How to Sell Products Online without Inventory
An eCommerce website can operate on the support of another website’s products as well. It is quite common these days for an online store to sell products without inventory and earn a commission. This can be achieved in a number of ways. Either the existing eCommerce platform can join hands with another eStore that deals in the same product category as them, or they could also join hands and form a partnership with someone that deals across a varied category of products. An online store can even sell products from home for other companies without thinking much about setting up an inventory themselves.
How to build synergies to sell online
In either way, an online business can utilize the synergy of product offerings by one seller, to make a name for their own platform. This can be achieved by creating powerful and attractive advertisements that can be placed on one’s own website, which sings about the achievements and utility of another platform’s products. In this way, both platforms can make a name for themselves and achieve buyer patronage.
The responsibility for shipping and ensuring correct delivery of product shall rest upon the other online business owner. You can definitely go for this way of selling products online for other companies if you want to save on initial cost for products.
The practical aspect of the idea!
You can take the example of any renowned eCommerce business that is touted for its major dealings and extensive range of products. Some of these giants such as Amazon, Flipkart, Myntra and Snapdeal, are often seen bonding with other partners, the result of this business model is their wide and extensive product offering. Customers face the satisfaction and convenience of shopping at their preferred destination, hoping to meet the same quality and delivery standards from their chosen online shopping store. However, in the background, an extensive and trustworthy network of bonding reveals that the products are obtained and services through a different supplier or vendor, while only the delivery end of the supply chain is handled by the eCommerce platform.
How does this system of products selling online work?
In order to build the trust of the customer, the online shops work upon maintaining a strict quality check, so as to ensure that their customers are not disappointed upon receiving the product. This is perhaps a very important aspect of such no inventory business model. You have to ensure that the products that you sourced from another vendor are up to the mark and meet the quality specifications enlisted on your online store. If that fails, your customer is going to feel dissatisfied with your name and platform and not someone else’s.
The final low down
Therefore, in order to setup and run this kind of setup, it is very important to search for vendors who can provide you with the requisite quality and number of goods such that you can provide further services to your customers in a manner that builds your name and brand value. From time to time, it will be important to oversee the functions and logistics of goods and supplies, to ensure that your brand is able to keep up with its image. A strong management support will be needed as well, to keep a quality check over the operations every once in a while.
This is a full proof way to ensure that no defective products make their way to your customers. Or, you could also act as a strong advertising medium for your partner supplier’s inventory. In this way, all you would have to do is to concentrate on your online store’s marketing and advertising, while your partner takes responsibility for shipping and selling the ordered products.