Are you a new gua sha store owner and urgently need to increase your store’s revenue? Or do you have a long-running store, but suffer from a long period of no growth in store profits? Today, you will get some inspiration from here.
We won’t give you a hint from the operational technology side of this post, we’ll start from the more practical product and supply side. Combined with our own situation and the actual experience of various customers, you can find tips and methods to improve your store’s revenue. Here you will learn how to reduce the cost of purchase, improve the profit of a single product and maintain the stability of inventory.
1. Look for Gua Sha Manufacturers, Not Traders.
Have you ever thought about whether your current supplier is a gua sha manufacturer or a supplier? If you’re happy with your current supplier prices, then you don’t need to pay too much attention to this topic. But if you want to reduce the cost of restocking, this is the most direct way. Choose a manufacturer instead of a trader and you’ll get at least 30-40% off. Take a look at the formula below:
Manufacturer’s Price = Product Cost × (1 + Manufacturer’s Profit Percentage)2w3
Trader’s Price = Manufacturer’s Quote × (1 + Trader’s Profit Percentage)
It’s easy to see from the formula that by choosing to source from the manufacturer, you’ll save the trader’s extra markup. 30%-40% off is no surprise.
Besides the cost of the product, you can also get more benefits, more stable product quality, a more accurate production cycle, etc.
We’ve covered how to find suppliers in an earlier article, and I’ll give a brief overview here. If you want to know more details, you can check our other article “How to Find Best Supplier?“.
1. Google Search
This is our most recommended course of action. The Google search function is very powerful, you can find almost everything on it, whether it is cosmetic scraping roller products, or various electronic parts, etc., you can find the manufacturer you need. The trick is to add “factory” or “manufacturer” to the end of the keyword for the product you want, such as “gua sha wholesale” Try to choose the top-ranking website, and pay attention to identify the credibility of the website.
2. Alibaba
When it comes to sourcing products from China, Alibaba is the most frequently mentioned platform. As China’s largest foreign trade wholesale platform, it has countless supplier information. Sounds great right? But it should be noted that if you want to find manufacturers from Alibaba, then you need to pay more time and effort than Google search. Because the store rankings on Alibaba are not for reference. If the supplier is willing to pay Alibaba a decent amount of money for the ranking, he can get a fairly high ranking, otherwise, your ranking will not be high. (It’s not just limited to ad rankings, but organic rankings as well.)
3. Made in China and Global Sources
These two are international wholesale platforms similar to Alibaba. However, these two platforms are higher than Alibaba in terms of the average quality of suppliers due to higher registration thresholds and requirements than Alibaba. And, if you want to source electronics, these two platforms are better options.
4. Field trips
If you have this condition, this is our most recommended course of action. You can have a direct dialogue with the manufacturer, which can give you a considerable level of confidence in your trade. But this approach requires many conditions. You need to spend a considerable amount of money and time, you need to prepare a corresponding entourage to ensure good communication between you and the manufacturer, and even you must always pay attention to the epidemic prevention requirements in different regions of China. Therefore, although this approach is the most direct and effective, it requires complex preliminary preparations and investment of funds and time. This is not the preferred way to be a novice seller or a small to the medium seller.
So to sum up, our most recommended practice is still Google search, and platforms such as Alibaba and Made in China are also good choices, but it takes more effort and time to identify.
2. Choose the Shipping Method that Suits You Best
What shipping methods are used for your imported goods? by sea? Air or ground? Sometimes, the right way to change transportation can bring unexpected benefits.
Let’s briefly explain the advantages and disadvantages of each mode of transportation.
Air freight: The advantage is that the transportation time is short, usually about a week. It is suitable for commodities with small quantities and urgent demand. The disadvantage is that it is relatively expensive and not suitable for transporting bulk commodities.
Shipping: The advantage is that the price is relatively cheap, and it can undertake the transportation of bulk commodities. Dozens of tons and hundreds of tons can be transported. The disadvantage is that the shipping time is long, often more than a month or even longer.
So do you know which shipping method is currently suitable for you? Or do you think your current shipping method must be the right one? You can think about these questions.
It’s hard to say that there is one shipping method that works for everyone, and everyone’s needs will be different. About 80% of the customers we met initially That want to choose air freight. But in the end, only half of the customers still insist on choosing air freight. The reason is that they urgently need this shipment, either to catch up with promotions such as holidays or because he needs to deliver the product to his customers within the stipulated time. So they must choose air freight to meet their needs.
From the results, it seems that a considerable number of people do not clearly know their needs for transportation methods, so they blindly choose the fast air transportation method. But if you want to save money, air freight doesn’t seem like a good option. Take our own products as an example.
A standard carton of our company can hold about 200 standard scraping boards. At this time, the weight of this package is about 13 kilograms. Shipping this package to the US by air will cost around $150-200. This is just the actual cost price, it will be higher if your supplier wants to make some profit from shipping. How much does it cost if I choose to ship by sea? Less than a hundred dollars. That is to say, if you choose sea freight, you will reduce the freight cost by at least 50%, compared with air freight.
How to judge whether you need air freight, you can refer to the following points:
- Does the shipment have to be obtained within a short period of time?
- Is this shipment a special product that must be delivered within a certain period of time?
- There are considerable requirements for product safety, and product safety must be guaranteed.
- Is it an area that cannot be reached by sea or land?
- Sufficient funds, it doesn’t matter the transportation cost, just want to receive the goods quickly.
If you meet the above situation, choosing air freight is a good choice. If not, then it is better to choose the logistics method of sea or land.
3. Suitable Gua Sha Product Packaging
You’ve probably heard a lot about packaging improving your product’s bottom line, and it’s true. The right packaging can really help your business to a great extent. For example, increase the profit of a single product, enhance the brand influence, maintain customer loyalty, and so on. But do you really need overly fancy packaging?
Excessively elaborate packaging may have effects including but not limited to the following:
- A sharp rise in selling price.
- Sharply rising shipping costs.
- Sharply rising supplier MOQ requirements.
- The sales situation may be unsatisfactory due to the high price.
- Higher storage costs.
How can you tell if your product is overpacked, or if your current packaging is right for you?
- Does the increase in packaging increase the sales revenue of the product?
- Does the packaging have a positive impact on your customers’ brand loyalty?
- Does the packaging put a lot of pressure on your capital chain?
- Is the packaging seriously squeezing your product inventory space?
If you are in the above points, the packaging has adversely affected you. Then it’s time to streamline your packaging choices. For packaging, you can refer to the following three suggestions:
- For low-priced products with price advantage as the selling point, try not to choose gift box packaging. You can choose cloth bags or simply do not need additional product packaging to minimize costs and reduce the final selling price.
- For in-store main selling products with considerable profits. You can choose a streamlined cloth bag, a paper box, or a plastic box. It will not increase the price of the product too much to avoid affecting the final sales situation.
- Personalized products for brands. It is the product that best reflects your brand image. Profits are considerable, but sales are not very large. At this point, you can choose exquisite packaging methods and customize the design to maximize your brand, deepen the customer’s impression of your brand and enhance customer loyalty.
Overall, the packaging is only a plus for the product, and the important thing is still the product itself. Usually, we strongly persuade customers to choose the most compact packaging method. It reduces the pressure on your cash flow and also avoids the environmental stress caused by overpackaging. Therefore, unless there is a real necessity, please try to choose a streamlined and environmentally friendly packaging method.
4. Gua Sha Private label Customization
You will find a pattern. The same product with a logo is often more expensive than without a logo. This rule applies to almost all industries. Why does this phenomenon occur? Simply put, customers are willing to pay for the added value of your brand. Customers will subconsciously substitute the logo into the value embodied by the product, and they will default to the product with the logo as the more valuable party.
About how to choose the appropriate private label customization, we have detailed instructions in other articles, you can check this article to learn more – “How to Find Best Private Label Soulation? “.
Choosing the right private label customization is an effective measure to increase profit margins.
Increasing profit margins is not as simple as raising the selling price. It is the result of a number of factors. For example, if you cut costs, your profit margins will increase while the selling price remains the same. If you keep costs constant, an increase in selling price will also lead to an increase in profit margins. It sounds simple, but it’s not easy to do. How to solve the problem of making customers willing to accept under the condition of increasing profit margins is the crux of the problem.
5. Improve Product Quality.
As we have mentioned more than once, the product is the key factor in determining the development of your business. High-quality products can retain customers, enhance brand influence, and increase profit margins. High quality often symbolizes high value.
How to improve the quality of your products?
- Have a clear view of your product spending, don’t lose more to save a little.
- Be careful in the selection of suppliers. It is better to choose a direct manufacturer. When there is a problem with the goods, it is necessary to communicate with the customer in a timely manner, and if necessary, the supplier can be changed without hesitation.
- Improve product awareness. You can check more peer products to understand the market conditions. So as to have a clear judgment on the quality of their products
In conclusion, you should try a number of ways to improve the quality of your products in your store, thereby enhancing the competitiveness of your own products.
6. Ensure the Stability of Inventory.
The importance of inventory is not reflected in prices such as selling prices. Its importance is that it directly reflects your in-store sales cap. When your inventory is low, you won’t be able to convert the best sales into your revenue. So you should make sure that your inventory can actually meet your current needs.
What is the measure of the adequacy of inventory? Honestly, there is no set standard. It should be based on your actual sales as well as the supplier’s lead time. You can refer to this standard:
The estimated sales time of the remaining inventory ≥ greater than your purchase time
for example. If you buy from a supplier and it takes around 15 days to deliver to you, your current inventory should be sufficient to support sales for a minimum of 15 days. If it is lower than this, you will have a period of time when there is no product to sell while waiting for a new shipment to arrive, which will be a loss, especially during the peak sales season. How to ensure the stability of inventory:
- Do a good job in data statistics, including inventory data, average daily sales data, etc. Easy to forecast.
- Maintain timely communication with suppliers to avoid the phenomenon that suppliers cannot supply in time due to insufficient production capacity.
- In the peak season, prepare enough product inventory in advance.
- If you have good communication with the supplier, you can request the supplier to reserve a certain number of products for you. In most cases, suppliers are happy to accept your request.
- You can choose drop shipping. This is the solution to completely avoid inventory problems. But if you own your own store, this isn’t a great way to increase your store’s revenue. It is only suitable for newbies who are just starting their own businesses.
That’s all for this article. In summary, it can be divided into three major points. Reduce costs (1, 2, 3 points), increase product added value (4, 5) and improve supply stability (6).
There are many ways to improve your store’s revenue. It includes technical skills such as improving store display, gaining traffic and how to promote your store on Google or Facebook. But as we mentioned at the beginning of our article, today we start from the more practical aspects of product and supply, product, logistics, inventory and so on. If you think some of the content in the article is helpful to you, you can share this article with other people who need it. If you think some content in the article needs to be improved or supplemented, you are welcome to leave a message or email us to have a discussion.
