The holidays are nearing an end. Christmas clearance is well under way. As things slow down it’s now the time to look for sweet product sourcing deals. I always find it a challenge at this point not to go wild at the prospects of 75% off, or better, of merchandise. It’s still important to have a discerning eye and not act like it’s an episode of Supermarket Sweep. Lot’s of products are purely seasonal and will need to wait nearly a year before there’s any opportunity to sell and a lot of that is junk.
At these times, it’s important to remember the sales model/priorities I’ve been giving my web store. Namely:
- Non-durable hardware-oriented goods
- Niches that a little sales guy like me can hit, but be overlooked by “giants”
- Things that ship efficiently so as not to eat into the revenue
The trouble with a lot of these product is that they are the things needed throughout the year and are about as sexy a gift as vacuum cleaner bags.
This year, however, I did notice that sitting on certain toys can provide a good ROI. I still consider this high risk as it’s hard to tell what will be worthwhile to buy at times. So it may be worthwhile to make a few small investments in the fun stuff, but I will keep that limited. Maybe 10% or 15% of my budget. The remainder of the budget will be on filling the above goals.