INTRODUCTION

Customers, products, and businesses go hand in hand. They are an integral part of each other because only the right products attract good customers to the business and good customers bring sales and profit to the business. There was a time when product sourcing was not as easy as it is today. Traders had to travel in Caravans across the world and face hardships of long-distance travel just to find and source the right products for their business. Who knew at that time that in the twenty-first century businessmen would be able to source products from across the globe from the comfort of their homes. This blog is actually a product sourcing guide for e-commerce business owners who have just started or are about to start their business.

WHAT IS PRODUCT SOURCING?

In simple and subtle words product sourcing is simply being able to find the right product from the right source. However, in practice, the process is very challenging. That is why we have compiled a product sourcing guide. The two most common trend methods are product sourcing from Alibaba and using product sourcing websites. Product sourcing includes first of all finding the right product for your business according to the demands of the customers. Secondly cost calculations, finding the best price of the product so that it can be sold at a profitable price. Lastly finding and negotiating with the most suitable supplier of the product. It is extremely important for the business owners to know from where they are sourcing their product and what effect will this product sourcing have on their business’s performance.

PRODUCT SOURCING GUIDE FOR E-COMMERCE BUSINESS

Product sourcing for an e-commerce business is not as easy as it appears from the surface instead it involves a lot of hit and trial and research. In this product sourcing guide, we shall have a detailed look at the product sourcing strategy to let e-commerce business owners have a deep understanding. The most important step is to first find the product you want to sell. Once you have landed on the selling product you can either use product sourcing websites like Shopify, integrate product shipping apps, partner with a  wholesale supplier, or even sell the product under your own white label. You can also perform product sourcing from Ali baba. For all these processes you need to formulate a product sourcing strategy which is explained further.

PRODUCT SOURCING STRATEGIES

E-commerce business owners have to rely on a blend of all these services to source and sell the best products to their customers. Using all four strategies let thee com business owners re enforce the strengths of all of them and minimize the shortcomings of each. These details product sourcing strategies serve as a product sourcing guide for beginners to evaluate each of them and then select the best option for their e-commerce business.

1.SOURCING FROM A WHOLESALER

Product sourcing from wholesalers minimizes the opportunity of selling such products in the market which are not in demand. The reason is that usually wholesalers sell products in bulk and offer a range of products to choose from hence they always have the products which are actually selling. Product sourcing from Ali baba is a good option when you are looking for wholesalers because it is an online platform that brings both wholesale suppliers and e-commerce business owners together. Also since wholesalers offer bulk purchases the per-unit cost of the product is also reduced which maximizes the business revenues.

2.SOURCING FROM A MANUFACTURER

Product sourcing from manufacturers is a good idea when you are selling custom-made or DIY products. It offers more control over the logistics and business because the business owners are dealing with just one manufacturing company. However, product sourcing from manufacturers is a pretty good idea when a business has some unique business idea or is selling a unique product in the market to a specific target audience. A major con of product sourcing from a manufacturer is that it’s not suitable for a small start-up business because of the initial high start-up cost. Product sourcing from Ali baba also brings business owners and product manufacturers together so some product sourcing websites such as Shopify through oberlo.

3.SELLING HANDMADE PRODUCTS

Selling handmade products is the perfect product sourcing strategy for hobbyists. People who love to craft their own products and then sell in the market use this product sourcing strategy. There are certain niches that fall specifically under this category such as jewelry, clothing, beauty products candles, etc. However, since products are all handmade hence this product sourcing strategy is very difficult to scale. An idea is to first create such products in bulk and then place them for sale on a product sourcing website such as Ali baba or Ali express or else sell them under a private label.

4.TRADE SHOWS

Trade shows are a unique platform for both the business owners and the manufacturers, wholesalers, and even handicraft creators along with business owners. They bring all the stakeholders together in one spot and provide them opportunities to interact and grow together. They help the business owners to accomplish two major steps of the product sourcing process i.e product research and finding a reliable manufacturer or supplier.

THE ADVANTAGE OF PRODUCT SOURCING FROM TESEN FULFILLMENT AND DROPSHIPPING

A.COMPREHENSIVE RESEARCH

Tesen uses Chinese portals and business portals to conduct in-depth searches of available suppliers in China. A thorough evaluation of the suppliers is conducted to select the one that offers the best quote for products. In addition to this, the company also provides a product sourcing guide through its connections and local markets.

B.PRODUCT QUALITY CHECK

Tesen also acts as a bridge between the manufacturers and business owners. So if a customized product is being ordered it is thoroughly checked while being manufactured. Also on arrival at the warehouse each and every product goes through a quality inspection and HD pictures are shared with the business owners.

C.CUSTOM SOURCING

Tesen mostly deals in consumer goods however it performs custom sourcing as well. For example, all the electronics are sourced from Shenzhen city and shoes and garments are sourced from Jinjiang.

D.WORLDWIDE SHIPPING

Fast shipping is crucial to e-commerce business success and Tesen offers worldwide shipping at affordable rates. Tesen is a professional logistics supplier which assures delivery of products at the doorstep.

CONCLUSION

No doubt product sourcing is a tricky process but if handled carefully with all the product sourcing guide lines it can definitely help the business earn a large number of profits. The key is to choose the right blend of product sourcing strategies and select the right product for the business.