Hi everyone.
So, my wife and I are in the prices of starting an online store. One of the things I'm still struggling with is stocking. How do I figure out what to stock and how much? A lot of the manufacturers I deal with don't drop-ship, so that option's out.
Thoughts?
Thank you!
- Chris
Re: Online store - stocking
Hi Chris,
What type of store is it? One route you may try taking is seeing if your suppliers will extend you a credit line. Basically they front you product and you pay for whatever you sell and return whatever you don't in a specified amount of time. That's an ideal business partnership if you can get it. When you are just trying to understand stock levels for your store another route to approach is to buy the minimum for everything. Track sales closely and make future purchases decisions accordingly. How well will your online store be promoted? Is the design good?
Re: Online store - stocking
If you can't calculate yet on how much items or products to stock, then don't do it yet (specially if they are perishable goods). What you can do is you can add a note in your site telling the clients on how many days they should expect the products in their door steps. If you do this, after two or three months, you will be able to have an idea on how much items you should stock.
Re: Online store - stocking
Looks nice? But why would anyone buy from you when they can get it from a brand they know and trust? Not saying this to be harsh, but it's something important to think about.
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Re: Online store - stocking
Chris, I can only wish you good luck
Re: Online store - stocking
I agree with taking your time... It might be a mistake to start stocking products without any sales history. I would pay a little extra to your suppliers to ship to you quickly, and then try and build up a few sales before you order from them.
You can try and sell products slightly under market value so that your customers won't mind waiting slightly longer for their products. Once you have some sales history you can cut your shipping time and raise your prices to market value.
Re: Online store - stocking
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Re: Online store - stocking
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Re: Online store - stocking
It is a great stocking stuffer idea. Totally great for women too, but I know people get stumped on what to buy men 🙂
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Re: Online store - stocking
It might be a error to start supplying goods without any sales history. I would pay a little additional to your suppliers to boat to you quickly and then try and construct up a few sales before you order from them. You can try and sell products somewhat under market value so that your customers won't brain waiting somewhat longer for their products. One time you have some sales annals you can slash your shipping time and raise your prices to market value.
Re: Online store - stocking
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Re: Online store - stocking
Wish you all the best for starting your business. I hope you will success in future via this business.
Re: Online store - stocking
Eventually, it's an ideal idea to starting online store and perhaps you have difficulty in choosing stock. But, let me tell you that an online investor can choose stock screening sites for stock. So, promoting your store with latest stock brings customer for you.
Re: Online store - stocking
what is the website for your store?
Re: Online store - stocking
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