So… who do I get my products from?

It’s a serious question. Assuming you’ve already found a product, or maybe a range of products that seem to be in demand… a viable market that expresses demand for the product… and as long as the product isn’t currently flooding the market (unless you thrive on the thrill of high-pressure competition), you will need to find a source. On top of that, you’ll need to find one that isn’t going to leave you high and dry when you need support later on.

There’s a lot of different kinds of suppliers out there, and you might want to start with these top categories:

• Dealing with distributors could be the way to go for a lot of choices right upfront, or if you want to eliminate the guesswork of having to put complimentary sets of items together by yourself. It could also come in handy if you don’t fancy doing the paperwork and technical stuff that might need to be done to tie the whole order together when dealing directly with a manufacturer. This way of sourcing goods will probably cost you more, but it might save you a lot of time and aggravation in the long run.

• Discount sellers and liquidators can lead to big savings. This means you’ll have to be pretty flexible, too… since you won’t always be assured of being able to fill repeat orders for something that was an awesome steal last week, and has quickly dried up this week.

• Importers are bringing the goods from far away right to your front door. If you are trying to get goods from another country, this is where you’ll need to look. Luckily, there are some rather firm rules regarding the processes involved in import and export… but it’s all going to be smooth ride or a bumpy one, depending on who the importer is. Larger importers are not as flexible as smaller ones, but tend to be a safer bet. Small companies can give you exactly what you were looking for, but might have their hands tied by some sudden political instabilities or policy changes that they have no power over. I’ve seen this happen a number of times with associates of mine here in China, and it’s a reality you should be prepared to face.

• Distributors are great… but maybe drop shippers are better for you. In the case of large or heavy items, it makes a lot of sense to shave off as much of the overall shipping price as possible, both for logistical and price cutting purposes. This can save you from having to coordinate the transport of goods from the source, to you, then to your customers. It will also save the customer some money too, which makes you a lot more attractive as a seller when your competition seems to always have a higher price point for the same merchandise you carry.

• Go straight to the source… the manufacturers. This is the best route to take when you are hitting high quantity numbers per order. It also leaves you in a position where you are dealing with fewer parties, and this could simplify things considerably. On the other hand, many manufacturers are great at producing the goods you desire… but awful at customer service, after-sales service, and even simple stuff like accounting or invoicing. This could be a problem if you aren’t willing to take ownership of the situation, and handle as much as you can for yourself.

What are you waiting for? Get online and start looking for these sources! Of course I would recommend that you take a little time to browse the numerous categories of Toptenwholesale.com and Manufacturer.com to see some great examples of global manufacturers and distributors who have made the cut, and investigate the ones who have become part of our search results pages. One of the biggest advantages to using a wholesale-specific search engine like this one is the simple fact that your search results are all going to be relevant to the business of manufacturers, wholesale, and retail… instead of returning hits that are coming from popular celebrity gossip headlines and YouTube feeds. You want information that has been put together using the leading wholesale directories and search engines connecting thousands of buyers and sellers daily. These B2B directories and platforms were designed to connect buyers  directly with domestic and international wholesalers and manufactures. There are over 100 different product categories to search from including: general merchandise, apparel, accessories, gifts, electronics, handbags, jewelry, toys, and more. Toptenwholesale.com and its network of sites (manufacturer.com, wholesaleu.com, offpricenetwork.com) help buyers to connect directly with the wholesaler or manufacturer of choice, because the Internet is frustrating enough with 80% of content being spam-related… so do yourself a favor and use the tools that will streamline your search! Of course, there is a lot of traditional media you can subscribe to a well, and trade magazines and newsletters are readily available if you like to have something more tangible to read. Making the voyage out to major shows like the huge Canton Fair in Guangzhou, China could offer you a tremendous advantage too.

Be wary, though… there’s a lot of fake stuff in circulation, and after living in China for the past three years, I’m never surprised anymore when I see something new that turns up, no matter how ridiculous it may seem. Doing your research is paramount to protecting yourself, and there are many ways to find out if a business is legit or not. Visit the website, and take a few minutes to move around within it. If it doesn’t seem to be a worthwhile investment of your time, walk away. This extends beyond simply sniffing out the scammers; it’s also a good indicator of which companies have their acts together… or which ones will be a challenge in terms of simple communication, or basic ideologies behind doing business with them. Make sure you do your homework once you find a possible partner. Taking the time to read through policies regarding returns, damages, backorders, and other essential parts of the company’s customer service plan will save you some headaches later. If you notice that the company has a contact number or PO box… instead of a physical location that you can visit… this is a huge indicator of something shady. Of course, nothing substitutes for calling the supplier directly and asking a few questions. If in doubt, you can also take a shot at checking the business out through the Better Business Bureau, Hoover’s Online, or any other background investigation agency.

Finally, besides getting everything squared away in terms of setting up your company and getting a business license and tax ID number… you need to establish payment terms with your new source. Sometimes they are easy to work with, and sometimes you will feel like you need to get certified as a CPA to understand the paperwork. In either case, remember that many of these suppliers will allow you to apply for credit, or set up payment terms that work for you. If you need to know more, try contacting us at Toptenwholesale.com for the answers! Find it. Source it. Profit!

It looks like the ones who research the trends and the global news are going to win. Fortunately for the number-crunchers, there are a variety of resources available for those who want to sink their teeth into the dizzying piles of numbers and spreads that break down consumer spending patterns, regional areas of distinction, and pretty much anything else that you can think of… but how do you filter out all the noise, and find the resources that make sense to you? What’s being offered by manufacturers to your market category? Where can you turn to, without spending all of your time going bleary-eyed from the bluish-cold glow of your PC monitor, and without making you feel like your world has been reduced to a 1680 x 1050 display? Okay, maybe that last part was really just describing my own situation… but you get the idea.

Since every one of you in the wholesale and retail biz are as different as the customers you serve, I’ll try to bring up a few of the main traditional focal points, with another nice and neat TopTen list of popular off-price products being outsourced this holiday season:

• Accessories… there’s never been a better time to start carrying a full range of accessories, from classic to outrageous. With prices dipping and once-successful export companies in China feeling the pinch… you might get a lot for a little, if you apply the right tactics in getting a piece of that surplus at a price you’re happy with. Your customers will be even happier when they see how easy you make it for them to find what they want.

• Apparel… I’ve actually noticed some military-grade bags and other small items that are hitting the racks – with the minimal addition of brands and logos – here in China, because there are a few companies that were making actual military gear… who now find themselves without contracts. Guess who’s going to be rocking the desert-camo cargo pants this year? I’ll be one of them. Maybe you can reach out to these manufacturers, and make a deal?

• Shoes… while there will always be a market for high-end footwear, it’s certainly the designer-inspired and budget-conscious suppliers that will be getting more attention this year. Don’t be afraid to check out the huge market for discount shoes.

• Jewelry… I’ve talked about the rise of online jewelry wholesalers in past posts, but another thing to consider is all the talk about gold and silver prices going through the roof. No, I’m not suggesting that buying jewelry will really be the best way to invest in wealth protection, but what I’m referring to instead is the fact that gold broke the USD1000 mark not too long ago… and it continues to climb. That means people had better buy their gold now, rather than waiting for the prices to continue the hike. Are you educating your customers about this? Of course, this means your timely large-volume purchases will protect you from rising costs down the road, too.

• Toys… factory closures in China - and more than a few unscrupulous bosses disappearing with the company’s cash - have been making news here in the PRC, and that means that there are a lot of toys floating around with no place to go. This year’s Christmas will be the year of seeking value, and you can direct your customers to the best ones, if you act fast.

• Electronics… I don’t need to say a lot about this one, do I? China is on a mission to build up its reputation as the world’s next electronics empire… and that means that right now you will find a lot of companies that want to bring their low price-point goods to you, in the hopes that it will boost their budgets for development, and push them to the front end of the surge. Again, this is a nice example of some leverage you may have over them. Beware of really poorly-performing hardware, though… just remember to buy smart, and win.

• Health and Beauty… this is a great example of unknown Asian companies making their move. Did you know that Asian and Indian women have distinctly different needs than Caucasian women, with regard to simple things like concealer, lip liner, shader… and… all that other stuff that I’m suddenly embarrassed to admit I know a lot about? Do you know the demographics of your community – both online and on your street – that will influence your buying decisions? Do you know anything about Kevin, the famous makeup artist from Taiwan? Why don’t you Google him (by the way, this is a different guy from Kevyn Aucoin, the famed American cosmetics entrepreneur) and find out what Asian women are looking for in the USA. Be the first one to offer it to them at a special price! Here’s a tidbit for you: in China, the general consensus is that Japanese and Korean companies are the only ones who make top-quality cosmetics for the Asian market. That means the Chinese products can be had for a low price… for now.

• Handbags… nothing replaces this category, and both men and women will be looking for the all-purpose ‘field kit’ that looks less like a nerdy excuse to keep all of your valuables on your person, and more like a stylish reason to carry extra items that come in handy when you’re out and about.

• Home Décor… lots of folks are going to be moving to smaller homes, rental homes, and even moving in with friends and family as this housing crisis continues its graceful descent into oblivion. Sounds great, right? Well, the fact remains that people like to be comfortable… and that means offering the goods to make a new - and perhaps less posh - living space feel more like home, will be appreciated.

• Food… ah, I saved the best for last. I was in the Food and Beverage business for years, and my prediction is that more families will be giving the gift of cookware this year, in an effort to curb spending by not eating out too often. There’s a lot of choice in the market, since the culinary craze of the past 20 years has built a very solid foundation of foodies far and wide… but this year, the emphasis will be on finding high-nourishment… and half the fat. Bad joke, I know. Pay attention to the smaller, low-cost items of choice in the area of home cooking, and family-sized wares.

Lest I forget, you can always turn to the power-packed pages of Toptenwholesale.com for a solid lead-generator, and a glimpse into what the trends are, in real-time. Other information to peruse would be COMSCORE’s helpful data, like the chart below.

It’s impossible to cover all the bases in one post, but it’s a start. Hopefully you will continue the search for the best outsource options, as you gear up for the most unpredictable holiday shopping season we’ve seen in a long time… just remember to Find it. Source it. Profit!

A little bit of planning goes a long way. Looking at the large retailers and big-box stores, we can see that there are a lot of nice strategies to drive spending, most of which are created at the point of purchase… and sometimes even combined with online activity to form a potent custom-made coupon, for example. I’ve seen some retailers that are offering Internet-only rebate codes and e-coupons that don’t serve any purpose unless the consumer has already gone to the physical store, and made a purchase there to get a URL that grants access. Pretty good for the customer… and twice as nice for the seller who gets a double-dose of revenue from what could otherwise be wasted time, as the consumer gets back home after shopping… and logs back online to check emails and play around with Twitter anyway!

It’s all about choice… and you might be in a

great position to offer this to your customers!

Is there really any reason why you can’t put this information to work for you? Maybe you don’t have the physical storefront, but there are a few things a wholesaler can offer online that will give customers something to smile about. After all, as an online seller, you are able to make changes rather quickly, as opposed to the shops with huge inventories, employees, and overhead to worry about. Since there’s so much to talk about, let’s take a look at the TopTen ways you can be ready for Black Friday and Cyber Monday:

• The power of choice is on your side… and you should be thinking about how you can offer the best and hottest assortment of goods for your customers, in order to be first on their minds. Internet sellers will be in the best shape to quickly rearrange and categorize everything to promote variety on their sites.

• Time is of the essence… because time is on your side, for now. Major players like Best Buy were known to hold sales events that started at specified times, ending that day as the store closed. This kind of strategy works well if you have a retail location, and can boost your holiday revenue nicely if you already have the staff and environment for it. If you don’t have the space, why not do something like this online? Experiment a little, and see what people’s responses are to a limited-time offer on the Internet… maybe even post a real-time countdown clock on your site, to drive traffic to your discount category.

• Laziness can be a virtue… since nobody likes to get up early, and not everybody gets a thrill out of waiting in line for a shop to open so you can elbow and claw your way to sale-priced items that could be drop shipped just as easily. In a recent COMSCORE survey, early morning between 04:00 and 08:00 accounted for just 11% of the day’s total online retail sales, while the period after 08:00 accounted for 84% of online sales.

• Get to know the bargain-hunters… the guys have it, this time around. In a recent CIB survey, men were found to be the largest demographic group to spend time on the internet looking for a special price. They were also found to be the biggest group of self-proclaimed bargain hunters, at 48% compared to 41% for women.

• Dare to be different… it looks like the biggest reason for online shopping is simply the desire to find deals that are not available in stores. If you come up with a new way to bring a special discount or bargain price, don’t print coupons and mailers… bring it to light online, and let your customers follow your links to a rewarding shopping experience!

• Educate your customers… because those who put the information out there will be regarded as the source for everything else, too. Are you utilizing video (or at least audio) on your site? You should be. In a world of overbearing advertisements and ad copy that eclipses the product profiles on some of the less-skillfully crafted sites, your message could be coming through loud and clear.

• Appeal to the young buyers… but do it carefully. Young holiday shoppers aged 18-24 plan to spend less than $50 this year. Of course this means if you have a product that is perfect for this demographic, you should pull out all the stops and hit it hard this year.

• Think outside the box… especially the gift-wrapped ones, as customers will be making purchases this year for their friends, family, and other loved ones… and for themselves. Let’s face it, with so many great deals floating around during the peak of competition this holiday season, there will be a lot of side-buys that are made by people who decide to indulge a little for themselves while the price is right.

• Don’t wait around… because all signs are pointing to consumers doing their holiday shopping pretty early this year. With a big expected surge in seasonal spending kicking off right after Halloween, it’s going to be more important than ever to get your message out there before the competition does.

• Break it down… and remember that in a world of Internet-driven sales, categorizing products effectively has a major impact on how quickly your customers will find the goods they are looking for. If you want to be the one to offer it to them, try using a site like the Toptenwholesale.com site for the best way to put your product category directly in front of the people who are looking. While you’re at it, check out the Toptenwholesale.com facebook site for some ideas and strategic content that will give you the edge this holiday season!