The category of wholesale product can be a major factor in the success you can expect to have with your new internet endeavor. It almost always drives the type of demand you can expect from your #customers. Wholesale products that customers need frequently are often the best bet. For example, baby products and nutritional supplements have proven to be quite successful. However, fashionable items such as women's clothing have been much more variable in their levels of success.
Products that can be obtained at strict wholesale prices allow you to decide how you are going to market them. You have tremendous flexibility in marketing them as the wholesaler or retailer. This often depends on your desire to be the name on the product or not. Long running businesses with recognizable names would probably sell the products as the retailer. Retailers often package and market them in a manner unique to their business. Wholesalers would market these products to the end customer as products specific to the original wholesaler or manufacturer. Either way, the lower cost gives you the greatest opportunity of making a profit on each sale.
Another factor in the choice of wholesale product is the means by which that product is purchased and delivered. Today, products are usually purchased in one of three ways with possession also being taken in one of three ways. The purchase can be made
- in a traditional brick and mortar store,
- by mail; or,
- online through an e-commerce website.
Possession is then taken by
- physically picking it up at the store,
- receiving it in the mail; or,
- downloading the product over the internet.
Many start up businesses are taking advantage of the internet for both product purchase and product possession. In fact, many traditional #businesses are simply treating the internet as an additional point of purchase and / or an additional distribution channel. And, there are no limitations on the combinations of these channels that may exist for any one entity. These days purchases are made on company websites with the products being picked up by the customer, delivered by post or downloaded online. At the same time, software, books and music are some of the products that can be downloaded no matter where and how they are purchased.
By keeping these factors in mind you can effectively choose the right product for your new internet business.