What are the key factors to succeeding in ecommerce?
I have a family friend who's looking to start an online business store....but don't seem to know what to buy/sell and from where to source products at the right price/quality
Can anyone share from there experience? and which direction I should point them in?
Cheers, Cheech
Hi Cheech,
When I first started, I actually looked at the site Alibaba to source products from. It really depends on what kind of store you want to create. Alibaba will send you already designed products or if you look at the specifications, some manufacturers will do custom products for you. Consider getting them to create samples if you want customised products. You also need to consider packign and labels as well.
The manufacturers in China sometimes do not do small runs, but you can consider manufacturers from other parts of asia such as Indoneisia, Vietnam or Thailand that can do an equally good job.
I'd recommend having a product with a decent margin and value $100+
You need enough margin to pay for acquisition costs
