If we had to pick a no-frills, highly underrated business trick, it would be to build your inventory at the right time. A great way to do that is by taking advantage of bulk buying opportunities that happen throughout the year. From off-season discounts to smart tech-related purchases, you can save money as you grow your stock.
As a buyer, one is always on the lookout for off season discounts. How about applying the same logic to your online selling business? Cash in on the off-season by buying in bulk and selling when there is more demand.
Consider these tips as you work towards acquiring your next batch of inventory:
Stores always feature massively discounted products immediately after large-scale retail moments like Halloween, Valentine's Day, and Christmas. It could be Christmas lights, ornaments, or scary yard decorations for Halloween – buyers will want them every year.
Stock up on summer supplies like beach wear, fishing supplies, or patio furniture when they are discounted in the fall or winter. If you are selling coats, candles or throws, the right time to build your inventory could be in the spring or summer months. Create a personal sourcing calendar to help you make the most of the discount season and sell those items when they become relevant again. Buying in wholesale quantities will also help you beat the seasonal rush and leave more room for creativity to focus on your exclusive items.
While you gear up for off-season buying, here are a few cautions:
Keep pace with tech
Tech companies are launching gadgets at the speed of light. Use this to your benefit by tracking the latest mobile phones, tablets, laptops and Bluetooth devices. When new gadgets are launched in the market, old ones get cheaper. That’s when savvy shoppers buy previous models - your cue to bulk buy accessories for older models to service their needs.
The all-season items
Think weddings, baby showers, bachelor parties, and prom nights. If you are selling themed items or decorations for these occasions, the whole year is your buying calendar. Just look for discounts at online wholesale sites or offline stores and use your creativity to stock up the best.
Not sure where to source from?
Retail arbitrage is an obvious choice. Major retailers also liquidate their shelf-pulls, overstock and out-of-season goods in bulk at great discounts directly to third-parties, via bulk marketplaces or through channels like bulq.com and other liquidation sites. There, you can buy inventory like holiday decorations, last season’s clothing, or the previous year’s electronics.
Have you tried sourcing off-season for your business? Or, do you plan to do it anytime soon? Share your thoughts with us in the comments section below.
This post is written based on the expertise of our content partner. BULQ is a wholesale supplier for sellers looking for brand-name overstock, returns, and closeout inventory from Fortune 500 retailers. Source everything from Electronics to Home & Garden, from Apparel to Health, and much more--all covered by the BULQ manifest guarantee. By offering inventory in a variety of conditions and lot sizes, BULQ wholesale lots can fit every budget and type of seller. Visit BULQ for more information.
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