A Beginner’s Guide to Sourcing Products for Your Online Business
Are you planning to start an e-commerce store? Smart choice. Retail ecommerce sales are expected to cross $4.13 trillion in 2020, and this number will only grow in the coming years. You can expect to face tough competition online, but remember, there’s plenty of room in the trillion-dollar industry. You can establish a successful online business as long as you have a good plan in place. One of the most crucial elements in starting your online venture is sourcing the products. It can really make or break your e-commerce business, so make sure you pay close attention. Here’s a beginner’s guide to sourcing products for your online business What is Product Sourcing? Product sourcing refers to a process through which a business procures a product to sell. There are plenty of ways to source products, including manufacturing, dropshipping, and wholesale. Let’s dive into more details to find out which options are better suited for your business. Manufacturing The idea of manufacturing you...