Choosing a product for your wholesale or Dropshipping business

Do you know, what is the most important and most crucial decision you will need to make when going for some dropshipping or wholesale business? It is to decide the product you are going to sell or export. The fact that some product has performed really well in the local market does not guarantee the same sort of acceptance in international market, or if you were able to offer really low prices to your domestic customers, you'd not find it easy to offer same prices to your international customers. So before you start, you need to sit down and think over these basic points.

i. Price
ii. Quality
iii. Competition
iv. Laws & regulations
v. Marketing

Price & Quality are vital:
Consumers who are buying from an international seller expect either price, which is not offered in their local market, or world-class quality, which they cannot find elsewhere (sometimes they are looking for both). To satisfy these customers you may need to modify your product or service to meet international standards before you start exporting.

Look for the Competition:
Second area of research should be the competition you are going to face when you start dropshipping or selling at e-bay. High or moderate level of competition will require plenty of patience, persistence and funds. If you think you lack in any of these three departments, choose a product from low competition zone. Remember competition is not something to judge by the number of competitors only. You need to have the product’s demand and supply in your mind when determining the level of competition.

Laws & Regulations:
Different countries have different set of rules for a variety of products. You can not supply alcoholic beverages in Muslim countries (in most cases); packed food items are not a good choice when exporting. Check for all these regulations or tariffs that can affect your trade.

Marketing & Advertisement:
Not only the product but your marketing skills also need to be world class if you want to make a mark in wholesale or dropshipping business. You should be familiar with new marketing trends and techniques to get started.

Conclusion:
Compare a product’s strengths and weaknesses in all of these departments before choosing any one product. If you don’t have the skill or patience to go through this process, you can take advantage of some very good artificial intelligence and analysis programs available, like the “market wizard” at wholesalepages.co.uk.