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Malaysia Online Business Channel

Goods and Products Sourcing

Tips : 
Goods Sourcing
Finding the most suitable supply for a new business is the most concerned issue every seller has. It is also a main key to success. I combined my personal experience and online sellers’ experience, came out with the following seven sources for purchasing goods. 

1. Wholesale purchase
This is the most common purchasing channels. If your store sells clothes, then you purchase goods at some large size wholesale markets. You have to equip with strong bargaining power in order to get the lowest cost price. At the same time, you also have to establish good relations with wholesalers. You always have to be clear on the issue of replacement goods with the wholesaler to avoid dispute after purchasing. 

2. Factory purchase
A good manufacturer supplies adequate goods. If you deal with them long term, the general slow-moving change models can be secured. But in general, dealing with the manufacturer, you have to purchase goods in large quantities, it is not suitable for small wholesale sellers. If you have enough capital, dealing with manufacturers is a good idea.

3. Large wholesalers
You can find them by searching in Baidu or Google. They are generally supplied directly from the manufacturers. They have stable supplies, but they usually have a lot of large orders, their services sometimes might be slow. They usually have many turned back customers, you can hardly negotiate terms with them. Unless you become one of their major customers, you may have special discounts or offers. 

4. New wholesalers 
These types of wholesalers are usually new in this business, they have not many fixed customers and not very popular. In order to win customers, they usually allow customers purchase in small quantities with similar prices to those large wholesalers. You can also purchase, according to your experience and conditions, such as price and replacement issues. In order to gain turned back customers, they generally have better after-sales service. The downside is that because they are a new wholesaler they might have low integrity in the business. 

5. Pay attention to foreign products or OEM products.
There are many factories who manufacture well-known oversea brand orders usually have a surplus in their production, the price is usually very low, it is usually 60% to 80% lower than the normal price. This is another good channel for purchasing goods.

6. Factory clearance products
Factories which usually want to have fast cash turnover usually offer very low prices. If you have very strong bargaining power, you can purchase the goods at very low price and sell them on the internet. You should always pay attention to the market changes.

7. Special purchasing channel
For example, if you have relatives or friends in abroad, you can ask them to help you to import goods that cannot be bought in domestic or low-priced goods to sell online.

Purchasing is a very important step for selling things online. No matter what channels you use, finding low-priced goods in the main key to success. 

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