I was reading the eBay forums today and saw a workshop forum thread on a subject near to my heart – 7 Essential Elements of Successful Product Sourcing. It’s actually 10 essential elements, but who’s counting? I can really vouch for element #5 – Don’t Turn a Supplier Down on Price Alone. This is something that isn’t often talked about in product sourcing circles, but you won’t always know about the best pricing when first sourcing a product from a supplier.
The truth is, they won’t always give you the best pricing right up front. This was the case with a cookware line that we started selling on eBay last year. Our first price was from the “internet” price sheet which was about 5 percent higher than the other wholesale price sheet.
We went with it anyway, and after turning a few orders around, we were (not so mysteriously) switched to the more favorable pricing. Not only that but our rep ‘suddenly’ told us about a free freight allowance deal that had been going on for some time but that we were not previously aware of.
So the point it is if you’re sourcing a product for resale on eBay or your website, don’t always assume the first price you get is the best pricing. If the product looks promising, stick with it a bit and you may get access to a different level of pricing. Not all suppliers work this way, but for the suppliers that can be flexible, stick around if you can, to see what kind of deals you can obtain.
You may think these kinds of deals only fall to the big players, but they are actually exist all levels of business. For tips on locating suppliers and sourcing product for eBay, check out the Auction Research System.