From mobile devices to virtual reality, home products, fashion and luggage, you can source almost anything at Global Sources trade shows
If you are a private labeler or a seller looking to develop a brand, it’s very likely that you’ll be sourcing products from factories in Asia. So it makes a lot of sense to attend trade shows there, and meet face-to-face with potential suppliers.
Not only does this cut out lengthy email conversations, where your requirements can be easily misunderstood, it helps you get a feel for the right supplier and start building a relationship with them.
Trade shows also give sellers a chance to get hands on with potential products. In the age of the internet sellers can be all too tempted to source products without ever seeing them. At trade shows, sellers can get their hands on sample products, test them out and make a far more informed decision on which products to source.
Game theory turns repricing into a strategic battle, pitting you against your competitors to find a market equilibrium, not a race to the bottom
Repricing isn’t a new concept to marketplace sellers. Many sellers use automatic pricing tools, particularly on Amazon, to make sure that they are charging a competitive price and winning a share of the Buy Box.
But this isn’t without its drawbacks. Existing repricers, whether they are rules-based or algorithmic, are known for driving prices downwards. Why? Because they tend to treat repricing too simply, seeing it as an arms race, so instead of one seller with the best price “winning”, all prices are driven down and everybody loses.
Seller snap is a new tool on the market, that takes the innovative approach of applying mathematical game theory to the problem of Amazon marketplace repricing. This provides a way to treat pricing as a strategic game between players, with the goal of finding a balance or equilibrium, instead of a battle to the death with only one winner.
BULQ brings the liquidation industry into the 21st century by offering a manifest guarantee, flat-rate shipping and the ability to source on the go
Historically, the liquidation industry has had two main problems. The first affected retailers, who had to send their stock through inefficient and costly liquidation channels, which resulted in returned and excess inventory going through a lot of middle-men, before it would eventually reach buyers that would resell to the consumer market.
The second affected buyers who were purchasing liquidation stock, only to find that when it arrived, the stock was completely different to what was included in the manifest (if there was a manifest). They were also left confused by the various shipping costs and were sometimes hit with hidden fees.
Enter BULQ, who is bringing a different, more modern, approach to the liquidation industry in order to solve these two problems. They work with some of the largest retailers in the United States and connect their excess and returned inventory directly with entrepreneurs who buy the stock and resell it.
BULQ is also making the process quicker and easier for buyers. Not only do they offer flat-rate shipping direct to your door, they also offer a manifest guarantee if the contents of the lot is off by more than 2% in terms of condition or quantity.
Twice a year, the Global Sources Summit hosts the leading speakers on sourcing and private labeling from every corner of the Earth
For Amazon marketplace sellers, private labeling remains one of the most popular business models. This is where sellers source a generic item, create a logo and custom packaging, and then offer it on Amazon under their own brand name and listing.
But the private label model is more difficult than people think, and one of the most difficult aspects is sourcing products from China – especially if sellers have no previous experience of importing. They often make simple but costly errors, like miscommunicating with their supplier or having the wrong export documentation.
This is where the Global Sources Summit comes in. It aims to help established Amazon sellers source more efficiently, by learning from the world’s top sourcing and private label experts. It also gives sellers the opportunity to source products from two co-located trade shows, and to visit Chinese suppliers in person.
Selling internationally? Avoid unnecessary currency conversions, pay suppliers, and transfer currency balances with this new service
Currency conversion company WorldFirst have been testing an innovative new service with their customers since May this year: the World Account.
Now it’s available to all online sellers in the UK and the EEA (European Economic Area). Businesses in the USA and worldwide can register their interest to get a World Account when they launch globally.
For years, sellers have been using WorldFirst’s receiving accounts to bring funds home from international marketplaces. But online selling has evolved, and sellers need more than just an account to collect their payments. They need to pay suppliers, settle VAT liabilities, transfer between currencies, and manage their accounts on the move.
That’s where the World Account comes in. It’s a big leap forward in currency services for online sellers.