking of selling wholesale electronics check out the tips below to ensure you maximise your sales.
Know Your Market
One of the first things to consider is your customers – especially your loyal customers. If you have a particular customer that buys from you regularly you should assess what kind of products they may be interested in as this will help you to maximise sales. Whether you run an online business or run your wholesale business from a market place, you need to know your customer base before you consider stocking items. As well as knowing your regular customers, you should look into product trends. Has a new MP3 player been released? Have digital book sales recently soared? Knowing the market and trends will help you to select products.
You need to select products you think you will be able to sell. If you don’t have much storage ensure you stock smaller items. Product selection is vital when it comes to success. Do your research and look around at what is popular to determine what is selling in large volumes. It’s crucial that you assess what products will make you the most profit too. Apple iPods are sold by all major retailers and therefore it may be difficult to secure good prices. Instead look at more niche items or items that are up and coming.
One of the most important things is finding the right wholesale suppliers. Spend time networking with industry contacts, attend events and search online for the most competitive suppliers. The better rate you can secure your items at, the more chance you’ll have of making a profit. If you want to look for suppliers now try our wholesale directory.
The retail industry is competitive and with the increase in online retailers, many consumers will hunt around for a while before committing to purchasing a product in order to gain the best deal. You can promote loyalty on your website and more sales by undercutting your competitors. Offering ‘limited deals’ or ‘special offers’ will help you to stand out from the crowd. Once you have captured the customer’s attention they should start visiting your site or pitch more regularly to see what other offers you have and you should be able to extend your customer base.