Using an Online Marketplace for Sourcing Your Products
You can’t build a business without services or products to sell, which is why if you’re a retail company, it’s crucial for you to find the best suppliers and commodities in the industry. Explore these 4 modern avenues for product sourcing.
Every week, thousands of industry-specific wholesalers across the nation join expos to showcase their products and promote their services. These events also serve as a venue to discuss current fads and future trends. If you’re interested in attending, start looking for these sales conventions online. There are many websites to check schedules and ticket prices. You can get a buyer’s pass for free or for a small fee.
It’s a great idea to frequent trade fairs to scout for suppliers or excellent products to sell. Meet and learn from wholesalers, manufacturers, and innovators face-to-face. And, if you want to partner with them, make an impression that you’re good to do business with.
Looking for suppliers in an online marketplace doesn’t just mean finding digital stores or internet-based companies. Chances are local shops are already on the world wide web, too. You can enter an industry-specific commodity on Google, Bing, or AOL. Add a “near me” phrase after it, and search engines will show a list of nearby vendors that carry the product. What’s great about this is there are customer review websites to check and learn more about the rating of merchants and the items they sell.
Tons of local entrepreneurs will appear in the search results, so how do you filter out the best ones?
- First, get the business names of those with high ratings and good reviews
- Second, send them a request for proposal (RFP) or request for quotation (RFQ).
- Third, select those with unique selling propositions.
- Fourth, present the shortlist to your team so you can work with them in conducting the final selection and approval of your company’s suppliers.
Most of the big cities in the U.S. have dedicated trading places called market centers. They’re full of manufacturer and direct supplier showrooms where you can buy products at a wholesale price. Vendors give huge discounts and offer amazing deals that’ll benefit your business. Where can you find information about these exclusive clubs? They’re on the free online marketplace.
But, you can’t just waltz in these market centers. You have to apply for a buyer’s membership first and pass their strict qualifications. Typically, you need to present a valid resale tax certification, a registered business name, and proof of an online or brick-and-mortar shop. You can visit their website for more details about how to carry on with the enlistment process.
Here’s another great place to find trusted suppliers: TradeBeyond’s online marketplace management application. Our program scours the internet for manufacturers and wholesalers around the world who might just be your next supplier. It shows you an organized list of vendors, complete with product pictures, customer reviews, and performance ratings.
Find the supplier that’s aligned with your business goals with the help of TradeBeyond. Our online marketplace creates the perfect venue to not only source products, but for retailers, brands, suppliers, and factories to connect and organize.
Got questions? Chat with a representative on our website, or contact us at email@example.com today!