Are you a business owner wondering how to earn money online at home? Wish to take your business online but skeptical? Want to learn how to grow your sales? Have these questions always been on your mind? Start your own online reselling business and start making money.
Before that, you must understand the reason behind the sudden growth of the online resale community and the importance of going online, especially for small, medium businesses.
According to the recent statistics, the Indian e-commerce industry is set to grow to $84 billion by the year 2020, despite the recent coronavirus pandemic that has stunted economic growth throughout the world. It has also been projected that online shoppers are bound to increase to a whopping 175 billion by the end of 2020.
These are only a few statistics that guarantee that the e-commerce industry in India is bound to only grow in the future. In February of 2019, the USA recorded higher revenue from online stores than the retail stores. If we concentrate on the rate at which online sales are increasing in India, we are on the path to follow the same trend.
If these predictions are true, then going online no longer remains an option, but it becomes a necessity to thrive in this growing online world. The recent coronavirus pandemic has also resulted in a change in customer’s preference from the normal brick and mortar store to online stores to limit contact with other people.
The Online Reselling Business Model
- Starting an online reselling business and becoming a reseller is the best option for couples who wish to start a business of their own. You connect with a manufacturer and resell items online to your customer base. Unlike a distributor, there is no need to purchase goods or maintain an inventory. This means you don’t have to worry about storage space, emptying the inventory, purchasing new stock, etc.
How to Start an Online Reselling Business?
There is no doubt that the process of being a reseller online is highly simplified by Shop 101. However, there are a few things that one must do to achieve success on this platform:
Choose the Right Product
When you resell items online, you should have some knowledge and interest in them. Don’t choose popular products. Even if it is a less popular product category, you have the opportunity to create a niche for yourself if you understand it. This makes you more convincing as a seller.
Set Realistic Margins
Of course, there are no restrictions on the margin that a reseller online sets. However, thorough market research is a must. If not, you will fall behind in the competition. Providing great quality at reasonable prices is always the mantra when it comes to building a successful business.
It Needs Time and Effort
From choosing the products to ensuring that they are delivered to the customer on time, an online reseller has to invest a good amount of time and effort. You should also be willing to replace damaged products if any. This creates a good rapport with your customers, increasing their chances of returning to your store.
Top 5 Reasons Why the Online Reselling Business Has Boomed In Recent Times
The number of people who are online is increasing rapidly. Having an online store means that you can cater to a customer base that is not limited by physical borders. The online business enables you to reach people from all over the world. A larger customer base translates to better sales.
Earn More Money
An online store gives you the freedom to price your products at an amount you deem fair. Also, a global audience means that you might earn in foreign currency like dollars which, when converted to rupees, can fetch you more money than what you would have earned in the local market. More and more businesses are hence listing their products to be resold online.
Rise of Housewife Entrepreneurs
Many housewives have seen these resale apps as an opportunity to be more independent while still being there for their family and children. This online reselling business is not time-intensive and therefore, provides a great opportunity to housewives to become small-time entrepreneurs and be resellers online.
There are fixed hours when it comes to resale. Similarly, you also don’t need to have an offline space to conduct the business or go to the office. You can work from any part of the world and sell to customers regardless of location.
Extra Source of Income
The resale business also acts as an extra source of income which many full-time working professionals can also undertake to earn extra income. The recent coronavirus pandemic has also led to people seeking an extra source of income due to job insecurity and instability, leading to a boost in resale apps.
Reaching Out to Customers
Resale business is conducted through social media channels, and most purchase intents of the customers begin online. By conducting the business on social media like WhatsApp, Facebook, Instagram, etc., the business owners can meet customers online and lead their purchase intent to an actual sale.
The Emergence of Online Reselling Apps
With more and more people learning how to earn money online at home, more people are developing apps like Shop101, etc., that make this job easier. Shop101 is an online reselling app that lets anyone start a reselling business from anywhere, without any monetary investment. With more people and also business owners learning about it, these apps are booming and also providing a great opportunity to take their business online.
The list of things that one can sell online is infinite. But, some business ideas are set to thrive in the online domain. Some of these are as follows:
- Fashion apparel
- Upholstery like beddings, curtains, etc.
- Handmade jewellery
- Handmade accessories like paintings, jewellery, etc.
Why Become a Reseller?
Hassle-free sourcing of diverse product ranges, minimising the risk of loss and lower business costs are compelling reasons to undertake to resell products online. Plus, online resale business requires minimum time commitments to run and manage which is beneficial, especially for stay at home moms, as they have to juggle between a number of roles.
Shop101 is an online reselling platform that allows you to start your own business while managing your family. All you have to do is register as a reseller and choose products to sell from the ones listed on the app. Share these links on your social media and wait for orders to come in!
Here are a few reasons why selling reselling products online using a platform like Shop101 is profitable:
Wide Range Of Products To Sell
Since you are not manufacturing any products, you can list a diverse pool of products on your platform to sell on a platform like Shop101. You might start with any niche item like shoes, and later add other products like clothing, jewellery, accessories, etc. This is a perfect platform for stay at home moms like you who aspire to become an entrepreneur and create a profitable business.
Notably, reselling products won’t cost you any money. However, firmly establish yourself with a niche before switching to other products. Shop101 is the best platform for you to begin your online reselling business.
Faster Time To Market
Since the turnaround time from idea to reality is minimum in the case of online reselling business; the profit margins are significantly high. You can start reselling products on the day you kick start your business. On Shop101, all you need to start off is to choose the right products. Then, start marketing.
The total time required to set up as a reseller of products online is very less, and thus benefits stay at home mothers like you as you can easily manage tasks from the comfort of your home. On top of that, you don’t have to worry about inventory arrival and management at all.
One of the best parts of reselling products online is that you don’t need a physical inventory. There are several drop ship marketplaces that allow you to resell goods while curbing down the need to manage any bulk inventory in advance.
This comes in handy for new stay at home mom entrepreneurs as you only don’t pay for any inventory. Since the infrastructural and other initial costs are none, you can make a substantial profit as a reseller of products online.
Easy To Add On New Verticals
In the online reselling business, there is no restriction as such on what you can sell. The reseller business allows entrepreneurs to test new ideas without the need to buy additional inventory. With trusted reselling platforms like Shop101, you can grow your online resale business verticals with just the click of a button.
Offering resale products online is one of the most flexible business options as you can always take it on part-time with a minimum investment of time. We understand your constraints as a mother, as you have to manage a family along with a business. You can smartly manage your time with your family, and the new venture while being at home. You just need to own a computer or a smartphone to get you going.
In the online reselling business, a number of the processes are automated and can be managed without too much fuss. Additionally, since you can leave the logistics to Shop101, you save time.
Lower Financial Risk
In businesses, nothing is certain. However, the additional benefit of an online reselling business is the low financial risk. An online resale business is the best-suited one for you if you are a stay at home mom who has budget-constraints.
All in all, the financial cost and risk of being a reseller of products online are low.
Set Your Margins
As an online reseller, you can always fix your margins. Since the cost of goods is low, you will always make a good profit on your sales. As your business starts to flourish, higher your margins will be. Make sure to go over all your expenses when determining the margins.
How to Start Your Own Online Reselling Business from Scratch?
Even though establishing an online reselling business is very easy, there are still a few things you need to keep in mind before starting your own business from scratch. Those are as follows:
Start with a Specific Target Audience in Mind
Having a target audience in mind will help you plan how to go about reselling items online in an easier way. A target audience is a particular group of people to which you want to sell your products. You need to make sure that your products are appealing to the people you want to sell them to. For example, the target audience for any kitchen audience would primarily be housewives; the target audience for any stationery product would be students, and so on. Your price range for your products, advertisements, and other marketing strategies should be aimed at your target audience.
Select Your Products
One of the best things about having an online reselling business is that you do not need to be limited to a specific kind of product to sell. You can broaden your product base as wide as you want, without suffering any financial risk. Your products can range from clothing to electronic appliances to pet supplies, or even cosmetics. However, it is advisable to sell products you are familiar with, in order for you to market it well. Only when you know everything there is to know about electronic appliances, can you talk your customers into buying them, or answer questions that they have.
Pricing Products Smartly
The price that you quote while reselling items online should ideally provide you a good profit, as well as be affordable for people in your target audience group. If you price a product too high, you will miss out on the people who could have bought your products had it been a little cheaper. If you price your products too low, you’ll miss out on the profit that you could have earned. Your quoted price should also cover any advertising or shipping charges if they are incurred by you.
Marketing your online reselling business is very important if you want to reach many people. If your consumer group consists of only your friends and family, then a word of mouth publicity is enough, however, if you want to have more customers, you’ll have to widen your reach. Door-to-door marketing will get you more customers, but if you want to reduce the time and effort you invest in marketing, as well as gain more customers in a wider geographical area, the best way to do that is by buying advertisements. You don’t have to spend a lot or use lavish advertisements. Boosting your product post in mediums like Facebook will also do the trick.
Content like blog posts, videos, etc. can help make an online presence for your online reselling business. Quality content will not only help you capture the audience’s attention towards your business of reselling items online, but you can also earn more by monetising your content. Giving out advertisement spots before your videos can help you increase your profit margins, while the videos themselves redirect traffic to your reselling business online.
The above tips will help you start an online reselling business from scratch. How well that business does is directly proportional to the amount of time and effort you put into expanding your business.
7 Things to Check Before Partnering with an Online Reselling Business
if you are planning to team up with another brand, here are things to consider before you enter into a partnership with an online reseller website.
Identify the Proper Online Partner
The online world is full of thousands of sellers and re-sellers. You need to properly study all your available options before you finalise any one seller partner. If you want to ensure continual business with that online partner, you need to carefully collect information about your desirable seller. Study their past record, user ratings and reviews on online forums and marketplaces to get an idea about how they operate and do business.
The more the reseller website is aligned with your brand mission, the better would it prove to work with them.
Understand the Company
Understanding the company that you are going to work with is important if you want to do consistent business with them. You need to be aware of the ways in which your desirable reseller website functions to access customers and sell products. You should analyse the parent company’s direct sales process if possible and then make a decision.
Make sure that your sales partner and your business have the same customer-centric approach to trading. If both of you intend to move with the same customer-centric process, it would be easier for you to sell your product.
You also need to identify and check what kind of products and services your competitors are providing on the same platform. Once you understand the basics of the partner program, you can easily work with your partnered online reseller website.
Identify Your Market
The proper way to select your online seller is to identify the type of market you would be addressing through your sales. You need to have an audience if you want to sell online in large numbers. It is, therefore, necessary you choose a popular online partner (like Shop101) from a magnitude of reselling websites.
You can also select website partners that are popular on social media. This is a good way to drive traffic for the sales of your goods. You can take an extra step to post listings on the platform itself. Wherever required, you can help with cross-promotion or even cross-sales.
Identify the Nature of Your Agreement
Every partnership will call for a formal agreement. When you select your online sales partner website, there will also be a service agreement between the reseller website and your business. You should be clear about the nature of your agreement. It should detail how the partnership will work and what outcome is desired by the deal.
Your service agreement will depend upon the type of business you and your partner have, and the goals that you both want to achieve. Be clear about the same. Some companies may enter into partnership deals to access each other’s fan base. This will encourage sales or online engagement. Some merchant sites may strike up sales and distribution deals. These are common deals where one party agrees to sell the goods of the other.
Study Your Agreement Carefully
Once you enter into an agreement with your chosen sale partner, be careful and study the terms and conditions of your agreement. The base deal will depend upon what you intend to achieve with the partnership. For example, the terms for a social media sales promotion deal will be totally different from those of a product distribution agreement.
You also need to provide details like the minimum orders you can undertake, wholesale and retail prices, payment terms, etc. In the case of retail websites, you need to be aware of your partner’s engagement quotient, i.e., numbers related to traffic, email marketing lists, followers, etc.
You also need to keep your documents ready in case the other party asks for some information from you.
Recognize Your Benefits
Whenever you enter into a partnership with any of the reselling websites, you should stay aware of the benefits that your partnership may bring to your business. You can be part of a bigger network. A good sales partner can not only provide you with the right knowledge about product demand but also better resources to provide new, improved solutions.
Check whether your partnership seller website provides any kind of pre and post-sales support.
You should also calculate your margins before signing up with a new reseller program. Some companies provide educational training or certification programs for their partners. If you are able to get any such benefits, note that it would be a good opportunity for you.
Confirm Your Payment Beforehand
Payments and income are the chief reasons why you would enter into a partnership with any of the reselling websites. If you really want to know how well you are doing in your business, you need to track your profits and budget your costs.
Before you are ready to ship your goods to the seller, make sure that they clear the payment of your goods. This is important because buyers can choose not to pay, or sometimes, the payments may bounce. You need to be cautious and keep your finances at the top of your list. A little precaution is necessary to avoid getting into trust issues with your business partners.
How to Successfully Resell Branded Products Online?
In this section, we’ll explain the techniques that can make your online reselling business successful.. So, let us begin with the #1 technique!
Make Use of High-Quality Images
Often it is seen in this industry that people, after buying products, soon ask to return them. This usually happens because of misleading images or poor-quality images. Hence, the first and foremost technique to make your online reselling business successful is by uploading high-quality images.
This would give a clearer idea to your customers about the actual condition of the product. Moreover, by doing so, your credibility in this sphere would also improve. Remember this- Happy customers are the best source of advertisement. By dispensing quality customer service, your business would certainly be a success.
Thus, ensure that when you are reselling branded products online, you always upload high-quality images of the products.
Draw Up Suitable Profit Margins
If you want your business to survive in the long run, you must draw up suitable profit margins. In the end, it’s all about how much revenue you made and how much expenditure you incurred. The difference between them determines the success or failure of your online reselling business.
With the delivery charges and the logistics charges, there always remains a possibility of going into debt. Always remember the golden rule of online reselling- buy low & sell high. It is highly recommended that you manage all the metric dimensions of your business with an excel spreadsheet. It would keep you organised and well informed of whether you’re making any money or not.
This makes the technique of drawing up suitable profit margins a must for all online reselling businesses.
Use Proper Marketing Channels to Attract Your Target Audience
Without online marketing, you might as well say goodbye to your online reselling business. The proper marketing of your business is can turn your venture into a success. If you don’t market yourself, your audience wouldn’t even know of your existence.
So, how to market your online reselling business? Well, the answer is through social media channels. Consider social media as a hub of your target audience. With proper posts, taglines, descriptions, photos, and tags, you can double your sales within a month. You can perform such marketing techniques on platforms like Facebook, Instagram and Twitter.
Apart from social media, you can also perform the online marketing of your business by running paid advertisements on Google. This might require a bit of technical knowledge, so ensure to consult a professional before venturing into it.
Make Sure You Receive Payments Before Shipping Your Merchandise
Keep your finances a top priority. Many times, it is seen that customers either choose not to pay because of dissatisfaction or simply their payment bounces. Make sure you have a handy system in place for online payments, as well as cash on delivery.
Select Efficient and Cost-Effective Delivery Partners
When you order a product and its delivery a lot of time, how do you feel? You feel frustrated, angry and you sometimes even end up leaving a bad review for the business. Now imagine if it was your business. Get our point? Choosing the most suitable delivery partner is very important if you want your online reselling business to be successful.
Even if you receive thousands of orders in a week, you can’t process them unless you have an efficient delivery and logistics system. Delivering your products on time results not only in customer satisfaction but also in executing more deliveries in a day.
How to Grow and Make More Money in the Online Reselling Business?
This guide is all about how to sell, resell and earn money online and not only this – at the end of this guide, we’ll tell you about the leading online reselling platform that has changed millions of lives.
Here is how you can become a successful online reseller!
Use Professional Images of Your Products
You must be aware of the famous saying, “a picture is worth a thousand words.” Well, in this case, it’s worth a lot of money! If the images you post of your products are pixelated, chances are no one would go for that product. A customer wants to see every dimension and aspect of your listed product. To ensure they can, you must follow some basic photography tips.
Before starting a photoshoot for your merchandise, get your equipment ready. If you don’t have such equipment with you, well it’s never too late to invest!
First things first, you’ll need a tripod to take stable images.
Second, create a white background via white bed sheets or poster board. And last but not the least, artificial lighting. All such equipment would ensure that the images you post of your merchandise are professional.
Once you follow and implement all such tips, watch your sales skyrocket!
Stay Connected with Your Customers via Email Marketing
As unusual as it sounds, email marketing can play a major role in boosting your sales. That’s right! You must be thinking how is this even true? Let us explain.
Email marketing is a powerful marketing tool that keeps your customers in the loop. Whenever a new product comes into your inventory or you’re planning a sale. You can send your customers emails regarding such events. You may think “who uses emails nowadays?”. Well, here are the numbers as proof. Approximately 290 billion emails are sent each day and nearly 80% small businesses count on emails for customer acquisition. Moreover, nearly 98% of users check their emails every day.
This must have given you the idea of the power of email marketing. Want to increase your sales? Start using email marketing today!
Be a Complete Professional
Using professional language, providing swift customer support and answering questions politely. These are just a few of the many ways through which you can try to be a professional. Such factors play an important role in enhancing conversions. When you and your competitor are selling the same product, this factor can become your USP.
“Happy customers are your biggest advocates and can become your most successful sales team.” This quote by Lisa Masiello sums up the importance of being professional with your customers. By providing professional services, you can rest assured your customers would soon turn into loyal customers.
Use Social Media to Efficiently Reach Out to Your Target Audience
Who today isn’t on social media? Through social media, you can directly engage with your customers and drive traffic to your website. But social media would be beneficial only if you use it strategically and wisely. Here is how you can use social media to your advantage.
Before going berserk promoting your products, decide which audience you want to target. This involves selecting that channel that has the greatest number of your target audience. Once you have selected the platform, make a content calendar. Schedule on which day and at what time you would make posts on your profile. Also, decide whether you’ll use pictures or videos for promotions. The final step is to engage actively with your audience.
By following all such steps, social media would become an indispensable tool for you and your business!
Write a Clear Product Description
When you list your products to resell, ensure that the description is clear-cut. It is through the product description that customers would get to know about the product. So, don’t make the product description ambiguous or technical. The most important thing is, to be honest.
Don’t exaggerate the product’s dimensions or its uses. It creates a bad image for your business and can lead to customers leaving you. Hence, clear-cut descriptions are an important part of online reselling.
By following this guide, you would be able to sell, resell, and earn money online flawlessly. Now, let’s talk about the leading online reselling platform as we said we would. Through this platform, you can start your own online reselling business, free of cost! Well, here we go!
How Small Shop Owners Can Stay in Business 24×7 by Reselling Online?
As the offline business requires advertising, in a similar way, online business does too. It is necessary as it introduces your products to the people. Online advertising is considered quite cheaper than offline ones. There are a number of platforms to get it done. The most effective one amongst those all is social media marketing. It is also easier to reach the correct group of people through online advertising. In that way, you can properly sell items online.
One of the major advantages of online advertisement is that people can immediately have a look at your goods and order the desired ones, which is not possible in an offline business. Also, not many people give emphasis on offline advertisements. Since the world is turning digital, so must your business. In such a digital world, it is quite easier for your business to reach to the customers.
The more discount offers you provide, the more people will come to know about your brand. Even though it is essential for regular products, online resale shop owners should never shy away from giving good deals for their products. This promotes people to purchase the goods in bulk when shopping online. When you have just started to list items on Shop101 to sell items online, providing offers will bring those customers back to your online business. This way, you can start to build your business online.
On providing high discounts on goods, you may not be able to earn high profits. But in the beginning, you must consider the small profits. When your business will grow, and when people start ordering in bulk, you will start to make heavy profits. Moreover, it gives a reason for people to buy the goods online rather than going to offline stores.
When the customers need any kind of help for the problems they are facing to order the goods online, then you should be there to help them. If you fail to do so, they will make a purchase from some other online shop. If you really wish to retain your customers for a very long time, you should keep your customer service to the best possible level. Give them all the information they need, and be active on social media. These are some ethics to sell items online.
Moreover, when the customers have placed the order, ensure that you deliver the goods in the promised time period. The goods must also be delivered in a good state and should not be damaged in any way. You should always be ready to serve the customers the best products as well as services.
Social Media Accounts
Since people spend a lot of time on their social media accounts, follow them there for advertising. You should make the social media accounts of your online store. The offers and interesting deals should be regularly posted there. You can acquire many new customers from social media accounts. A social media manager can also be appointed to do so. They will be responsible for regularly posting something interesting for selling the stock on the online store.
This is easiest as well as the cheapest way to reach people. Interesting graphics on those posts can also attract the people to your store. If you do not follow this, you may lag behind your competitors. Thus, make your online business successful by creating and maintaining a social media account.
This is something that you must opt for when you want to expand your business. This hack is capable of bringing more and more people to your online store. Basically, you give some discount coupons to the customers who refer your online shop to someone else. This way, every time there is a new customer, the existing one gets discounts. These referral codes are really helpful and will provide you with multiple benefits.
This is a technique that is used by many big and successful business stores. It works because it is profitable to both the customers as well as to the business. Therefore, make sure that you prove the referral codes to your customers to retain them and to bring new customers as well.
You might have noticed brands sending you discounts and offers via email during festivals and birthdays. You should also follow a similar approach. It creates a good impression in front of your customers. Also, they feel emotionally connected to your online store when you send them a greeting on their birthday or during the festivals.
Apart from this, you can also offer them some great discounts on special occasions. Research shows that there are high chances that those customers will again make a purchase from such online stores.
How To Set A Good Resale Value For Your Product?
There are many ways you can find the right price to sell your product online. With the combined help of a few factors, you can find a reasonable price and sell items online from your shop. Here a few things to keep in mind:
Knowing Your Customer Is Essential
Knowing a customer is perhaps the most significant thing for a business. You can divide them into specific categories like budget-conscious, convenience shoppers, and high-budget customers. Once you know your target customers, you can start targeting them and generating revenue on Shop101.
Knowing Your Revenue Target Helps In Future Planning
Just reselling products online and earning without any plan or goal is not the right approach for any business. Any small shop owner must plan a revenue target. Doing so will help you choose the right price. Doing this activity will allow you to clear all costs, maintain sales, and increase profit every month.
Knowing Your Competition Gives You An Edge
If your competition is selling a product at a lower cost than you, try to match the price and gain market share. Knowing what your competition is charging can help you understand whether your strategy is correct or needs revision. If your product provides more value to customers, you can charge a bit higher than the competition as customers pay when they feel the product is “value for money.”
Knowing The Market Condition
As we know, the impact of COVID-19 has greatly affected small shop owners. This is where your pricing strategy comes into action. With a good pricing strategy and revenue targets, you can save money for contingency situations like this. In such conditions, you must keep a tab on your competitors and see what kind of response they get on releasing their product in the market.
After considering a combination of these four factors, any small shop owner will be able to open their online resale shop and successfully sell items online for a good profit.
Cost Management in Online Reselling Business
When you choose to sell online, you have to select a medium like Shop101. There you have to pay a certain fixed fee to list your products. You will also have to provide some percent of your revenue on each product to the medium. It will save the cost of setting up a website or an application for your business.
You can also choose the option to get services for your business like shipping, storage, and delivery services. This demands a package amount that you need to pay. If you have an already settled business and are sure about fixed revenue, then this option is excellent.
Cost management is all about managing all the outgoing costs of your company. It includes storage cost, land ownership or mortgage cost, delivery cost, marketing cost, and much more. To earn enough money from online resale and receive good revenue from the business, this article is your guide.Online resale removes the cost of employee salary, delivery of each product, and shop cost. But some costs still need to be considered like warehousing, taxes, marketing, etc. So it would be best if you strategized thoroughly to earn profit from the business. It requires less investment. Thus, you earn more revenue if you use proper strategy.
Cost Benefits of Online Resale
If you are reading this far, then you are from one of the categories mentioned above, and we are happy to help you. You might be eager to know how online resale can help you exactly as you guys know that you will have more people who know about you and your business.
Another significant benefit is that you don’t need to invest anything. If you are running a business offline, you know very well how much investment it takes to start a business from scratch. Buying a place for your business and designing it as per your convenience and hiring employees that help you to run it. Various bills, mortgages, and so many things to worry about.
When you resale online, you save all of this cost! While selling online with a platform like Shop101, you can use all of your money to create your products. This way, you can deliver more products without compromising the quality of products.
You can even grow your ongoing offline business without spending more, like in the case of expanding an offline business. Reach to people outside your city, state, or even country without spending a penny on building physical stores and other related costs. Build a reputation with your business. People will know you for earning money while sitting at home! They will know you for your hard work.
You can get all the assistance for the management of personal cost to get you started with online resale. It is not difficult for people who don’t use digital platforms. There is no limit of age to learning things, right? Get some motivation and earn that extra income along with the respect and dignity for yourself.
Tips and Tricks on Creating an Online Product for the Best Reselling Business
Here are a few tips and tricks to sell online:
Plan Your Roadmap
The internet offers a unique advantage – access to a wide range of customers for your business. It can be overwhelming for any online reseller at first. However, similar to the variety of customers, there are thousands of websites competing for buyer’s attention. First of all, as an online reseller, a compelling website is the pivotal part of the campaign as it will drive traffic, and in turn, buyers for your products or services.
Notably, to operate an online store, the budget requirements are significantly low compared to a brick and mortar shop. Platforms like Shop101 make the process even easier by offering free websites. Planning a proper strategy for your business, along with adequate time allocation for each task, can aid you in the long run.
Every field has its hurdles in the starting. So, stay put, even if things seem to be moving at a slow pace in the beginning. As you put in more time, effort, and keep promoting through various channels like social media, email marketing, SEO, paid to advertise, and online campaigns, the more you will sell online.
All these seem to be a lot to keep track of, but once you get started, there are a number of online resources that will help you in managing all these sales from a single dashboard. For becoming a successful reseller online, you should keep investing energy into your store to grow the customer base.
What to Sell?
If you are reading this blog, you already have the answer to this question. And let us reiterate that “every idea is a good idea”. In case not, there is neither any specific answer to this question nor any wrong answer.
However, we would suggest you do proper market research and pick a product keeping things in mind like:
- Market acceptance
- Your expertise
- Product demand
- Level of competition
- Size of market
Besides all the advantages, to sell online, products require handling and logistical costs. There are digital products like software, music and ebooks, which can be delivered instantly, while others need home delivery. Targeting your market space is a vital part of your businesses’ well-being.
Shop101 allows you to bypass this as well, by handling the shipping and logistics for all their resellers. So, all you need to do is simply place your order, add your information and product cost and sit back and relax. Shop101 delivers your product, collects returns and even collects COD payments for you!
The USP of Your Product
Answering the “whys” of every step in your marketing campaign is the only way of becoming a successful reseller online. And the first of it is- why would any customer opt for your product? Some probable answers to this question are- is your product unique? How is your product different from others selling out there? What is the USP of your product; fashion, support, comfort, fun, or all four?
It’s not the product that always sells; it’s the engaging story around it. A compelling story of your product is what you need to seek and then encapsulates it with words, images, or videos. The emotional hook is what you need for initial customer engagement.
Make It Easy for the Buyer
The attention span of any online visitor is small. In general, you will have about 10 seconds to grab your buyer’s attention and hold it after they land on your site. We recommend you to avoid any pop-up or distractions in their way and try to direct them straight to the product. Visitors tend to switch sites if they find a lag or hassle while traversing.
Here are some key things to keep in mind when it comes to customer engagement:
- Don’t make visitors do things like register or sign up while they land on the page.
- Keep the navigation of your site as smooth as possible. Maintain consistency regarding navigation on all the pages.
- Try to keep the buying process as easy as it gets. The more steps you put in, the higher is the probability of a buyer to abandon the purchase.
If you wish to get a feel of how to design your purchase window, try to visit various e-commerce sites.
Top-Notch Customer Service
Do you know that 86% of buyers are willing to pay for better customer experience? Focusing on customer satisfaction is the key to luring returning users. If any shopper buys with the reassurance of a top-class service, he/she is more likely to shop again from your website.
Besides all the internet-based staring and feedback mechanisms, word of mouth is still one of the strongest techniques of business expansion. We suggest you opt for refunds and hassle-free returns; in case the customer is not satisfied. Additionally, a secure and verified payment gateway is a way of showing customers that you care for them.
Smart Analytics-Based Promotion
Similar to brick and mortar stores, promotion of your site is important if you want to sell online and drive traffic. With the advancement of technology, you can now integrate chatbots into your website for aiding customers in purchasing. Thanks to smart and metrics-based audience targeting, you can SEO your webpages to advertise your website to any specific user’s device.
While doing SEO, put yourself in buyer’s shoes and use keywords that users will search on Google for finding products that you are reselling. Try to conduct surveys and visit Google Keyword and Search Console for better targeting. Seeking feedback and recommendations from your buyers can also give you useful insights. Analytics and marketing are a continuous process, and you will need to invest a substantial amount of time regularly for your promotion.
Giving Irresistible and Unbelievable Offers
Just a good product with a luring story is not enough if the product is too costly. You must have seen the commercials on TV or magazines selling products; they try to carve out a sense of urgency in buyers to own these products as soon as possible. Else, the price will go up soon, or products will be out of stock. And, they sugarcoat it further with an additional free product. This tickles the buyer’s subconscious mind to own the product.
Top 5 Quickest Products to Sell for your Online Reselling Business
In recent years, with the fashion industry and several NGOs continually working to put the focus on Indian artisans and due to the growing influence and reach of social media- Indian handicrafts have been witnessing a growth in demand, not just in India but around the world. More importantly, this is a low capital investment industry with high consumer demand, which makes it one of the lucrative areas within the online reseller markets.
If you already know which specific handicraft products you want to sell, you can go ahead and choose those listed on Shop101. However, if you are new to the handicraft reseller items online business, do your research and decide what you want to sell — do you want to set up a store that deals in all kinds of handicraft items or do you want to sell an exclusive product? A quick search on the internet about handicraft markets to understand which handicraft products sell fast and which products have the highest margin, and you’re ready to start your entrepreneurial journey!
When you decide to sell women’s accessories, you make the smart choice of targeting one of the most lucrative segments in the market. Women resort to online shopping more often than their male counterparts. A recent survey revealed that 72% of all women shop online and fashion accessories are a hot favourite of women. One of the key reasons behind this is the fact that unlike clothing items, one does not always need to try accessories before buying. More importantly, whether it is bags, scarves, or necklaces, one can never have too many accessories! That being said, accessories also make a perfect gift.
If you are planning to enter the online reselling space through fashion accessories, focus on jewellery — necklaces, rings, bracelets, and earrings – and you are bound to make a profit. From gold and silver to nickel and beads, jewellery can be made from a variety of materials, ensuring options for all kinds of buyers. Shop101 makes it extremely easy for women entrepreneurs like you to set up their online reselling business and start making money easily. Reasonable pricing ensures customers keep coming back for more.
The saree has been an integral part of life and culture in the Indian sub-continent for centuries now. Most women in India wear sarees. It is, therefore, no surprise that saree is one of the hottest sellers in India. Yet another reason why sarees make it to the list of those who wish to resell items online is that sarees are available in all kinds of price ranges. Whether one is looking for something inexpensive to wear daily or an exclusive piece to make eyes turn on a special occasion, there is a saree for every occasion.
From West Bengal’s Taant and Maharashtra’s Paithani to Gujarat’s Bandhani and Tamil Nadu’s Kanjeevaram, there are several varieties to choose from. Before you enter the online reseller market, decide if you want to specialize in a particular type or if you want to sell sarees from around the country. Preliminary research and planning will allow you to reach your goals sooner than later.
Believe it or not, you can make a great deal of money just by selling books online. While the world is focussing on selling bestsellers, you can make a lot of money by selling textbooks, out-of-print used books, collectables and antique books. The key is to understand the market and figure out which books draw high margins. You must explore categories that bring bigger returns on investment.
Not many people know this but about 70% of all students buy pre-used textbooks and the global pre-used textbook market was valued at somewhere between $5.5 to $8 billion in 2019. The scenario isn’t any different in India — a large chunk of the student population buys pre-used textbooks online. This is another segment you should target if you want to make money. Similarly, margins are also quite high in the case of out-of-print and antique books.
In the recent past, the demand for home decor items has increased considerably within the online reseller market. There are several reasons for this. To start with the catalogues of those who wish to resell items online offer people a variety of options to choose from. Stores, on the other hand, keep only a selected few pieces and thus, cannot match online websites in terms of product variety.
More importantly, given today’s hectic lifestyle, people do not always have the time to go to different stores and pick out different pieces after checking them personally. Home decor online shopping has, therefore, picked up rather quickly in the last few years.
If you are a home décor enthusiast, reselling with Shop101 will allow you to extensively enhance your reach and product list. The way to succeed in the reselling home decor items online market is to do proper research and enter the market with the right product. Decorative items like lampshades, candles, wall clocks are some hot selling items.
How Couple Reselling Works: A Salesman’s Point Of View
Here are five potential business options, you as a couple can start to make money without paying anything and make productive use of your free time:
Clothing and Apparel
Fashion is always an evolving business. Everyone wants to look good for the wedding, the office dinners, birthday parties, or for last-minutes romantic dates. You can try your hands on building your reselling store by selecting a limited stock of the trending items and showcase the same through social media and groups.
Anything from the men, women, or kids wear can be put on the store. Indo-western, Khadi, Silk, and Banarsi Sarees, and all types of distressed and rugged western wear are among the high-end demanding categories you can decorate your fashion boutique with.
Another hit in the industry is the range of personalized products. Everyone wishes to see their names, initials, or photographs on office accessories, gadgets, and decoratives. The customized products have been high in demand and are the best bet to make money online without paying anything.
To select the best options for personalized products, you need to carry on extensive research of your network and find out what is the scope of different products before sourcing them. Some of the personalized products include Diary, Journal, Keyrings, Photoframes, Posters, Wooden decoratives, Nameplates, wallets, and so much more.
Accessories are one of the most sought-off product categories that most resellers find easy to sell and earn from. What is good with these types of products is, they are trendy, eye-catching, and cheap. You are sure to lure more customers from its attractiveness and affordability.
Jewellery is the first and foremost choice when it comes to reselling business of accessories. Along with it, you can also go for handbags, watches, sunglasses, and footwear. All these products come at very economical rates that you can start with your reselling store and earn money without investment.
If beauty and wellness is your area of interest, you can try your hands in the cosmetics industry. Cosmetics is a great business idea to make money online without paying anything as shipping costs are relatively low, and order volume is usually larger than the average, because of smaller and light-weighted products.
With cosmetics comes bigger opportunities for grooming and parlour activities, if you are an expert in this field, you can even provide the best recommendations and services to your prospects. In this way, along with your reselling store, you can also work out on your homely side-jig. Cosmetics not only includes the make-up and related products, but you can also deal with skincare, body care, and hair care product ranges for men and women.
Bakery and Catering
One of the business ideas that require no extra skill-set and makes you earn money without investment is the utensils or equipment needed for cooking. You can start earning a lot right from your kitchen and reach hundreds of people around you. Who doesn’t want a clean and tasty tiffin for their college and office?
Case Study: How the Beauty Industry is Thriving on the Online Reselling Business Model
The beauty industry is one of the most lucrative businesses in the world. Striving to prevail in this field requires smart tactics to deal with this on-demand service. All you need is to make yourself aware of the market trends and develop your brand accordingly.
Blooming Beauty Industry
The Indian beauty industry is taking a dominant position in the marketplace. The online market is standing at $450 million which is growing rapidly at 100% CAGR. The growth prospects are enormously encouraging for start-ups to proceed with their business goals.
The surge of demand for beauty and wellness services has given rise to online reselling business in these sectors. The online market size is expanding with more than 70% growth rate annually. Furthermore, it is expected that the online market will reach 3.3 billion by the year 2022.
Transforming the Beauty Business
The emergence of the online platform is changing the way of providing beauty solutions. The online reselling business is eliminating the traditional methods of marketing. People in today’s world are so busy that it has become problematic for them to visit places in search of the best products. Online services allow them to book beauty items appropriate for them. It saves their time while providing them with the value for money.
Present-day Business Demands
There is no better feeling than receiving beauty products at home. What if they receive salon products at their doorstep? What if the hygiene is well taken care of while delivering them? Well, then the market is likely to only escalate with huge beauty product demands.
The Next Big Thing in the Market
The key reason for the growth of this industry is the customer’s growing demand for it. Prospects are bright due to the nature of this business. The smart audience knows the best place to invest. Make your reselling business compelling through Shop101. It is an effective online platform to resell and promote products online.
Changing the Business Model Due to COVID 19
The pandemic has completely changed the ways of conducting businesses. It has created new norms for all industries. It has increased the demand for online reselling business. All industries are now switching to online mode to connect with customers. Engaging them with the value and usability of the products is carried perfectly through this online platform. Read the facts below to know how COVID-19 is impacting the beauty industry –
- According to market research, 85% of beauty products were sold in the shop prior to the COVID-19 crisis.
- The same retailers are now shifting to the online medium to sell their products.
- Events are also being conducted online to connect with existing customers.
- Working from home is the best option right now that will eventually be the most profitable one in the future also.
- A renowned business owner said in an interview that consumer’s buying behaviours are changing and are likely to stick in the same way in the future.
- The business owner said so after monitoring that there is an increase in online sales during the lockdown.
Sustain, Strategize, and Succeed
Business is all about planning tactfully and implementing those plans that provide maximum profit in minimum investment. Starting a reseller online shop requires zero investment with high growth prospects. Explore the ultra-modern ways to transform your future in business.
Experience the futuristic technology which is set in place to solve the business issues of small merchants also. Customer satisfaction is the key to survival in the long run. Build this reputation by selling the highest quality products by connecting with the reputed name in online business.
Shop101: Become an Online Reseller Without Any Investment!
Shop101 is an online reselling app through which anyone can become an online reseller. Requiring no prior experience, you can easily earn money by reselling on Shop101. As it asks for no investment, this means there is no risk for you to bear!
After you download and create an account on Shop101, an online store is created for you. After the creation of the online store, you select your list of unique products. It must be noted that products can be only selected from the existing product list of Shop101. After this, all you have to do is forward the links of these products to your social circle via Facebook or WhatsApp. When anyone buys any product through these links, you also make money on that transaction.
This is how you can earn money by reselling on the Shop101 app. It is simple yet exciting! Plus, there are no limitations. You can earn as much as you want on Shop101!
We hope that now that you have reached the end of this guide, you know how you can increase the sales of your online reselling business. Remember, like any other business, the online reselling business also requires dedication and consistency. Stay focused and sell hard!
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