Finding the right suppliers can make or break your business, especially if you have a small boutique or are just starting out in a wholesale business. Sometimes, the main problem is that there are too many options! On platforms like Faire, there are plenty of reputable, high-quality suppliers, but how do you choose The One? Well, fear not, with a good strategy and a few easy tips, you can be purchasing new inventory in no time! In this article, we are focusing on how to find the best crossbody bag, but these tips can be applied to any item.
Effective search strategies
- Utilise the search function – as soon as you enter the Faire website, do not go to the main menu, instead dive into the search bar at the top of the page. By typing specific keywords like ‘wholesale crossbody bags’ will allow you to source relevant suppliers from the start. You can also experiment by adding extra keywords, such as ‘vintage’ or ‘leather’, at the beginning. This targeted approach helps you save time and explore options that fit your needs.
- Filter by price range – once you have the search results, don’t forget to filter them by price range. Setting a limit helps narrow down your choices within budget and makes it easier to compare different suppliers. Paying close attention to the price per unit will also allow you to compare the price-to-quality ratio across different collections or suppliers.
- Explore new suppliers – sometimes we get stuck in our ways, but if possible, keep your mind open to new possibilities. Brand new suppliers might be offering excellent promotions to establish themselves in the market. While existing suppliers like Dear Lover often offer competitive prices on the latest trends.
Supplier evaluation and research
- Check minimum order quantities – as your head starts to spin from all the designs and colours, take a break and focus on the numbers. Please pay attention to minimum order quantities (MOQs) as some of them can be quite significant. If you are new to the business or are experimenting with new marketing strategies, look for suppliers with lower MOQs.
- Read reviews – reading reviews from other retailers is like reading a gossip magazine about business. Look for reviews that mention customer service experiences, shipping times, and product quality. The risk is always there, but this is a great way to minimise it!
- Reach out for samples – do not be shy when asking the suppliers for samples of their wholesale crossbody bags or other products. Having a hands-on approach in your business can save a lot of headache in the future. Be polite and direct when asking for specific materials, colours or design options for your bag.
Cost management and relationship building
- Consider shipping costs – you might find yourself with a list of decisions made and a full shopping trolley, only to realise the shipping costs are way out of budget. It is worth finding this information out beforehand, as well as inquiring about bulk shipping rates.
- Look for promotions and discounts – it is a common practice to offer seasonal promotions or bulk order discounts. By signing up for newsletters and staying in touch with the suppliers, you can stay in the loop on the latest deals. By doing so, you can order a few extra crossbody bags with your savings!
- Join community groups – finding retail or wholesale-focused forums and communities can feel like finding a treasure of the century. Engaging in forums and networking with other apparel suppliers can offer invaluable insight into market trends and consumer preferences, helping you stay ahead of the curve.
Finding the right supplier is slightly more complicated than browsing a restaurant menu. You need a strategic approach for effective search strategies, cost management, and relationship building. But with the above tips, you will not only be able to find the right products but also create a sustainable and thriving retail business. Happy shopping!
