Cosmetics are very popular with many consumers and can be a profitable wholesale product to stock. But how do you know what to buy and how do you know you are getting the best deal? Check out our tips below.
• Research. This is vital if you want to stock products that sell quickly. You don’t want to be left with too much stock in your inventory or products you can’t sell so one way to protect against this is by researching the market. Designer makeup brands like MAC, Benefit and Smashbox are popular all year round but some brands are particularly popular during different times of the year. It could be that a celebrity has used the brand or the brand has sponsored a major event. Either way knowing what brands and products are popular right now is essential if you want to increase sales. Look online, research what your competitors are buying and research what products can provide the most return on investment.
• Know your customers. In order to stock the best products you need to know your customers and what they want to buy. One way of doing this, if you have a wholesale website, is to ask your customers via online surveys or email questionnaires. This will enable you to find out if there are any items they are looking for or any items that are of interest.
• Stock variety. Cosmetics come in all shapes and sizes. Eyebrow kits, foundation, blusher, lipstick, bronzer, mascara, eyeliner… the list goes on. To maximise your chances of selling ensure you stock a variety of products to keep up with your competition.
• Find wholesale suppliers. They key to making a good profit is contacting competitive wholesale suppliers who can offer you good rates on these products. The team at Wholesale Scout have found some wholesale cosmetics suppliers who can provide products at low prices so if you are interested in stocking up on cosmetics, get contacting them today!
