How to Source Products (+9 Top Websites and Apps) [2023]

How to Source Products (+9 Top Websites and Apps) [2023]

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To build a successful ecommerce business, you need an effective way to source products — but like so many things in life, this is easier said than done.

Before you can source products, you must choose a product sourcing method that works for you, evaluate different product sourcing companies, and then select a supplier to work with.

If that’s not enough hard work, there are so many options out there — which ones should you consider?

No need to worry — we’ve got you covered.

In this product sourcing guide, you’ll learn everything you need to know to get started. First, we’ll explore 3 popular product sourcing strategies. We’ll then take a look at 9 product sourcing websites and apps that you can use.

But first, let’s get on the same page:

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What Is Product Sourcing?

Here’s a quick product sourcing definition:

Product sourcing is the act of acquiring products that you can sell. Today, most businesses source products online via B2B marketplaces, but you can also source products locally or at trade shows.

How to Source Products for Your Business

Basically, there are 3 main product sourcing strategies — you can source products from:

  1. Dropshipping suppliers, for a hands-off experience
  2. Wholesalers, to sell third-party goods
  3. Manufacturers, if you want to create custom products

Each of these product sourcing methods will affect virtually every aspect of your business operations and sales efforts, so it’s vital to choose the best one for you.

Let’s explore each one in a bit more detail so you can decide how to source products for your business.

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1. Dropshipping Sources

Dropshipping is hands-down the simplest way to source products. The best part? Dropshipping isn’t just a product sourcing method — it’s also a fulfillment method.

So, how does dropshipping work?

First, you would partner with a dropshipping source and select the products you want to sell. You can then add these products to your store and start marketing them online. Then, when you receive an order from a customer, your dropshipping source will be notified, and they’ll send the product to your customer for you.

The image below illustrates this process:

Dropshipping Sources Explained

Dropshipping’s key strength is that you don’t need to buy inventory upfront — which means you can start an ecommerce business for just $39 per month with a Basic Shopify account.

What’s more, you can test as many products as you like without risk of losing investment. 

It’s also easy to scale since you can add products to your store without a time-consuming and costly product sourcing process.

That said, dropshipping can be very competitive thanks to a low barrier to entry. Also, profit margins are relatively low as you have to pay your dropshipping supplier to produce, store, and ship products to your customers.

Plus, it can be tough to differentiate your store from competitors’ if you’re selling generic products. But you can get around this issue by selling print-on-demand products — a type of dropshipping where your supplier adds your designs to products before shipping them to customers.

2. Wholesalers

This next way to source products kicks things up a notch. With this method, you would purchase products in bulk from a wholesaler.

Now, if you’re just starting out, it’s possible to have the goods shipped to your home. You could then store them in a spare room or in your garage and ship orders to customers yourself.

However, as your business grows, you’ll have to set up a warehouse and onboard a fulfillment team or hire a third-party fulfillment service to manage these tasks for you such as Shopify’s Fulfillment Network.

Shopify Fulfillment Network

The key advantage to purchasing products wholesale is that you’ll get a low cost per unit — and the more units you buy, the cheaper the unit will be. Consequently, the more money you invest upfront, the larger your profit margins will be — this is referred to as ‘economy of scale.’

Sourcing products in this way is also a relatively straightforward process.

Some wholesale suppliers also provide private label services — this is when you would purchase products in bulk and have the supplier add your branding to them. For example, Havlu Sport Beach & Swim Towels allows businesses to purchase a label package and sell towels under their own brand.

Sourcing Products From Wholesalers: Private Labeling

However, just like with dropshipping, it can be challenging to differentiate products from competitors if you don’t opt for private labeling.

And investing in inventory upfront brings financial risk as no product is guaranteed to sell. Although, you can reduce risk by selling pre-validated products from established brands.

Also, as your business grows, you’ll likely need to source products from many suppliers, which can create management challenges.

3. Manufacturers

Manufacturing is, without a doubt, the most challenging way to source products for your business.

Typically, you’ll start with product designs and prototyping. Then, once you have a finished design, you’ll evaluate manufacturers and order test batches before you select a supplier.

It’s also worth mentioning that it’s possible to work with a manufacturer to alter or improve a generic product they already make. That said, it’s nearly impossible to retain exclusive rights to the product you create if you do this. And so, the manufacturer is likely to sell the improved product to your direct competitors.

Still, if you have an original product idea and want to create something unique to set yourself apart from competitors, this is the only way to go.

Unsurprisingly, this product sourcing method is the most expensive and time-consuming approach. Manufacturers typically require high minimum order quantities to start production, and lead times can take months.

Plus, sourcing products in this way comes with all the same drawbacks that you’d encounter when purchasing goods wholesale, such as the need for an upfront investment, storage space, and fulfillment infrastructure.

To make things even more complicated, it can also be challenging to find a trustworthy and cost-effective supplier — especially if you’re sourcing products from abroad.

Choose a Product Sourcing Strategy

Now that you understand the 3 main ways to source products, which strategy is right for your business? Here’s what to do:

  • Dropshipping sources: If you’re just starting your entrepreneurial journey or would like to expand an existing business quickly, opt for dropshipping. This product sourcing method will allow you to hit the ground running and hone your business skills before risking capital purchasing upfront inventory.
  • Wholesalers: If you have experience running an ecommerce business and have some money to invest, consider purchasing products wholesale. Although you’ll need to set up a supply chain or work with a fulfillment service, you can enjoy higher profit margins and build a brand with private labeling opportunities.
  • Manufacturers: If you’re an experienced ecommerce seller with a unique product idea, capital to invest, and a willingness to take on complex challenges, consider sourcing products to sell from a manufacturer.

9 Product Sourcing Websites and Apps

Once you’ve chosen a way to source products, what’s next? Now it’s time to check out some sourcing websites and apps to find products for your business

Here are 10 product sourcing websites and apps to consider:

Dropshipping Sources

  1. DSers
  2. Printify
  3. Printful
  4. Dripshipper
  5. Creative Hub
  6. Lulu Xpress

Wholesale and Manufacturer Product Sourcing Websites

  1. Alibaba
  2. IndiaMart
  3. Made-In-China

Let’s take a closer look at each one.

Dropshipping Sources

1. DSers

1647793471 dsers

DSers is one of the leading dropshipping apps that provide a way to start selling products on Shopify in less than an hour!

Simply sign up for Shopify, add the DSers app, browse products, and add them to your store.

There are millions of products available in virtually every niche imaginable. However, it’s smart to create a branded store with a selection of complementary products in a particular vertical.

There’s a free plan available, too!

2. Printify

Printify

Printify is one of the best product sourcing apps for print-on-demand items.

It connects you to a host of print-on-demand suppliers all over the world, so you can choose a supplier that’s geographically close to your customers for faster shipping. There are also more than 300 products to choose from.

This product sourcing app also provides a super simple mockup generator to help you customize products with your designs.

Like DSers, Printify also has a free plan that you can use to get started.

3. Printful

Printful

Printful is another popular print-on-demand product sourcing app with more than 220 products that you can dropship.

It offers a range of printing and customization options, such as direct-to-garment, cut-and-sew, and embroidery. This product sourcing company also enables you to customize product tags and include branded inserts in the product packaging.

4. Dripshipper

Dripshipper

Dripshipper offers print-on-demand artisan coffee — so if you’re passionate about coffee, this is the dropshipping source for you!

The service ships whole beans the same day they’re roasted and ships ground coffee the day after it’s roasted. The service is based in the US but will dropship coffee worldwide.

5. Creative Hub

Creative Hub

Creative Hub is a print-on-demand company for art. It provides a complete white label service so you can sell art under your own brand name.

You can use Creative Hub to sell your art or contemporary art from the service’s library (if you do this, you would split the profits with the creators of the art that you sell).

The service is based in the UK but ships anywhere internationally for just £7 plus VAT.

6. Lulu Xpress

Lulu xPress

Lulu xPress is a print-on-demand service for books, calendars, comic books, and magazines.

The service offers plenty of customization options, and there are no set-up charges or handling fees. Also, this dropshipping source will ship products to your customers globally. 

It’s also worth noting that the company is a certified B Corporation and sources materials in a sustainable and environmentally conscious way.

Wholesale and Manufacturer Product Sourcing Websites

7. Alibaba

 Alibaba

If you’re interested in sourcing products wholesale or want to find a manufacturer, check out Alibaba. This platform is the largest B2B marketplace in the world. It houses suppliers from more than 190 countries and regions, although the majority are based in China.

If you use Alibaba, tread carefully — scammers use the site. However, there is a service called Trade Assurance that’s designed to help you find high-quality, reliable product sources.

8. IndiaMart

IndiaMart 

IndiaMart is the second-largest B2B marketplace globally and lists thousands of manufacturers and millions of products for wholesale.

As the name may suggest, most of the platform’s suppliers are based in India. IndiaMart also has a service to help buyers identify the best suppliers to work with.

9. Made-In-China

Made-In-China

Made-In-China is another hugely popular B2B marketplace that exists to connect suppliers in China with global buyers.

The platform offers a service that allows you to purchase reports detailing suppliers’ financial situation, product capacity, work environment, and more.

Summary: How to Source Products

Before you start looking for products to sell, it’s a good idea to choose a product sourcing method. In summary, there are 3 main ways to source products:

  • Dropshipping sources
  • Wholesalers
  • Manufacturers

Remember, if you’re new to ecommerce, it’s a good idea to avoid large risks and to hone your skills with dropshipping. But if you’ve got a little experience under your belt and some money to invest, consider sourcing products wholesale or work with a manufacturer.

To finish up, here are 10 of our favorite product sourcing apps and websites:

  1. DSers
  2. Printify
  3. Printful
  4. Dripshipper
  5. Creative Hub
  6. Lulu Xpress
  7. Alibaba
  8. IndiaMart
  9. Made-In-China

Which of these product sourcing apps are you interested in using? Let us know in the comments below!

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Rising Mortgage Rates Stalling Prospective New Home Buyers

Rising Mortgage Rates Stalling Prospective New Home Buyers

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It was bound to happen. Just as home builders began to feel more confident about attracting potential buyers, rising mortgage rates are proving too much for those customers.

After steadily rising for seven consecutive months, builder confidence retreated in August as rising mortgage rates nearing 7% (per Freddie Mac) and stubbornly high shelter inflation have further eroded housing affordability and put a damper on consumer demand.

Builder confidence in the market for newly built single-family homes in August fell six points to 50, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released August 15.

Home Builders Need Workers, Buildable Lots and Distribution Transformers

“Rising mortgage rates and high construction costs stemming from a dearth of construction workers, a lack of buildable lots and ongoing shortages of distribution transformers put a chill on builder sentiment in August,” said NAHB Chairman Alicia Huey, a custom home builder and developer from Birmingham, Ala.

Huey said that other factors are helping support the demand for new construction.

“But while this latest confidence reading is a reminder that housing affordability is an ongoing challenge, demand for new construction continues to be supported by a lack of resale inventory, as many homeowners elect to stay put because they are locked in at a low mortgage rate.”

Housing Affordability Compared to US Median Income

Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during the second quarter of 2023.

According to the NAHB/Wells Fargo Housing Opportunity Index (HOI), 40.5% of new and existing homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of $96,300.  This is down from 45.6% posted in the first quarter of this year, and the second-lowest reading since NAHB began tracking affordability on a consistent basis in 2012.

Where to Buy? Affordable Housing Markets Around the Country

The Housing Opportunity Index shows that the national median home price increased to $388,000 in the second quarter, up from $365,000 in the previous quarter. Meanwhile, average mortgage rates rose from 6.46% to 6.59% during this period.

The top five most affordable major housing markets in the second quarter of 2023 were:

  • Lansing-East Lansing, Mich.
  • Scranton-Wilkes-Barre, Pa.
  • Harrisburg-Carlisle, Pa.
  • Indianapolis-Carmel-Anderson, Ind.
  • Pittsburgh, Pa.

Top five least affordable major housing markets—all located in California:

  • Los Angeles-Long Beach-Glendale
  • Anaheim-Santa Ana-Irvine
  • San Diego-Chula Vista-Carlsbad
  • Oxnard-Thousand Oaks-Ventura
  • San Francisco-San Mateo-Redwood City

Meanwhile, Cumberland, Md.-W.Va., was rated the nation’s most affordable small market, with 95.5% of homes sold in the second quarter being affordable to families earning the median income of $89,900.

The top five least affordable small housing markets were also in the Golden State. Tied at the very bottom of the affordability chart were Salinas, Calif., and San Luis Obispo-Paso Robles, Calif., where 6.5% of all new and existing homes sold in the second quarter were affordable to families earning the area median income of $100,400 in Salinas and $113,100 in San Luis-Obispo-Paso Robles.

NAHB Chief Economist Robert Deitz Calls for Government Action

Deitz said that government policies aimed at helping builders could help the housing shortfall. He said the shortfall is currently about 1.5 million housing units.

“Declining customer traffic is a reminder of the larger challenge that shelter inflation is up 7.7% from a year ago and accounted for a striking 90% of the July Consumer Price Index reading of 3.2%,” said NAHB Chief Economist Robert Dietz. “The best way to bring housing inflation down and ease the housing affordability crisis is to enact policies at all levels of government that will allow builders to construct more homes to address a nationwide shortfall of approximately 1.5 million housing units.”

Builders Again Pressed Into Using Sales Incentives

The August HMI survey also revealed that rising mortgage rates are causing more builders to use sales incentives to attract home buyers.

After dropping steadily for four months (from 31% in March to 22% in July), the share of builders cutting prices to bolster sales rose again to 25% in August.

The average decline for builders reducing prices remained at 6%. And the share of builders using incentives to bolster sales was 55% in August, higher than in July (52%) but still lower than in December 2022 (62%).

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10 Best Marketplace Websites for Growing Ecommerce Sales

10 Best Marketplace Websites for Growing Ecommerce Sales

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Marketplace websites continue to attract ecommerce merchants from all corners of the globe. After all, there’s no better way to gain access to a broad, active audience than by selling through these sites. But while there are benefits to selling online via marketplaces, it’s important to consider factors such as transaction fees and commission to choose the best platform for you.

Below, we’ll walk you through some of the best marketplace websites you can consider for growing your business. You’ll get to choose from a good mix, including marketplaces focused on specific niches like furniture and tech. 

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Top online selling sites and marketplaces

1. Amazon

Top online selling site: Amazon

Unsurprisingly, Amazon takes the top spot due to its sheer volume of revenue and sales. It’s reported that the company sells over 400 products per minute, providing merchants with an active, high-intent audience to sell to. 

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Selling on Amazon requires you to sign up for an Individual or Professional plan. The Individual plan has no signup fees but requires you to pay 99¢ per item sold (plus the extra selling fees). The Professional plan, costing $39.99 per month, plus extra selling fees, is good if you want to sell more than 40 units per month and advertise your products.

Overall, Amazon is the best marketplace website to get your products in front of a broad, global audience.

2. eBay

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With approximately 187 million active users and a global presence, eBay remains one of the top places to sell any product online. 

Sellers can offer almost anything to buyers on eBay, from shoes and clothing to bottles of air. You’ll need to design your own eBay page, create optimized listings to attract buyers, and regularly interact with customers to maintain a high seller rating. There’s a handy quick start guide for beginners who need help taking advantage of the platform. 

eBay does have a couple of fees you need to be aware of. For instance, there’s a non-refundable listing fee for each product you want to sell. Moreover, you’ll have to pay a final value fee to eBay (ranging between 10% and 12% of the total sale). eBay also requires sellers to handle their own shipping and packaging requirements. 

Further Reading: How to Sell on eBay in 2023: From Listings to Sales

3. Swappa

tech buy and sell marketplace: Swappa

Got an old laptop you barely use? Or a gaming console that’s gathering dust in your loft? Turn your devices into cash on Swappa, an online marketplace for buying and selling all things tech. 

People trust Swappa because it doesn’t accept junk, meaning anything you sell must be in good working condition. The company vets every item sold on its marketplace and allows customers to pay securely via PayPal.

You can list a product on Swappa for free, but you’ll need to pay a $5 fee if you want to have it featured (like an ad). Once the item sells, buyers and sellers each pay a small 3% fee. Swappa has some of the lowest fees around, so you’ll make more selling on its marketplace.

4. Chairish

online furniture marketplace: Chairish

Chairish is a furniture-focused marketplace for companies and individuals selling high-quality home décor, accessories, lighting, art, and furniture. The website showcases trending products and new additions to customers, allowing them to purchase modern pieces for their homes.

It only takes a couple of minutes to list an item on Chairish. You can list your items for free, though around 20% to 30% of the sale price is given to Chairish as a commission. While you can use Chairish for free, an Elite plan is available for $149 per month. To join this plan, you’ll need to have all of your items approved by the Chairish curatorial team. 

The team edits your photos, handles shipping and logistics on your behalf, and helps attract buyers on the Elite plan, so it could be worthwhile if you’re a high-volume furniture seller.

5. Ruby Lane

best Etsy alternative: Ruby Lane

Ruby Lane is a more recent addition to the world of marketplace websites. The platform competes primarily with Etsy, connecting merchants with buyers of unique and vintage items.

Ruby Lane has a “collector’s hotspot,” where it advertises top-selling products from different categories like jewelry, furniture, fashion, and art. The company allows sellers to attach their sales to specific categories and upload various pictures of each item. 

Fees for Ruby Lane sellers are quite straightforward. You’ll be able to list your products for free, but you’ll need to pay a monthly maintenance fee, which varies depending on the number of items you list. Ruby Lane charges no monthly fee if a seller lists a minimum of 15 items per month. However, there’s a 9.9% service fee on every sale you make.

6. Poshmark

social commerce marketplace: Poshmark

First introduced in 2011, Poshmark is a social commerce marketplace where users across the US, Canada, and Australia can purchase and list lifestyle products for sale. The categories on Poshmark include clothing, home décor, beauty products, and more. You can even list your items by brand or create sales collections. 

Poshmark is popular among buyers and sellers thanks to its transparent pricing and excellent customer service. The company takes a flat commission of $2.95 from every sale under $15. If you sell products for more than $15, you’ll keep 80% of the sale price, while the rest goes to Poshmark in a commission.

With more than 80 million registered users worldwide, Poshmark is excellent for finding new customers.

7. Decluttr

Decluttr marketplace

Decluttr is a platform where merchants can sell various tech, such as computers, CDs, iPods, tablets, and game consoles. The marketplace offers a great experience to customers, who can sort through products by category or brand. 

Decluttr is slightly different from other marketplaces on this list. Instead of advertising your products to customers, you sell your items directly to Decluttr, and they market them to customers for their own profit. Using the company’s app, sellers can scan the bar codes of the items they want to sell and receive a fair price in return.

Decluttr handles all the shipping costs and pays you for your products as soon as they are received. If you want to avoid the headaches of marketing and logistics, Decluttr could be an excellent choice.

8. Wayfair

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A market leader in furniture, home décor, and household items, Wayfair is a great place to sell all kinds of products. The company has over 11 million active users and boasts massive high checkout averages of around $230 per transaction

For sellers, Wayfair offers a simple dropshipping model, where third-party sellers are listed as partners. When someone purchases an order on the Wayfair app or website, it’s forwarded to the seller’s warehouse, where they’ll be responsible for packing and shipping the order. However, Wayfair does handle shipping costs. 

Wayfair doesn’t charge any fees or take a percentage of partner sales. Instead, the company pays all partners the wholesale cost of the items, then sets a higher price for customers. Wayfair also hosts its own sales events, like Way Day, which is its own version of Amazon’s Prime Day sales. It’s a good option for niche furniture items that might be too expensive to sell on other marketplaces. 

9. Facebook Marketplace

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Facebook Marketplace is a section of Facebook where users come to discover, buy, and sell items. There are no listing fees on Marketplace, but there are certain guidelines you must follow when using the platform. Shopify merchants can sync their inventory, advertise products, and find new customers on Marketplace, courtesy of Facebook’s partnership with Shopify.

Marketplace offers a huge opportunity for sellers to reach an active audience. More than one in three people use the platform each month, meaning eyeballs are guaranteed when you list a product on Marketplace.

10. Offerup

sell via ZIP codes: Offerup

Offerup (formerly LetGo) lets shoppers quickly browse all sorts of products spanning fashion, electronics, and even automobiles, based on their ZIP code. Those interested can contact sellers through the Offerup app to decide a location to meet and negotiate price. If you’re looking to target people living close to you, Offerup can be a great choice.

Worried about your safety? Then you’ll be glad to learn that Offerup has remarkably strong safety procedures. Before you agree to meet up, you can browse individual profiles and read buyers’ reviews. Furthermore, Offerup recommends community meetup spots to make the transaction as easy and safe as possible.

Open shop on the best ecommerce marketplaces

Every ecommerce store owner should explore different marketplace websites, whether you’re selling custom products or running a dropshipping store. They often help new businesses get off the ground with great marketing opportunities and a built-in audience of active buyers. Use the above marketplaces as additional sales channels while using your own online store as a digital home base. 

Marketplace websites FAQ

What are the best marketplace websites for ecommerce selling?

  • Amazon
  • eBay
  • Swappa
  • Chairish
  • Ruby Lane
  • Poshmark
  • Decluttr
  • Wayfair
  • Facebook Marketplace
  • Offerup

What is the best marketplace to sell stuff locally?

  • Facebook Marketplace
  • Offerup
  • Decluttr
  • eBay
  • Poshmark
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A Simple Guide to Adding Keywords in WordPress

A Simple Guide to Adding Keywords in WordPress

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Learning how to add keywords to WordPress websites can make all the difference in whether or not you see your posts rank on the search engine results pages (SERPs). Think of it this way: Adding keywords to your WordPress website helps boost the odds that your content will be seen — and by the right eyes. If that’s not a compelling enough reason to learn how to add keywords to WordPress websites, we don’t know what is.

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Measure your performance with HubSpot's free WordPress plugin

In this guide, we’ll walk you through everything you need to know about keywords and your WordPress website. For starters, we’ll share what keywords are and why learning how to add them to your site is essential.

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Rising Mortgage Rates Stalling Prospective New Home Buyers

How “Express with Firefly” Boosts Small Business Content Creation

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Adobe has taken another giant leap in simplifying content creation for businesses with the all-new Adobe Express with Firefly, a generative AI tool now globally available for desktop web users.

What’s New?

Adobe Express’s latest edition is pioneering with its AI-first approach. Adobe Firefly’s generative AI capabilities transform creative expression, making it quick and effortless for users of all skill levels. This means small business owners can now easily design standout content, be it social media posts, engaging videos, striking images, or captivating PDF layouts.

Why is it Crucial for Small Businesses?

  1. Versatility: From enhancing images, laying out designs, and creating social video content to even editing PDFs, the new Express promises efficiency. Given the diverse content needs of a small business, having a versatile tool like Express is invaluable.
  2. Global Reach: The Firefly generative AI now supports over 100 languages, empowering businesses to create high-quality content tailored to different audiences worldwide.
  3. Integration: Small businesses using other Adobe tools like Photoshop and Illustrator can easily sync and incorporate assets into Express, ensuring brand consistency.
  4. Time-saving: Repetitive tasks can consume a considerable chunk of time. As Prudential Financial’s VP, Bridget Esposito, mentioned, Adobe Express allows teams to skip such tasks, focusing on high-impact work.

Innovations to Look Out For

  • All-in-one Editor: The possibilities are vast, from designing catchy content for platforms like Instagram and TikTok to generating custom images with Firefly using text prompts.
  • Deep Workflows with Creative Cloud: This facilitates an effortless transition between Photoshop, Illustrator, and Express.
  • Vast Content Collection: With nearly 200 million assets, including video and design templates, Adobe Stock images, and thousands of fonts, the creative canvas just got broader.
  • Real-time Collaboration: Co-editing and review/commenting features speed up the creation process, allowing teams to work together efficiently.

How Does This Benefit Small Businesses Specifically?

For small and medium business owners, the importance of brand visibility in the digital sphere is paramount. Tools like Adobe Express provide a solution that’s both powerful and user-friendly. The integration of Express into enterprises also means that branding remains consistent and impactful. Furthermore, with over 56 million students and educators worldwide having access to Express, businesses can also expect fresher, innovative content from young interns or new hires.

Adobe’s all-new Express with Firefly is a game-changer for small businesses. The tool simplifies content creation and ensures that the content stands out in the digital space. With its advanced features and integrations, it’s a must-have for every small business looking to make a significant digital impact.

Get the latest headlines from Small Business Trends. Follow us on Google News.

Image: Adobe




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