Finding an exciting and cost-effective wholesale offers in power tools or home improvement industry needs a strategic approach. If you already know what products you would like to resell, read more about how to reach out to suppliers here. In this blog post, we’ll share some tips on how to find the best products that will help you to expand your business.
Follow industry trends and niche down
To stay ahead of your competitors, you need to understand where your industry is heading. If current trends are tiny houses, eco-villages or sustainable living overall, make sure you have products to serve audiences who are interested in these topics. For example, Makita has a “Go Green” slogan, that stands for sustainable recycling-oriented society, reducing CO2 emissions and saving energy.
Niching down doesn’t mean that all of your products have to be fully sustainable, but having a variety of them available can give you a market advantage. You can use environmentally friendly products as an asset and customise your campaigns and messages for people who care about sustainable living. One way to do that is to create a separate range of power tools that use lightweight, long-life batteries and use this message in your marketing campaigns. However, there are other ways to categorise your products, so feel free to come up with different niches and define audience needs accordingly.
Though there are product research and competitor analysis software providers out there, you can go straight to eBay or Amazon and analyse the products in your target category. Type in Makita, Bosch, Metabo or any other power tool brand that you are interested in and start analysing the results. You can define the interest for these products right away by looking at how many products reseller has sold. This will give you an understanding of the current demand and indication for your competitor analysis strategies.
If your competitor has an online store, you can use tools like SEMrush to learn their strategies. What are the primary traffic sources? What keywords are they ranking on? What ads are they running and how much money they have spent on their advertising previously? These are just some examples. There are heaps of tools out there that can help you with product research and creating a bullet-proof product sourcing and marketing strategy.
Consult with procurement partner
Procurement partners in Europe have an extensive network all across and reaching out to them can give you a shortcut. They are in touch with vendors on a regular basis and know well what products are discounted or where to get the fastest delivery if you need your shipment to arrive as soon as possible.
If you are looking for DIY tools for resale but would like to consider different brands or various types of saws or drills, you can arrange a consultation with a procurement partner. They will help you to choose the vendors and provide you with the best offers that will make sourcing process fast and easy. That way, you can get the maximum value while minimising costs and saving time.
If you are looking for a procurement provider or have any questions about power tools, shipping, financing, or insurance, then don’t hesitate to get in touch with us.