Consider niche Buying

Much has been written about the benefits of niche selling. This is because it’s a excellent way forward for independent retailers. Less is written about market purchasing. This is a excellent way for educated independents to earn money at the cost of the box shifters and big faceless retailers.

Most retailers purchase their inventory in roughly the same manner. They do market research to ascertain what they believe their customers will want. They find wholesalers and manufacturers and distributors from whom they could purchase the stock. They negotiate as low a price as they can. They buy as much as they can manage or believe they could sensibly sell in a specific period. Since we are all doing so, it’s hardly a surprise when all of us wind up with comparable inventory and similar prices. With the great reach of selling platforms such as Amazon and Ebay, prices are driven downwards and most of us suffer.

In the couple of weeks before Christmas, there’ll always be some fast-moving, desired items which get in short supply and their price rises accordingly. This is the market to go for. There’s no guessing required. You can see the need is there and you can afford to stock up, knowing it will sell. The issue is where to find the stock, since it’s in short supply.

The solution is to find companies that are being idle. They’ve set a standard price for a collection of items. They do not realize that you is infrequent and selling elsewhere at a premium. Or maybe they offer a product that’s been running for months and they’ve failed to quit doing this when the market changes.

I’ll give a few examples to illustrate what I mean. I hope you will understand if I don’t give every detail — find your personal deals!

Last year Toys“R”Us in the U.K. clearly had overstocks of a product referred to as”Christmas Adventure Set.” It should have been 19.99 (about $30) but it had been selling at half price, with free postage. On Amazon in the U.S., but these products were selling at over $60. So I could buy them at around $15 and sold them at $49.99. My earnings peaked at over 10 per day by selling in the”reduced” price of $49.99 where each of the other vendors were offering at $60 plus.

Then there’s the U.K. maker with its own site to market to the general public. Its wholesale segment has run out of stock for a particular action figure and all retailers on Amazon Europe have run out. Really Amazon itself has also come to an end. The product is in demand and the selling price has reached double the normal $7 price in Europe. The producer’s own consumer website still has inventory, and is priced in the normal $7. The company’s search engine optimization is obviously rubbish, as it doesn’t appear in Google. Along with this, the manufacturer is offering free shipping and a free gift (a vinyl storage box).

So I can buy the figure from the manufacturer at $7, and then market it in Europe for $14. To add to my gain the vinyl storage box is currently selling at the U.K. for #49.99 — $80 U.S. — also sells within hours of being listed. It’s a terrific thing and well worth the 49.99. I can’t understand why the manufacturer is giving it away as it might sell it for so much — not that I am complaining.

Related posts:

https://www.connectpos.com/glossary/retail-pos/

https://www.connectpos.com/glossary/pos-reconciliation/

https://www.connectpos.com/glossary/bundle/

https://www.connectpos.com/glossary/barcode-printer/

https://www.connectpos.com/glossary/kiosk-pos/

https://www.connectpos.com/glossary/pos-display/

Finally there’s the sport that Amazon U.K. is selling at cost, but is in the top 100 sellers in the U.S. and sells at a premium.

So by finding these products being dumped on the market in one country but in demand at a top in a different country, I will make decent money.

In addition to internet opportunities, there are also local shopping opportunities. By way of instance, in my city in England a large national discount shop has just opened. It’s stuffed it shelves with merchandize from”Frozen” (the film ) at reduced prices to encourage clients to go to the new store. Frozen-related product is in short supply online and sells at a premium. I have a discount shop selling things at a price I can’t find wholesale and these items are available at a top online. I bought them.

Whilst these examples are great and earn lots of sales, by their nature they’re short lived. You want to constantly keep an eye start looking for these opportunities. Whenever you go to a new city or shopping mall hunt out the shops that don’t have an internet presence. They might have older stock on their shelves that everybody else has sold from long ago. Despite the fact that this could be just a couple of items, it helps. Whilst the biggest killings might be earned in the Christmas period, there’s nothing to prevent you doing this year. It’s basically exactly what antique dealers do each day of the week. Indeed it’s what the independent cargo shippers used to perform tens of thousands of years ago: Buy a commodity where it’s cheap and send it to market where it’s in demand. The only difference is that we use FedEx as well as the postal services as opposed to a tramp steamer.

In short, stop following the herd and begin doing your own thing.