Online Profits
How to make a profit on online retailing?
I don’t get how you would make money trying to sell products online because your trying to lose profit making your products lower than normal. Another questions I have is how do you get the products to sell? If you made a website that has a lot of stuff on it and someone purchases a lot of stuff where is the item they bought? Do you have it in your storage? I don’t know where you keep all the items that you advertise online..
Things are cheaper online because it costs a lot less to run an online store than a high street one (in most cases). Your margins depend on how much the product costs you. You will struggle to compete with the online giants because they put in large orders to factories/distributors so can demand a lower cost price than someone that orders 50. You just have to go with the margin you can afford.
You need to buy stock and store it if you’re going to have any chance of decent turn around for the customer. You use warehouses for large stock quantities. You can buy or rent them. You’re store should feature stock levels so that customers can’t buy items that you can’t supply. You can link this up with barcoding systems, sage systems etc to achieve this.
You get stock by opening an account with a UK distributor of products. You will usually see/speak to a sales agent for that. If you are dealing in large stocks of unbranded items then you can go directly to factories (generally in china and india) but you need to know what you’re doing and you need to order container loads of the stuff.
I don’t mean to sound rude but don’t do it unless you have some business background because it’s not as easy as people think.
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