Product Sourcing Guide

Product Sourcing Guide: the ultimate guide to finding profitable products.
There’s never been a better time to be an online seller. Global e-commerce sales are projected to top $6.54 trillion by 2023, according to Statistica. No matter what channel your business started out selling on, a multi-channel strategy is key to capitalize on today’s global e-commerce growth. Get Free Quote Now: Email us: info@bestplusgroup.com
After all, the more places you sell, the more buyers you reach. But it’s not enough to simply be present on multiple platforms—your products need to resonate with consumers, too. That’s why smart research and product sourcing will be critical to your future success.
Product sourcing is the crucial process of procuring products for business. Wholesalers, Retailers, import-export, e-commerce, and manufacturing business all require source quality products.
It is not as simple to say. It is more than just sourcing products for your wholesale business. Without having the right quality products at competitive rates, you cannot run a successful business.

You need to conduct market analysis, find a reputable manufacturer, and then place an order.Hence, Product sourcing demands planning and negotiation to get sufficient products at the right time, at the right price, and from the quality supplier. Sourcing a product for business is now a global endeavor. Get Free Quote Now: Email us: info@bestplusgroup.com
Many businesses around the globe try to find high-value products from international markets. Being a wholesaler, if you can source products your own, then it is pretty good, but it seems unpractical most of the time.
You cannot do the whole process yourself. Therefore, businesses get the services of sourcing companies. These companies handle a considerable part of your business relating to procuring products.
Only you need to have a good sourcing company then according to their area of specialization.In this write-up, we will try to uncover the basics of product sourcing.
We will also discuss how sourcing companies can help your wholesale business to pursue quality products. Further, the discussion will include what to consider while choosing a sourcing agent.
What is Product Sourcing?
Simply putting, Product Sourcing is a process to find products for your business that you can sell. It is not about where the source is either international or domestic. It is all about making products available for your business all the time. Get Free Quote Now: Email us: info@bestplusgroup.com
What Is A Product Sourcing Process?
Sourcing a product is not just searching the cheapest supplier on Alibaba or at any other forum and signing an agreement. Almost every business person knows this already. Many of them do not recognize that the sourcing process starts even before searching for a supplier.
Here are some of the influencing steps you must consider in this context;
Try to find the exact practices that can lead to successful sourcing.
Try to know about all the pieces of the supply chain that fit together for a quality product.
Figure out how sourcing agent can benefit you to the maximum extent
Enlist the merits and demerits of sourcing from both domestically and internationally.
Now to search the supplier from domestic or international markets.
Having decided the supplier, then carefully analyze every subprocess from finding a supplier to the shipping of the products.
Now you will be in a position to use each step in making smart management decisions. Get Free Quote Now: Email us: info@bestplusgroup.com

Types Of Product Sourcing
You can source your products in many ways. You can apply one source or more at a time. It is up to your requirements, and you are to decide. Well! Mostly e-commerce wholesalers use a combination of the three methods which are as follow:
DIY Products Or Services
Working With A Manufacturer Or Wholesaler
Hiring A Drop Shipper
What Does A Product Sourcing Agent Do?
Sourcing Agents are professionals who help and make the sourcing process of an institution or a company. They are the experts in the sourcing process.
They have a healthy relationship with the manufacturers or suppliers and can negotiate on cost. They also help to develop agreements and eventually help a business grow and become more profitable.
In a sourcing company, they play a third-party role, advise and consult their company, and recommends to upper-level staff members. They can perform duties in various industries and work settings. Get Free Quote Now: Email us: info@bestplusgroup.com
Where Can I Find Wholesale Products To Sell Online?
If you want to sell your products online for your wholesale business, then there are various forums. These forums provide interaction between buyers and sellers dealing in bulk purchases and sales.
Alibaba Group Holding Limited: www.Alibaba.Com
Alibaba Group Holding Limited, recognized as Alibaba, is a Chinese company that is specialized in e-commerce. It was founded in 1999 in Hangzhou, Zhejiang.
This company provides Business to Business (B2B), Business to Consumer (B2C), Consumer to Consumer (C2C) sales services through web portals.
It also offers services such as electronic payment services, cloud computing services, and shopping search engines. It helps a diverse array of business-related to various sectors around the globe. It is considered in the most admired companies by Fortune. Get Free Quote Now: Email us: info@bestplusgroup.com
Wholesaleforum
You can find more than 125000 registered members on this forum with almost 500 online active users at a time. It is amongst the most prominent forums for wholesalers available online. This forum deals with nearly every kind of product. You can visit the website to get an idea about how big the forum is.
How Can You Find a Manufacturer to Make Your Product?