Whether you are a re-seller who has been in business for years or a reseller that is just starting out, you will inevitably have to replenish your stock throughout the year. And one of the most popular places to buy stock is online.
But there are so many places to secure stock, how do you ensure you get the best price? Here are our three tips for buying online which should hopefully help you to maximise your return on investment.
Scout Around
If you have a particular item in mind that you want to resale then you should look around – don’t just settle on the first one you see. There are a variety of sites you can buy from now including eBay, Amazon and Gumtree. Visit the product category you are interested in sourcing stock from and assess how much they are being sold for. Compare these with other sites as this will help you to gain an idea of their retail price.
Be Patient
Waiting to secure a bargain on online auction sites can be frustrating but in order to gain the best deals you need to stick with it. Don’t click on the ‘buy it now’ button unless you are certain you won’t be able to find it at a better price. You are more likely to grab a bargain if you bid for an item and keep checking back for price updates. It can take time and effort but if you are patient when trying to secure stock it should pay off.
Find Suppliers
Wholesalers are one of the best ways to find stock at wholesale prices, especially if you want to buy in bulk. Most wholesale suppliers will offer products at well below the RRP and will offer even better bargains when products are sold by the pallet or in job lots. So if you want to resell a certain item, contact specialist wholesalers to see what deals they can do on multiple purchases. The less you spend on buying your stock the more chance you will have of making a healthy profit. We have access to a variety of wholesalers specialising in a number of products – find them here.
