One of the biggest challenges of running an online fashion business is to find the right suppliers. You want dependable partners. There should never be an instance when your customers find no inventory in your store. The same applies whether you are operating online or a physical store.
Read on to find out how to find the best suppliers for your online fashion store.
Dig Deep Through Research
The first step might perhaps be the most critical, yet difficult. You will need to do tons of research. It is much more than a cursory internet search. You don’t get a list of names and start transacting.
You need to dig deep. Ask questions, read reviews and talk to references. Talk to competitors about their experiences with their suppliers. Check out their website to see if they are trustworthy.
Take a look at the Luna website. You will see tons of testimonials from happy customers. That is the kind of social proof you need, so choosing the right suppliers here is crucial.
Diversify Your Supplier Pool
Do not stop your research when you find one supplier. Always have a backup plan. Talk to business owners who managed to stay afloat during the Covid pandemic. One thing you will hear is supply chains almost came to a stop. To date, container ships in China cannot move from the ports.
There is also a critical shortage of containers. Woe unto you if your supplier is from China. The situation is so dire that experts predict it may go on to the end of 2021. A backup supplier from another country would keep your business going as you await a resolution to the ongoing mess.
Explore Different Business Options
Not everyone is operating in the online space. Some store owners still operate physical stores. Diversify by selling their products on your platform. Agree on a commission for every sale you make.
Another alternative is to go into Dropshipping. You become that vital link between customers and suppliers. The good part is you handle no inventory whatsoever. With this option, you need to go back to our first point. Research the supplier before entering into business with them.
Remember, the customer deals with YOU, not the supplier. If the products are substandard, you are to blame.
Buy Domestic
Don't always look overseas for suppliers. You may find the fashion products you need from local suppliers. Are they a bit more expensive? Unfortunately, the answer is yes. You may also not get so much choice in the items.
But, the quality of stuff may be higher than what you get from overseas. Shipping times are shorter. You can also verify the products before you buy them.
Once you establish good relationships, the manufactures or suppliers can extend credit facilities. You can also discuss warehousing options so that you avoid the cost of handling merchandise.
Final Thoughts
Finding suppliers for your online store is not easy. It requires due diligence and patience. Take the time to do it well so that you do not lose your money to unscrupulous individuals. You never want to disappoint customers with low-quality products. Remember, a critical factor to the success of your business is the reputation you build.
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