Introduction
Are you looking for a new and exciting way to source products for your eBay business?
If so, you may need to find the perfect items to sell and the way to source the product.
In this article, we will discuss how to find a proper product and share the ways of product sourcing for eBay
We will also provide tips on how to choose the right wholesaler for your needs.
So, whether you are just starting out or you are looking for new products to add to your existing inventory, read on for some valuable information.
The blog will include the following content:
Importance of Product Sourcing for eBay
How to choose a proper product for eBay
Ways to Sourcing products for eBay
Tips about qualifying reliable suppliers
Why choose Pangea Sourcing
Importance of Product in the eBay business
In the e-commerce industry, procurement and supply chain lay the foundation for product selection, pricing, and supply, etc.
Some sellers claim that the competition of e-commerce businesses in the future is more of a supply chain competition.
With the rapid development and upgrading of the cross-border e-commerce industry, more and more people are joining, traditional enterprises are getting involved in the e-commerce business, and the capital companies are flooding in with huge capital.
The competition in the e-commerce industry is getting more and more intense, but the value created by e-commerce to customers is still realized through products and services.
And to have quality products and services, we must have a strong supply chain as a strong backer. Besides, we have to focus more on the key to enhancing the product development, research, and development capabilities, and supply system management capabilities.
Now there is a saying in the industry: e-commerce has entered the era of “product is king”, and the product is the core element of the supply chain, the latter is an important and indispensable part of e-commerce companies.
How to choose a proper product for eBay
Finding great product ideas from the real world
The Internet does have its temptations, but it also has its drawbacks, because most people start their product research on the Internet, and the search volume is concentrated on the Internet, which means there is more room for research and plenty of opportunities in the real world.
Secondly, what you see on the internet is usually second hand and the information is even lagging, but when you go back to the real world and communicate with those real customers, it’s easy to find out what they like and doesn’t like.
Focus on your own interests and related products
Everyone may have their own interests, your hobbies may be more niche, attracting people with certain types of characteristics, then you can naturally easily find a gathering place for this type of people.
The more you love this hobby, the more you know about products related to it and the better you can bring them to market, and this process will save you weeks or even months of the time when researching products related to it.
Here, too, is a tip for you. If this product that you are interested in is already listed as a category on Amazon, that means you are on your way to success. Because someone is already making money on this type of product.
Products you hate
In the previous method, it was about products you like. Here, we do the opposite and look for products that both you and your friends hate.
When you hate a product, you must have a reason to hate it.
Take a pen and write down the name of the product and the problem you think the product has. Finally, write down all the ways you think the product could be improved.
Is it design, packaging, or functionality?
There are many great products and companies that have succeeded by improving an existing product or filling a gap in the market.
A good example is Steve Jobs’ Apple. Before the introduction of the iPhone 3, was there really no full-screen phone on the market, obviously not, as far as I can remember, LG and even some domestic brands had launched full-screen phones, but eventually Steve Jobs unified the full-screen phone market with a smoother operating system and product design.
for a product evaluation, with a common product experience, friends around you can also give their opinion, listen to their complaints, ask their evaluation of this product and this market, what they want to buy, what products they want but not on the market.
Keyword Analysis
Let’s return from the real world to the Internet, and it’s time to mine the data from the Internet.
But before you start, a word of caution, don’t waste too much time analyzing more data and results than you actually need.
Especially for beginners, if you just want to understand the demand and search volume of such products in the current market, then start with keyword research, through which you can easily find what people are looking for.
When it comes to keyword research tools, there are a lot of them, from free Google keywords planner to paid software like Afrefs.com, Smerush.com, Spyfu.com, and so on.
With keyword analysis software, some of the data you get probably looks like this. The screenshot below shows the keyword analysis results of Google’s keywords planner, which includes the monthly search volume.
How do further explore product opportunities through keyword analysis? We can try to look at it from several angles.
- Brand words
Search for some well-known clothing brands, such as American Apparel, Zara, GAP, and Oscar Mike, you can use such clothing brand words to understand the styles and even colors that people are interested in.
But this approach will generally target companies with large brand strategy plans because it is difficult for small e-commerce companies to create segments from brands
- Niche words
In the keyword tool, use the keyword search suggestion function. If you search for product sourcing, you may get some other useful information, such as product sourcing companies, product sourcing 101, product manufacturing sourcing, product sourcing for ebay, and these key and related products may be your niche.
- 3. Category words
Find some meaningful products by some basic product words, which are not as specific as succulents, that may be a general term for a certain category of products. For example, Men cloth
I searched “Men cloth” on the keyword planner, I will get the following results. You’ll find a number of words derived from Men cloth that you may not have seen before. Each of these words may be a market segment with different potential. Starting with a few smaller markets is actually a good starting point for sellers just starting out.
- 4, Competing words
If you have identified which vertical segment you want to enter, then you probably know very well who your competitors are.
. Then it’s a good idea! Study them, analyze them, and compare your positioning according to them, price, style, crowd orientation, packaging design, etc. are all things that can be compared and differentiated.
- 5. trend prediction
If you want to find a profitable niche, then you have to really be at the forefront of new products, which means you have to pay attention to online trends in real-time and capture opportunities before they become “fashionable”.
- 6, Tools to analyze trends
Use Google Trends (Google Trends) to see the effect of the search term. For example, enter the keyword – paleo, and then click on the “search term”. You can see the trends for protein bars over the past few years.
- 7, focus on industry leaders
Even if you do not know about the product, you can certainly find people who do. Then go to focus on these people well, sometimes, insiders will find the trend first.
To do this, you need to find blogs and publications that are dedicated to your niche. These places are always on top of new product trends and are a great way to stay up to date.
Check these sites regularly when you’re in the product idea stage – at least once a week, and if you can, several times a day. The goal is to find the concept before it becomes mainstream.
That’s why many people will follow some of the darker channels on YouTube and go to channels like As Seen on TV in the US.
- 8, Follow product review sites
Once a product enters a product review site, it means it has started to become popular.
But it may also be a perfect opportunity to find out where the product is going before someone else starts selling it. To use this method, you have to find the niche review site that corresponds to the product
As an example: if you sell men’s fashion products, you can find some inspiration on sites like Uncrate, Cool Material and Snazzz.
Industry websites and forums
The best forums are Reddit and Quora, as well as industry-specific forums that can be found.
First, search for subreddits – separate topic categories in Reddit. snoopSnoo is a great tool for finding relevant subreddits.
Search for topics and it is recommended to search only communities with more than 1,000 subscribers so you can find active subreddits.
Image Select any subreddits that look promising. clicking on the / r / subreddit link will redirect you to the details page.
From there, you can view the content of the subreddit.
Here you can find high-quality product reviews and complaints and get an accurate picture of what your niche fans think about different types of products.
(Tip: Reddit doesn’t like self-promotion, so it’s not a good idea to post a product on Reddit after you’ve developed it. It’s also not a good idea to post surveys or ask for feedback. Just use it for browsing and learning.)
Another useful forum site is Quora. Quora allows users to ask questions in specific niches and get answers from other users.
Visit Quora and search by your niche. Explore the posts made in that niche and keep track of the types of questions asked and advice given.
Finally, you can find useful information on industry-focused forums.
Use the phrase “allintitle” to limit your search results to pages with “forum” and your product category in the title.
You will get a list of forums where people can discuss the pros and cons of different products.
Again, the goal is to find specific feedback on the different features of popular products. In one forum for gaming seats, back pain was the most complained about.
Social Media
Look at the social media you already know and are using. Facebook, Twitter, Instagram and LinkedIn can provide a lot of feedback on products that customers are interested in buying.
Social creative sites
These sites alone include Pinterest, Fancy, Wanelo and some crowdfunding sites.
When your marketing targets women, Pinterest is the first place you want to go to find Pinterest pages for products that are similar to your niche.
And on fancy, you’ll find a variety of products in different categories, as well as reader preferences and lists. It’s easy to see which types of products are growing in popularity and which ones are declining in popularity.
Ways to Sourcing products for eBay
For most people, they may not have the advantage of the supply chain. Most of the products of small online shops are dependent on others, which means that your online reputation is in the hands of the product manufacturer. If you are not careful, your business will suffer losses.
But fortunately, there are only four mainstream product procurement forms on the market at present, For reasonable use, you can use the right way to obtain products.
Made by yourself
The first option is to make your own product, and if you decide to sell your own product, consider this type of sourcing first.
Usually, the seller already has a large number of molds, and the low cost of mold opening means that the manufacturer has a large number of exclusive products. Buyers can not only follow their product from start to finish but also participate every step of the way
advantages
- Products can be produced quickly and easily.
Do-it-yourself means lower start-up costs compared to other types of procurement.
- Have control over the product.
Absolute control over brand, quality, and pricing.
- Adaptable and market sensitive
Manufacturers are always quick to sense market changes and can stay ahead of the curve by quickly modifying products when necessary.
- Be the spokesperson for your product.
You will be known as a product manufacturer, and many people will come to you to work with you to further expand your business.
Disadvantages
- Difficult to scale
Owning your own brand means you have to be able to shoulder significant changes and decisions.
- More time investment
It may not cost that much to start up, but it takes a lot of time to come up with a quality product.
- Supply is limited
The number of products you make yourself, depending on your time, is hard to increase in efficiency.
Suitable for which sellers?
If you also have the ability and desire to develop products, such as beauty purveyors and bespoke clothing designs, then get started. Making your own products is the best way to develop a new brand.
There are many DIY lovers we can find on eBay or other e-commerce platforms. They make handmade lanps and beading designs with the raw materials bought from the internet.
Risk
There are not many risks associated with making your own products. You don’t need a minimum order, and you don’t have to worry about finding a reliable supplier because you are the supplier yourself.
If you want to, you can even make a product as soon as a customer places an order, and very few things are out of your control in this process.
Profit space
When you make your own product, the profit margin is also very good, but always remember to factor in your time as well.
Some sellers will see their time as free, but this is very unreasonable. When calculating the cost of a product, be sure to include your own time as part of the cost of the product.
For example, if you make $100 an hour, when you sell a hand-woven headband for $30, the material cost is $8, and it takes 2 hours to make, the time cost is $28.
Then You are losing money with the product price.
Finding manufacturers/OEM
Assuming you have an idea but don’t want to go through the hassle of manufacturing everything yourself, finding a factory is a great way to save you time and focus more on marketing.
China’s manufacturing power can serve as a very useful weapon for people who choose this way
advantages
- Lowest unit cost.
OEMs offer you higher margins on your products because they have the lowest unit cost. You will spend less money shopping on this route.
- Brand control.
It can also build your brand around products. You are free to shape your product in any way you want.
- Quality control.
This approach also gives you a feature that wholesale purchases don’t have – the ability to control product quality.
disadvantages
- You can be cheated.It is not uncommon for factories to abscond with cash, a risk that could cripple any business.
- Minimum order quantity look for factory OEM, out of the private mold generally need the minimum order quantity, looking for factory customized products may make your wallet bleeding. For many cash-strapped startups, this can be a fatal flaw.
Suitable for which sellers?
If you’re designing a new gadget or device, getting someone to do it for you is really the only option.
Contract manufacturing is also a good option if you have tested the product well and are completely confident that it will sell and bring you profits.
risk
Finding a subcontractor involves a lot of risks.
Buying ahead of time without any guarantee of sales is your biggest risk.
Manufacturers have minimum orders most of the time, so it is important to discuss with them to understand minimum orders and how they can be arranged in advance. So as to minimize the risk.
Profit space
Different manufacturers, products, and the number of products your order all affect the profit margin.
Compared to other methods (such as dropshipping or wholesale procurement), OEM mass production can bring the greatest profit to your product.
Wholesale
In order to ensure the long-term development of business and profit control, you need to reduce the cost of product procurement as much as possible.
Bulk purchasing is a common strategy used by e-commerce companies. Buy goods in bulk at a very low price and resell them at a higher price.
In fact, this is the strategy used by most brick-and-mortar retailers, such as Walmart, Costco, and other large supermarkets, which buy in bulk from manufacturers to keep the cost of purchasing a single item low.
This is also the approach that many e-commerce companies are currently taking.
Advantages
- Saves time and reduces hassle.
Since the product is already manufactured, you can focus on developing the market.
- The product is market-proven already
Getting a product from a wholesaler means it doesn’t have to be a completely new concept. Using a product that is already in demand in the market may reduce risk.
- Brand recognition
Wholesale goods have recognizable brands. The goods have already been tested in the market, and the customer has less doubts about them and is more likely to accept them because there is also less risk.
Disadvantages
- Fierce competition.
When you buy a product in bulk, anyone can follow it, and there are already many wholesalers and retailers who buy and redistribute it.
This can be a challenge if you are trying to differentiate your product in the marketplace.
- -High competition means low profits.
If there are many similar products in the market, the profit margin for the product will be limited.
Which sellers are suitable?
Since the product already exists, wholesale is usually the fastest product you can start selling as well, and you just need to buy it.
If you plan to sell specific brands of products that are also great, that’s fine too.
Because these products don’t need to be re-molded and manufactured, this allows you to get your sales program online faster.
Risk
The risk of wholesale products is relatively low. Since the products are already proven, the most likely risk of stalling is that you underestimate your ability to sell, resulting in a large inventory that ties up the business’s working capital.
And the biggest risk is that you face stiff competition. There is no differentiating factor for your product when buying wholesale, which can make it very tough to enter the same field of competition.
Profit margin
Wholesaling is one of the most profitable ways to purchase products after they are available in finished form. Although there are no guarantees, profit margins of about 50% are common.
Dropshipping
Dropshipping is a model that allows you to sell without stocking up or purchasing in advance.
You can consider using one piece shipping for your online e-commerce business to reduce overhead and capital investment.
It is based on the principle that a third party is involved in delivering the goods to the customer.
The main difference between the dropshipping and the traditional B2C seller is that the dropshipping seller does not own any inventory.
If the customer makes a purchase, the third party must pack and deliver the goods.
If you have a low start-up budget, then dropshipping is an excellent choice to build a starting point.
It can provide you with many products so you can find out what your customers like.
Pros
- Less money.
One-piece shipping is probably one of the easiest and cheapest ways to run an online business.
For entrepreneurs, it is possible to take this approach to enter the cross-border e-commerce industry without having to invest a lot of money in the start-up phase.
This is because you won’t have to incur product costs unless a customer places an order to buy.
- Convenience.
This is one of the main reasons why it has become the preferred model for many e-commerce businesses.
As long as you have a reliable one-piece shipper you can work with, you can run your business from anywhere in the world without having to worry about where you are located.
- A wide variety of products.
One-piece shippers can offer the largest variety of products to their customers. The advantage is that you don’t have to buy the merchandise, but the customer can choose from a wider range of products.
Disadvantages
- low-profit margin and High competition.
Because it has a very low barrier to entry. Everyone seems to be doing the same thing for a period of time.
Competitors may offer “more attractive” prices to their customers, and may even compete at lower prices. Meaning you may need to try other channels to get sales.
Which sellers are suitable?
One-off is for people who want to take a little risk or invest little time in trying an e-commerce business.
By far, it’s also the fastest and cheapest way to get started. If you want to try something without spending a lot of time or money, this may be the best option for you.
Risks
In reality, there is no risk in opening a one-piece e-commerce business because one-piece shippers can take care of all the risks for you, such as orders, inventory, and delivery.
However, there is a huge risk to your long-term profitability. Low-profit margins mean you will have a hard time getting new customers because you may not have much of a marketing budget.
And it’s also the easiest business that others can replicate, so you need to keep a close eye on the competition.
Profit margin
Since the products purchased already include logistics costs, the profit part of the supplier, your purchasing costs are not the lowest and profit margins will be equally limited.
Tips about qualifying reliable suppliers
The quality of suppliers depends on two respective, one is the development and selection, second is their potential, which means they are worth our cultivation.
From the perspective of selection and development, the focus is on the supplier’s own qualifications, such as.
- The supplier’s own R & D capabilities to sustainably develop new products.
- OEM/ODM capability.
- High-quality raw material supply channels.
- Quality and stability of the production.
- Flexible production capacity to ensure timely supply.
- The high degree of cooperation.
- Cost control advantages.
- Complete product certification.
- After-sales service capability.
- Integrity.
- Company qualification and scale.
For suppliers with key capabilities and potential, they are worthy to be cultivated and supported, It’s necessary to create a long-term relationship with the suppliers with potential.
Why choose Pangea Sourcing
If you’re looking for the best product sourcing in Australia, then you need to look no further than Pangea Sourcing.
We have factory partners in China, the United Kingdom, Hong Kong, and other markets that can provide you with the best quality products at the most competitive prices.
With our vast experience and knowledge in the industry, we can help you source the right product for your needs and requirements.
So if you’re looking for a reliable and trusted product sourcing partner in Australia, then contact Pangea Sourcing today!
Conclusion
eBay is a popular online marketplace that millions of people use to buy and sell products.
If you want to be successful on eBay, it’s important to source high-quality products to sell. In this blog post, we’ve outlined how to choose a proper product for eBay and shared some tips about qualifying reliable suppliers.
We also highlighted the benefits of working with Pangea Sourcing – a company with years of experience in Product Sourcing. If you need any help sourcing products for your eBay business, please don’t hesitate to contact us.