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For new ecommerce retailers, running your online store can be a time-consuming task. So how do you keep it running when you need a day off? Let's take a look at a few ways to keep your store running smoothly around the clock.
Learn how drop shipping compares to bulk wholesale buying and which approach is right for you.
Wholesale products, by definition, are products and merchandise that are purchased in bulk from a wholesaler by a retailer who will normally turn around and sell them to consumers. The basic idea is the more you buy at a time, the less you pay for each individual piece. This is exactly how retailers like Walmart can offer such low prices. Walmart buys more products from wholesalers than pretty much anybody on the planet, so they can demand a lower wholesale price than anybody else and, in turn, sell those products, accessories, and items to you and me for less while still making money.
The same principle works for online retail. If you are launching a fashion accessories website, the traditional way to get products and items of merchandise at a good price is by approaching a wholesaler, say a wholesale apparel supplier, and buying all of your wholesale merchandise in bulk. This is great, because now you can buy 40 faux-alligator purses (retail $150) for $80 each and turn around and sell them for $120 each and make $40 for every purse sold. Wholesaling is awesome, right? It absolutely can be, but first let's make sure we're seeing all the cons as well as the pros.