How to reach a turnover that will allow you to buy at wholesale prices?

Question

Business Informatics

There is a plan to create an online store, I found suppliers of almost everything I need.
All suppliers have a minimum amount, around 40k, which I can't afford.
What methods are there to determine which items to buy and in what quantity at the start?
And how to conduct demand testing?

Answer 1

The method you can afford is intuition.
Others cost too much for your position.

Answer 2

And how to conduct demand testing?

You can also test demand without buying a product. Set up a small campaign in Yandex.Direct and see how many people ordered the product and how much they spent on advertising. You will immediately find out the approximate cost of one lead.
If this is the first online store, then at the start it is better not to buy goods at all. The best option is to find a supplier with a purchase from one piece. Or agree with the current ones on a test period with a purchase from one piece or for the amount that you can afford.

Answer 3

• look at competitors what products are in the best sellers, more reviews, ratings, etc.
  but on the basis of this, make a list of goods, if finances
  do not allow, first make a purchase at a retail price in a smaller volume.
  Then, on any simple store engine or online builder, launch a website + groups in social networks. With a small budget, you launch a test advertising campaign.
  This method will allow you to quickly and on a small budget test your unit economy, how much you spend and how much you earn. Yes, you will work at a loss, but then you will know what products you need, and then by purchasing them at a wholesale price, you will know whether your business model will be profitable.
  This test option is better than if you spent a lot of money on developing a site and purchasing wholesale lots of goods, and then realized that your model does not work, and the money has already been spent.

Answer 4

If you do not have money to buy, then testing is extremely difficult. You cannot run a test for products in advertising accounts given your budget.
Accordingly, look at your competitors, what they have on the front lines for sale, what they are most focused on advertising in search engines, etc.
In many ways, you will have to rely on intuition and make mistakes.

Answer 5

1. The very first thing - do not buy anything in advance! From the word "generally". You never know anyway.
2. Do not look at competitors! Everyone has a different situation, even equals, and by definition you are not equal to them with your deficit.
3. How to work - yes, and work. Buy from you - buy yourself and deliver. You can't, sorry. Perhaps - at a loss, independently, at night and so on. Buy at retail high, if they don't sell cheap, cut the bones, try to develop intensively . sooner or later there will be a supplier who will look not at the one-time purchase amount, but at the monthly turnover - shift the focus there.
4. Delivery, delivery price, goods in our market - nothing. There is only one factor that decides: sales. if you have sales, if the client is satisfied with the service - feel free to set the price higher. Above all! It's OK.

Answer 6

There is a good book "Category Management in Retail" from the publishing house "Piter". Everything is written there how to work with the assortment. Despite the name, the principles are similar.