Wholesale Electronics: Don’t Get Left Behind
When it comes to reselling merchandise online, there are products that need marketing while other products basically market themselves. Among the products that fall into the second category, you will definitely include electronics. In terms of demand, electronics are up there with books as the items that are being sold the most online. This means that reselling electronics online can be a great business opportunity.
Choosing Your Market
However, selling electronics means going against stiff market competition. Since the products are in high demand, more and more sellers opt to sell these products online. So, if the market demand is so high and the competition is so great, does this mean that buying wholesale electronics to resell online is not worth it?
No, it only means you have to find a market niche that is not quite as well supplied as laptops market or the smartphones market. By doing this you will be giving yourself a much better chance to succeed. Of course, this requires that you do some market research to find the exact niche you are in conditions to enter. It is always crucial that you do your research and plan ahead to boost your chances of success.
Choosing Your Supplier is Crucial
Remember that you need to be able to attract customers, which is not that easy even if you are operating within a niche market. You still need to offer quality products at competitive prices to lure your clients. And this requires that you find a reliable and cheap wholesale supplier to bring a steady influx of merchandise for you to sell.
In any case, the basic rules are simple: buy cheap to sell at a competitive price and still make a profit. In order to do so, here are a few guidelines on where to source your wholesale electronics, so you can jump into the market and take advantage of the high demand on electronics. Otherwise, you could be passing on a great opportunity.
Sourcing Wholesale Electronics
Research is key when it comes to buying wholesale electronics or any type of wholesale merchandise, for that matter. What you need is a partner that you can trust, first of all. For that, you should find a wholesale supplier that has been around for a while and has accumulated great reviews by clients and partners.
To be more specific, before buying through an online liquidation auction, you need to find out as much as possible about the company, check their references, their partners, their services, their history and client reviews and only choose the ones with the best reputation. This will guarantee you the quality of the merchandise and also provide you with a continuous influx of merchandise.
However, buying wholesale electronics means your profit margin is rather slim, since the prices of these items, whether they are smartphones, laptops or even accessories, are currently very close to wholesale on platforms like eBay or Amazon. What you need to ensure you get a healthy profit margin in the end without scaring off potential clients is to buy at prices even lower than typical wholesale.
If you think this is impossible, think again. You can achieve this if you forget about traditional wholesalers and purchase wholesale electronics through liquidation auctions instead. Doing so gives you the opportunity to bid on pallets of products and purchase them at prices even below wholesale, increasing your profit margin.
Is Quality Compromised?
New buyers often wonder if the low prices practiced at liquidation auctions reflects the low quality of the products being sold. That is not at all the case. There are plenty of reasons for those low prices, and they often have nothing to do with the quality and condition of the items.
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The thing is, reputable liquidators like Direct Liquidation often have exclusive partnerships with retail giants. The liquidator provides retailers with a platform on which they can sell their overstock, shelf pulls and customer returns directly to businesses. This allows them to recoup some value on products they can no longer sell as new and that is at that moment occupying precious storage space.
Many of the products are therefore like new, having not been used at all, or only slightly used. That is not to say that you won’t find some lots of damaged products, but that will be clearly indicated. Moreover, reputable liquidators will always provide their customers with manifests detailing exactly what each lot contains and its condition. So there is no need for you to worry about the quality of what you’re buying.
Liquidation Auctions Sell a Lot of Refurbished Products
Another indication that the quality of the electronics you buy is not compromised is that liquidators sell lots of refurbished products. But what does this mean?
When a product is returned, the manufacturer takes it through a series of tests to make sure the product is back to its best condition. Then the product will get whatever repairs it may need to get it back in perfect working order.
The reason for this is simple. Retailers have no interest in having the products returned to them again. Having a product return to the market in bad condition means it will again be returned and that not only costs the manufacturer time and money but also their reputation.
If the product is not refurbished by the manufacturer it will be refurbished by the liquidation auction company’s dedicated department. This is why with Direct Liquidation you get at least a 90-day warranty on any refurbished item you buy.
What is clear from what we have seen in this article is that wholesale electronics are a great way to make money online. These products are always in demand and present a lot of potential, despite the stiff competition. To ensure that you get a healthy profit margin, however, the best option is to source your merchandise at liquidation auctions. You will find that, as long as you do your market research properly and price the items competitively, you will be able to take advantage of this great business opportunity.
Direct Liquidation is a goTRG company.
Jordan currently works as a sales representative for Direct Liquidation, assisting businesses with product sourcing of liquidated merchandise from the largest retailers in the world. Whether you are looking for a pallet or a truckload Jordan is here to help you grow your business.
Schedule a sales callback with Jordan right now.