Are you an Amazon seller looking for ways of sourcing products to sell on Amazon? Or maybe you want to enhance your current inventory by shifting to a better source? No pressure! You are in the right place.
Generally, it appears as a time-consuming task to find the ideal source for amazon products. However, to help you with it, we list down the top 5 ways to source inventory for Amazon FBA. Let’s get started!
Sourcing Products from Wholesale suppliers
Usually, wholesale suppliers are the most popular and convenient sources to get your Amazon FBA products. It is as easy as it sounds. You get your hands on grand quantities at discounted rates and then resale them at a considerable profit. You can even get greater discounts once you’ve formed a well-established business relationship with them. It all comes down to your negotiation skills and the number of products you purchase.
However, double-check if you have all the necessary permissions to resell any product that is branded. Otherwise, it might come as a drawback. As a consequence, your store can be pulled down as a reason for copyright violation.
Pro tip: If you are a new seller, we’d suggest you always start with small quantities to get an idea of the Amazon market. Make sure you don’t end with a deadstock.
Visiting retail stores to get your inventory always comes with an advantage. You can get amazing discounts and get a hold of clearance aisles at stores like Target, Walmart, CVS etc. You can buy discounted products and sell them with a profit on Amazon.
Yes, it takes some extra efforts to seek such opportunities but it saves you from a huge upfront investment. So it’s a safe option to choose from.
If you don’t want to get worked up by looking for physical stores that offer discounted products, online arbitrage is the way to go. You can buy products at a low price and sell them at a higher rate on Amazon to earn the profit. It is a great way to find products if you are somebody who lives in an area with limited choices.
Furthermore, there are plenty of online shopping websites offering goods on sale or under discounted rates.
By the way, you should be as active as you can since this particular way of sourcing is highly competitive. Restocking is a major issue as such discounts or sales come for a short period. You might have to wait for the next seasonal sale.
Sourcing Products from Online B2B marketplaces
Ever heard of Alibaba.com? That’s right, it is currently the largest online marketplace to get products from. It comes under the category of B2B marketplaces online. Usually, sellers prefer to purchase inventory from B2B marketplaces as they offer a wide variety of goods without searching too much. Besides, China-based marketplaces are a go-to because of the lower prices and higher possibility of generating higher revenue.
Established sellers can take advantage of B2B marketplaces as they can order products in bulk quantities because of their high MOQ.
Garage sales and Auctions
While some of the sellers prefer discount stores or liquidation sales, many of the Amazon sellers hunt for more profitable items by going to garage sales and auctions. Garage sales are conducted throughout the year, and you can sometimes find valuable collectibles. Once in awhile these weekly events may turn up a find with high pay off. Through Auctions, you can get most of the donated items, and also overstocks. You might just get your hands on antique pieces. People nowadays are crazy about antique stuff that come as an advantage.
Be careful to avoid potential issues such as buying defective or broken products and you are good to go!
You can’t always purchase discounted products from chain stores as they only keep them for a little while. Then those products are shifted to liquidation stores. It’s almost like every single product in the whole store is on sale!
You can get a variety of products at much lower rates. However, physical inspection plays an important role when you are about to get inventory from liquidation stores. You need to be certain that the products are in good condition to sell or else nobody is going to pay for it.
To summarize, we have mentioned the most favorable ways to get your inventory for Amazon. Some of the sources may take a lot of time but they may be a good way to start as they take little investment. Most Amazon sellers find sourcing to be the hardest yet the most enjoyable part of the Amazon adventure. You can try out different options until you find the one that suits your business.
If you need any guidance regarding how to sell on Amazon, please visit our blog https://alpharepricer.com/blogs/how-to-sell-on-amazon/