If you have consumer electronics to sell, you need to know a few points about the industry to be as successful as possible.
The first is the high competition in the consumer electronics industry. Consider all of the companies that have major shares in the electronic industry. Apple and Samsung are perfect examples, selling a broad range of products that come out in new models each year. Therefore, anyone getting into online consumer electronic sales should get started on the right foot.
The second point to remember is that if you’re planning on selling any consumer electronics, your best bet is to sell them online. A consumer electronics e-commerce store is your opportunity to stay relevant in the industry. Through e-commerce, you’ll be able to reach as many people as possible without spending resources on a brick-and-mortar storefront. At least to start out, e-commerce is the best way to go.
Some other points you need to consider before starting selling consumer electronics online include:
- How are you going to get your products? Are you going to buy them wholesale or from a specific retailer?
- How are you going to ship your products? Do you have the right resources to support your delivery process? With consumer electronics, you must choose your shipping options carefully.
- How are you going to reach your customers? Will you be using any marketing channels to get your consumer electronics to your target audience?
Once you take the time to figure out your processes, you’ll have a better understanding of what you need to begin with when selling consumer electronics products online.
What Consumer Electronics Can You Sell?
If you need any ideas on what electronics to sell, you can consider a few of the following ideas:
- Smart home: These products are designed to make people’s lives easier. An example would be Amazon Alexa, which has more than one smart capability that makes it more convenient for users. Alexa can answer questions, turn lights on and off, set reminders and play music — just to name a few capabilities. Overall, smart home products are only advancing, making them a perfect electronic item to sell on your online store.
- Computers: Whether for work, school or entertainment, millions of people use computers, and will continue to do so for the foreseeable future. Consider stocking your e-commerce store with laptops, desktops and computer accessories like keyboards and mouses.
- Personal devices: These are products such as tablets, headphones, smartwatches and smartphones.
- Electronic parts: Some people don’t purchase new computers or other electronics when they break. Instead, they find the parts to replace them. This could be a great market, especially if you tap into one niche, like keyboard switches and caps.
A smart idea might be to sell a combination of consumer electronics to make sure you can remain competitive in the industry.
Where Can You Start Selling Electronics Online?
Now, you need a way to sell your products. If you’re concentrating on the e-commerce market, you have numerous options to consider. Try the following:
- Website: For complete control over your products and sales, you may want to build your own website. For a simple e-commerce website, you could use platforms like Shopify or Wix. Note that with such platforms, you don’t own the website and might have a few restrictions with layout and functions. Another option would be to use WordPress or WooCommerce. The disadvantage here is that they’re more technical and could have higher costs.
- Amazon: If you want to prioritize high sales and reach the right audience, you can sell your consumer electronics on Amazon. Nearly everyone has used Amazon services at some point. The advantage of selling on Amazon is reaching many potential customers worldwide, having Amazon take care of some of the logistics and not needing to build a website. However, the central disadvantage is that there are selling fees involved with each sale. This cost decreases your profit margin, which is already low due to the competition in the industry.
- eBay: ebay is one of the most notable names in the reselling game, meaning you have the chance to reach millions of people worldwide. Similar to Amazon, there are fees that decrease your profit margin. Additionally, if you’re looking to sell new consumer electronics, it can be challenging to get buyers to purchase a new item over a used one, especially when it comes to computers. That said, using eBay in tandem with another selling platform could be beneficial.
- Facebook Marketplace: Facebook Marketplace is a quick, simple way to sell consumer electronics to people in your area. A key benefit is the platform’s ability to integrate with Facebook, Instagram, WhatsApp and Messenger Ads. Some sellers only sell on Facebook because of its connectivity. The main downside to Facebook is that you mainly have to speak directly with buyers.
- Walmart Marketplace: This is a great option that’s much less saturated than other similar platforms. With Walmart Marketplace, you can easily list all of your products and be able to reach many consumers. However, one disadvantage is they take referral commissions from every transaction.
It’s important to take time to understand which one might be the best option for you based on your goals. While you may start selling on one of the above platforms, you’ll likely eventually want to expand your business and sell your products using more than one of them. If you’re uninterested in starting your own website now, you should start with one of the marketplaces to begin. Then, you can always create a website once you’ve established your company’s brand identity.
Choose Finale Inventory’s E-Commerce Inventory Management Products
If you’re selling consumer electronics, you likely have an extensive inventory. To keep track of your sales data, turn to Finale Inventory’s multichannel inventory management software. With our software, all of your product and sales information is available in one place, meaning you can streamline processes from day one. Additionally, Finale Inventory integrates with more than 40 point-of-service and e-commerce sales channels for improved accessibility.
Whether you sell on your website or through online marketplaces, you can keep track of your inventory stock with a single software. Learn more about our software and how you can start taking advantage of it today. Start by scheduling a demo or requesting a free 14-day trial.