Right from the onset, Wholesalepages.co.uk has gone all out to facilitate UK wholesalers, manufacturers, dropshippers and distributors in every possible way. So as to work out the solution for the “product selection dilemma” for new startups, a group of successful wholesalers and drop shippers was invited to share their methods for choosing a product to trade.
As it turned out, there was nothing fancy in the approaches described by these veterans. For almost all of these experts, selection was based on a detailed analysis of the demand, supply and competition.
Their experiences combined with the findings of the research department were then redeployed to the programming unit.
The main idea was to build a tool that can generate valuable information quickly without getting overly expensive for small businesses. Luckily, search patterns from various search engines and shopping websites allow everybody to ascertain demand for a specific product. Similarly, competition can be judged by flicking through the numbers of suppliers providing similar products. All of these resources were aptly used in creating this tool, now popular as Market Wizard.
There’s no secret to success in wholesale trading business. The recipe is quite simple, choosing the right product and targeting the right market. Offer something, which is already in demand with low or medium level of competition and one is all set to grow. Whereas trying one’s luck with an item that is not looked-for by the customers or is already being offered by lots of other businesses, and one doesn’t stand a chance of success.
However, figuring out the right product requires plenty of research, analysis and experience. Determining demand is a tricky business; add to this the fact that the wholesalers don’t get to change the product without causing all kinds of inconvenience once they have started. Hence, they need not-to-be faulted in their first shot while picking out the product they are going to put on the market.
Market Wizard does no magic, but if somebody is looking for a quick yet detailed analysis of the demand, supply and competition for a particular product, it delivers big time. A quick search with the product name at Market Wizard will bring more than enough data to make up your mind. As soon as the wholesalers are able to pick out the right money-making product by utilizing this tool, they can consider themselves well en route to success and riches.