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Browsing Posts tagged Product Sourcing

Product Sourcing – Spring Fair 2012

February 5, 2012 No comments

Springfair_logo

One of the top questions I and many of the other eBay consultants from around the world get is around the topic of Product Sourcing. On Saturday I had a meeting with a client and he and his girl friend new exactly the type they would be selling and where they were doing their product sourcing, you see they had a plan, and it will be a privilege to watch them grow their plan out on eBay.

Then a short while later while having a casual chat with a couple of people, that famous quote came up…..”So what’s the hot product I should be selling on eBay”…….I just smiled and said well if I knew, I and many others would be selling it. All products are hot, some for a short life time and others for a much longer one and in some cases many years…….cars, TV’s spring to mind for these long term products.

So you want to know all about the latest and greatest in the world of New and Hot products……….is so get yourself along to the Trade Only Spring Fair at the NEC in Birmingham, The Spring Fair is backed with items for the Gift and related trade. There are thousands upon thousands of trade stand selling everything from a humble card through to diamond rings. There are Traders from all over the world hoping that their product will be hot and you will take some and run with them.

The Spring Fair is attend by the small trader who works from home selling items on eBay and Amazon, through to shops and then to TV shopping channels and large multi-retailer buying groups. Each one is there to product source for their business and each have there own budgets from a few hundred pounds to many millions. But we all have a common goal with the products we source….we need them to sell and make us profits.

So if you like in the Uk or fancy a trip here pop along to the NEC the show is on Monday to Thursday (6th February -  9th February), and get product sourcing

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Product Sourcing

Product Sourcing – Valentines Day Gifts

January 27, 2012 No comments

 

As we continue to look at product sourcing for your eBay and Amazon business one of the areas that I like to cover with a client is look at the major holiday’s and events that happen throughout the year. As we have discussed before product sourcing has to become the life blood of your business, and you must always be thinking ahead of what events and holidays that are happening in the up and coming months.

An event that is coming up very fast is Valentines Day, we still have sometime left to buy products and list them on eBay, but we should have been sourcing and listing back in December just after Christmas.

But I want you to just think outside the box for a bit. Around Valentines Day a lot of men are buying a gift for that special lady in their lives. But very often men get stuck on what to buy…..so in the descriptions help the men with the shopping experience and then for an extra cost – (Here is where we think out side the box…….use multi variation listing format and offer different types of gift wrapping service).

Men will love this, so will the ladies but a lot of men cannot wrap a present up…….offer this service and what the orders come in and with this watch the profits come in too.

So what types of Products can you source to sell on eBay :

Perfume
Aftershave
Clothing
Chocolates
Handbags
Books
Rings
Bracelets
Lingerie
Presents a loved one would like 

Then of course you have the industry standards not only for Valentines Day, but for presents every day of the week.

Candles
Make-Up
Flowers
Scarves
Gloves

One of the big issues is buying presents for the men in peoples lives, but we are product sourcing guru’s now. Men love :

Books
Sporting Items
Games
Electronic items
Gadgets

As we bring this product sourcing article for Valentines Day to a close, remember that the whole time we need to be sourcing items that are easy to ship, and there is a good profit margin in there. Please do not get caught out with a great looking product and buying it and then finding there is no profit margin there.

So get going and Happy Product Sourcing.

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Thrifting Friday – Some Good Buys

January 6, 2012 No comments

 

Well today after spending sometime with one of my eBay Consulting clients I visited a few of the local charity shops and bought some items which I will be adding to my inventory. I shall be adding a new section to this blog of items I have either bought or sourced and what how well they have done on eBay.

As I have mentioned before I business relies on product sourcing and then sourcing the products at the right price. Yes it all comes down to the products and the right price (and selling them on the right platform, the place where the buyers are)

Today I spent around £50.00 on items, and once they have been listed and they have sold I will do a post and tell you all how they have done. But from time to time I will also do some live postings and show you how and why I chose an item to sell.

If you have sourced any items good or bad please share them with us over the coming days and weeks.

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Quick Product Sourcing Tips

December 12, 2011 No comments

Quick Product Sourcing Tips

 

Product Sourcing, eBay Consultant

As an eBay and Amazon Consultant I am always being asked about Product Sourcing tips and ideas and how to find those items you can buy low and sell high. And before we get into the main part of this article that last part is the important bit, buying low and selling high.

You do not need fancy bits of kit to help with product sourcing nor do you need a degree while these may help at the end of the day you just need to remember buy low and sell high and if you follow that simple rule you are a good way there to make money week after week on eBay and Amazon.

Quick Product Sourcing Tips

Buy low and sell high – When you are out and about keep an eye open for shops and stores that are selling items off at a steep discount or buy 1 get one free. Here in the Uk I have seen some supermarkets even do buy 1 get 2 free. When you see the buy one get one free sale, remember you need to halve the retail price. For example let’s say it sells for £10.00, but because it is buy one get one free the cost is now only £5.00 each. Take a look and see what they are selling for on sites such as eBay and Amazon and see if there is profit to be made.

Recently I let a big opportunity pass through my fingers in our local shopping centre we had one of those discount stores that was closing down. I popped in whenever I was in town and spend some time doing some product sourcing, and from time to time I found bits and pieces I bought. Now this shop was in it’s last few days of being open and was the last in the chain of shops and they had all the stock in this one shop………………Lots of people and lots of rubbish stock this was stuff people had not bought from the past few weeks. But……………..there were 2 pallets of a well know make of maths sets.  I had a look on my phone and they retailed at £4.99 each on a regular basis plus shipping. 

The shop had them on sale for 25p each. Now I was thinking were these the real deal, it was something the shop would not normally sell. So I thought well I have got a £10.00 note in my pocket so bought 40 items and thought if they are not the same as ones I have seen on Amazon and eBay all I have lost is £10.00.

Anyway got home and listed them and yes they were the real deal and yes each one sold for £4.99 plus postage and packing. On Buy it Now and sold in hours. Next day went back with some more cash to buy a load and the shop had gone, the day I was there was the last day. 

So when you are out product sourcing there are times when you need to take that risk. If you see something when you are out and about I would suggest you spend what you can afford to loose when you are just starting out. Yes when you are product sourcing there will be times you get it wrong and when that happens keep the items as gifts or sell them at cost price.

Product sourcing is fun and over the coming weeks we will look at many different ways you can source products for your eBay and Amazon shops. Happy Product Sourcing

Andrew Milburn Is An eBay And Amazon Consultant Based In Lichfield Staffordshire.

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More Product Sourcing Tips

November 21, 2011 No comments

More Product Sourcing Tips

Product Sourcing is one of the common questions I get asked time after time. And I have covered it a few times in my blog, but it is a topic I love to talk about and as a seller online (and for those who sell offline)  it is one of the most important items that you need to be doing all the time. If you stop product sourcing then after a time you will have run out of stock and ideas for new lines and products.

So what is product sourcing ?

Product Sourcing is simply going out and doing research in the field (This can also be done online or looking at newspapers and magazines) but getting out there and visiting trade shows, charity shops, thrift stores, antique malls and stores to name just a few. Of course if you only sell new items then you will need to do your product sourcing at Trade Shows. But if you are one of those traders who sells anything, then have an open mind and soon you will see products that you can sell all over the place.  So Product Sourcing is finding new products and product lines to sell in your eBay shop or Amazon FBA.

How to do Product Sourcing

Simply get out there and go places. Carry a note book or smart phone where you can note down what the product is, the maker or importer and price. Yes you can make other notes but those are the main ones. When you come home just do a Google search for the product and make enquires and if you like what you hear buy some product and see how it goes. Be-careful and do not buy too much stock, the last thing you want is to have stock that does not sell. Just tell the import or maker of the item that you are looking to test the item, but if it sells you will be back for more. Always be honest with these people and they will be honest with you.

Another thing you can do is source products from other countries, yes this takes a bit longer and takes your product sourcing to another level, but the returns can be well worth it.  I will be offering a product sourcing business to my friends who live outside the UK, if this is something that will interest you please get in touch by sending me an email to info”myauctionempires.com  and put Product Sourcing in the subject part.

So what are you waiting for, put your product sourcing hat on and get out there and start product sourcing and looking for new products and ideas for your business.

Andrew Milburn is an eBay and Amazon Consultant based in the UK.

 

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Buy Hot Items Today

October 22, 2011 No comments

 

While out shopping today, I saw a product that could have been a good money earner if I was in the market for a new niche, but if you have been following me recently you will know I have a large amount of stock that I am selling over at Linford Direct Auctions.

I passed a shop that was selling liquidated stock, they were part of a chain and were one of the last shops to stay open and were selling off all the stock from the other shops and warehouse. So yes there would have been a load of no good items, with some hot items added in there.

Well there in the front of the store was a very large pallet of Helix Maths Sets, with a retail price of £4.99 and they were selling them for only 49p each. Yes these were all in their tins and boxes and on a closer look they seem in new condition, because they still brand new.

And if you hop on over to

they are selling for a price of £4.99, some with free shipping and some with postage costs on top.

Now before you go and source these items, you need to remember these items are basically for school kids, and schools and Universities are back in session and have been for some time. So while there is a demand for this product, the peak has really passed until the next start of term.

Now if I had seen this deal in the summer, I would have spend some money. For an example I could have spend £10.00 and bought 20 items, and flipped them on eBay for £4.99 each and after fees and postage would make around £2.99, times that by the 20 items and I would have made £60.00 profit. Not a bad return, well in my book it is not. Yes I know I did not buy today, but I might when I am back in town, just for a bit of fun and report my findings here.

So keep your eyes and ears open, and take advantage when you can.

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4 Tips For Buying Wholesale Jewellery

September 27, 2011 1 comment

4 Tips For Buying Wholesale Jewellery

 

 

If you want to start an online jewellery business, then a site such as eBay is the best place that you can start. On eBay you can learn the ropes and also learn what sells and what does not sell. Plus you have the ready made traffic that eBay can bring to the site and this in turn can bring people to the items you are selling.

  • Tip One – You need to find a source to buy your items from, this is the same step that anyone needs to take when looking to sell items online, but when you are dealing in Jewellery there is another factor that you need to think about and that is do you sell new jewellery or do we sell second-hand / antique items. If you are going to buy new then you need to look for jewellery wholesalers – these can be found in places such as the Yellow Pages, doing a search on Google or by going to a site such as WorldWide Brands. WorldWide Brands was set up many years ago to help people source products to sell on and off line. These people check out all the suppliers and they have to meet guidelines before they are listed in the directory. Worldwide Brands is a paid for service, but it is well worth the money for what you get.. Jewellery - My Auction Empires
    If you are going to be selling second-hand and antique jewellery then you will need to visit car boot sales, garage sales, antique fairs and shows, and also run adverts in newspapers.
  • Tip Two – When you are buying jewellery you also need to be on the look out that you are not buying fake items. If you are dealing in the low end costume jewellery side of the business then this is not really a problem. The problems arise when you go into the middle to high end part of the business. You need to know the difference between real and “Fake” items. And even some of the top jewellery buyers are caught out from time to time, so as a new person you need to be careful. You need to make sure you are buying from a real business – go and visit them take a look around, ask questions and do your research.
    And if you get a phone call offering you some pieces of jewellery at silly prices and they ask you to meet them in some bar – decline the offer as chances are they could be stolen.
  • Tip Three – Get to know the terms that jewellery wholesalers and the customers you sell to use. Know the differences between gold plated and gold, if you do not know these simples terms it could cost you your business.
  • Tip Four – Start small and then build your business up, step by step, get to know what your customers (clients if you are selling high end items) want and like. And if you are wondering do people buy £10,000 diamond items online, the answer is yes, and people have spent far more than that.

Have fun, spend time visiting wholesalers and trade shows. Also you will need to keep an eye on the fashion trends and be sensible do not rush in and buy the first items you see do the research.

Andrew Milburn is an eBay Consultant based in the UK

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Product Sourcing Hints

August 9, 2011 No comments

Product Sourcing Hints

A question that I am asked on a regular basis is, Please give me some Product Sourcing Hints And Tips. Now that question or statement can be as quick or as long as you like, and it can be as simple and as complex as you like too. But something to remember about product sourcing it is not something that you do once in a while when you need something to sell. It is a lifestyle……………….it will become something that you do on a daily basis, maybe not buying items. But as you go around doing things in your life you will start to see products and ideas that you can look into to buy to resell.

When you are out and about sourcing products, try and think unbranded item, especially if dealing with new items – if you only sell collectibles then this is very different, and will be covered in other articles.

So let’s say you are out shopping and see the latest iPod, then you hear from family and friends this is the latest hot item………….Yes if you go through the huge Apple process of being approved and the finding the money for stock, then months later your stock arrives and you may then sell them at a set price in a set way.

But keep that iPod in your mind. You go online and go to a site such as Alibaba and look for an unbranded MP3 player that does the same things as the branded one does, and thinking about sourcing it from China etc. No interviews to go through, no large amounts, you can buy as few as 1 to test the market. You can sell at any price you like…………which means your profit will be higher. Simple and fun.

Always be on the lookout for those opportunities……………………You are out and about shopping and see a cool gadget that you think will sell. Look on the box and quite often you will see imported by or distributed by XYZ Company. Make a note and when you get home give them a ring or drop them an email. Worst case they will say no.

Other times you may need to put on that detective hat when out and about…………for example for ages I was looking for a supplier of books that I knew sold well but was drawing a blank on where to source them.  Then one day many months later I was in a bookshop minding my own business, buy a book for a present. There was just one girl working and she was having to stock shelves and serve. Anyway because of that there were some boxes lying around the place with items in.

And it was there in that shop that my months of trying to find the source came to an end…………In big letters on the box was the name of the supplier that I had needed. Not only the name but website too. Once home I went online and 10 minutes later, I had an account open at the largest media supplier in the world.

Would I have found the company…………….in the end maybe, but like I mentioned at the start of the article product sourcing is a lifestyle and you need to be doing it on a daily basis, and once you get to grips with it, products will be jumping out at you left right and centre. Hope you enjoyed this product sourcing hints.

Andrew Milburn Is An eBay Consultant based in Lichfield Staffordshire

 

 

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Product Sourcing

Sales Down, Do Not Worry

July 28, 2011 No comments

Sales Down, Do Not Worry

Are your sales down? If they are do not worry, it is not you, nor is it eBay or Amazon it is the time of year. Summer is always a slow time to be selling, and small sellers and large sellers always notice this downturn in sales. But please listen carefully, even though your sales are down and other peoples sales are down, it does not mean you should stop selling.

I always tell my clients and other people I help to list as normal – OK maybe not as many items, but you need to remember that although it is Summer where we are and schools are out, in, in other parts of the world it is winter and school are back. Each country is different and people have different buying habits and buying cycles. For example let us say you sell winter coats, and where you live is a heat wave………Your coats sell well all over the world, but because of the heat wave you decide to take it down for a few months. But what about your buyers in other countries where it is freezing cold?  And it also works the over way round when it is winter in one place it will be summer in another place. Please remember this.

The same idea works in Sport. In different countries sports are played at different times of the year and if you sell into this niche, you need to remember this. When Soccer/football finishes in one country it starts in another country. This is life and it is all part of running your own business.

If you are experiencing this down time, spend time in your business planning for the up and coming  holiday planning. Take time out to go product sourcing. You can also tidy up your currant stock and get yourself ready for the big buying season that will be coming up very soon. (Sorry for that).

So remember that during the summer your sales may be down, but do not worry yourself it is across the board and very soon you will see your sales begin to increase again ready for that crazy time of the year.

Andrew Milburn Is An eBay Consultant Based In Lichfield Staffordshire

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What To Sell On eBay – Consumable Products

June 29, 2011 No comments

Consumable Products

One of the big questions I am asked as an eBay consultant is what should I sell, and we will sit down and go through a brain storming session and you will find articles on this blog that will talk about some of the ideas and niches. A lot of the time people go down the one of a kind products and while this is good and good money can be made, there is another niche or multiple niches where you can make money time and time again, and as long as you offer a good product and top notch customer service you will have a customer for life.

Have you ever looked at some of these insurance adverts or cosmetic adverts and wondered to your self how they can afford to give you a gift worth so much and you are only spending a few pounds with them? Well welcome to the world of consumable products. You see the people who make these items know they are good and also know that once you have tried the item you will come back time and time again for it. Also you will tell your family and friends and at the same time buy other items and products from the range. This is the world of consumable products.

Let’s look at an example, you sell some face cream either a brand name or non brand name and you make a profit of 10.00 on each jar. The average person uses 1 jars a month. So you make a profit of 10.00 a month, and over the year that is equal to 120.00. When you look at it like this is become quite “sexy”. But also think about your average customer as long as your customer service is good they might stop with you for 3 years or more, so know you are talking about 360.00 over that time period.

But to keep it simple let’s keep it to the year. 120.00 per person per year from one consumable item, what if you could add another few items into the equation now you could be making 30.00 a month per person. So you can see quite quickly you can build up a nice income from consumable products. Sp next time you are looking at products to sell, go and take a look at the vast niche of consumable products. Do some digging and do some research and soon you will be smiling and laughing your way to the bank.


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