These days there are several earning opportunities available in the market. Many people want to explore such earning opportunities to work from home and earn a decent amount of money. Unique products are always in great demand and many people would be willing to try out unique products. There are pros and cons in this business, and we have to understand some of these pros and cons to be aware of what is happening if we do an online business.
Online seller takes a cut
We will not be able to sell our products online without any marketing. Even in a case where we sell the products on Flipkart or Amazon, there would be an initial effort where we have to make the product attractive. Let's say the product becomes popular and people are placing orders, the seller takes a cut. In our case, Amazon or Flipkart is the middleman that can take a cut and we might get a reduced amount as a reward. We have to adjust the price of the product in such a way that it covers the seller's cut too.
Focus on non-return products
Some products are very sensitive and it can be hard to sell them online. The reason is that if the product is fragile, it can be hard to transport them and deliver it to the person who ordered it without any brokerage. If we end up getting more returns and replacements, then we are not making enough money and we might lose a lot of money and reputation because of that. We have to either pack the products well or make sure we don't get many returns from the buyers.
There will be competitors
We might have done a lot of research work to choose a product to sell online but we have to remember that there will always be competitors. We shouldn't feel low when we see competitors. If we go to some food streets, we will be able to see many Chat shops one after the other. Each one will have their specialty and they don't feel back if the other person gets the business. Their focus is always on making their product the best. So when there is competition, we can focus on providing the best alternatives.
Reselling or creating
There will be confusion about whether to resell a product online or to create something from scratch. There will always be a demand for someone who is having the creativity to create something from scratch. It is said that home decor items are in great demand online and if we are very creative and we can create some home decor items with our creativity, those can have a good reach and the advantage of this is that we can make it unique.
I wouldn't say that reselling is bad because some products may not have good marketing but the product may be good. People can take up such products and resell them at an elevated cost. Buying products in bulk gives a good discount and selling them one by one online can give a good profit.
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