Top Ways to Source Inventory for Amazon

Posted on by Kaylyn Perry

Starting an eCommerce business on Amazon can be exciting and rewarding, but inventory sourcing remains one of the biggest challenges.  So, just how do you source products for Amazon? While it can be broken down into rather simple steps, it’s a complex process that involves research, analysis, and time. And, no matter how good you are at sourcing, you’re not always going to win. 

Whether you’re just starting out or looking to expand your product line, finding reliable suppliers that can provide the products you need at the right price is vital. Read on as we explore several different ways to source inventory for Amazon and share strategies that can help you find the right products to sell and build a successful eCommerce business.

What is product sourcing for Amazon?

Product sourcing for Amazon involves finding and acquiring products to sell on the Amazon marketplace. Steps of product sourcing can include the following:

  • Researching and identifying products with profit potential
  • Negotiating with suppliers
  • Managing inventory
  • Logistics

Sellers can source products in a variety of ways, including manufacturing their products, dropshipping, or wholesale buying. Amazon product sourcing is a crucial step in the process of starting a business on the platform. It requires research, knowledge of the market, and networking skills to find the best products at the best prices. And by sourcing products effectively, sellers can increase profits and grow their business on Amazon.

How do you source products for Amazon?

There are several ways to source products for Amazon, depending on your specific business needs and goals. Here are some of the most common methods:

  • Purchasing from manufacturers: One common method of product sourcing for Amazon is to work directly with manufacturers to purchase products at wholesale prices. There are two ways to go about this:
  • Overseas supply: This involves working with a manufacturer or distributor based in another country to acquire products for your Amazon store or listing. This approach can be beneficial because it typically offers a wider variety of products at lower costs. However, it can also be more complex and time-consuming, as you’ll need to navigate international shipping and customs regulations.
  • Find a domestic supplier: You can also research and reach out to manufacturers or distributors within your country. This sourcing method reduces shipping times and costs, as well as ensures compliance with regulations and laws. Consumers may be more willing to purchase if they know your product is made and sourced in the USA, but it can drive costs up. 
  • Buying products from wholesalers: Wholesalers sell products in bulk to retailers at a discounted price. This method allows sellers to purchase a large number of products at once, and then resell them on Amazon.
  •  Selling handmade goods: This approach is ideal for entrepreneurs who create their own products and want to sell them on Amazon. If you’re an artist, designer, or craftsperson, selling handmade goods on Amazon is a great way to reach a global audience and turn your passion into a profitable business. However, you may have better luck on marketplaces that favor custom work such as Etsy.
  • Liquidation: Some sellers also choose to source products from other retailers, such as liquidation companies or clearance sales. But this method can make it more difficult to find products in large quantities and the condition of the products may vary.

Regardless of how products are sourced, sellers can take advantage of  Fulfillment by Amazon (FBA). Under this program, sellers can send their products to Amazon’s warehouses to store and ship the products to customers on their behalf. This can help reduce overhead costs as well as expedite shipping times. It can also help save on labor. 

Tips for finding the best products to sell on Amazon

Selling on Amazon can be lucrative, but it all begins with finding the right products to sell. With so many options and competitors, it can be hard to know where to start. Here are some tips to help you find the best products to sell on Amazon:

  • Low competition: One of the most important factors to consider when finding products to sell on Amazon is the level of competition. It can be difficult to compete with established sellers who have been in the market for a long time. Find categories with relatively few sellers, or search for products that don’t have a lot of similar items listed. You can also look up products in niche categories or identify unique features of a product that sets it apart from others.
  • Best sellers rank: Another important metric to consider is the Best Sellers Rank (BSR) of a product. This ranking is based on the sales of a product and is a good indicator of its popularity. When searching for products, look for categories with at least three results with a BSR. This will give you an idea of which products are selling well and which are not.
  • Request samples: before making a large purchase, it’s always a good idea to request samples of the product. You can test them out and see if they are of high quality and a good fit for your target market. It also gives you a chance to take pictures and make videos of the product to use in your listing.
  • Understand and calculate all your fees: Before selling on Amazon, understand and calculate all the associated fees. This includes Amazon’s referral fees, fulfillment fees, and other charges. Doing this ensures that your profit margins are sufficient and that you are not losing money on your sales.
  • Choose the best shipping method: Shipping costs can make or break your profits on Amazon. Choose the best shipping method that’ll keep your costs low while ensuring fast and reliable delivery to your customers. Consider using Fulfillment by Amazon (FBA) for your products as it offers several benefits such as discounted shipping rates, and improved visibility for your products.
  • Pick products that cross-sell well: When looking for products to sell on Amazon, pick those that cross-sell well with other products. This helps increase your sales and profits. For example, if you sell kitchen appliances, you can also sell related items such as kitchen utensils, cookware, and even recipe books.
  • Pay attention to Amazon customer reviews: Amazon customer reviews are a great way to gauge the popularity and quality of a product. You can identify products that are in high demand and have a high satisfaction rate among buyers. This can help you make informed decisions when selecting products to sell on Amazon. Reviews can also help you determine areas of improvement for existing products.
  • Price negotiation: Once you have found a product you’ll be selling, always negotiate the price with the supplier. Consider requesting a discount or asking for a better deal. Negotiating with suppliers increases your chances of getting a better deal on the products you are interested in, which helps improve your profit margin.
  • Alibaba: Alibaba is a popular platform for connecting with suppliers. Suppliers on Alibaba can make custom products or prefabricated products. Alibaba can be confusing to navigate so do some research. Consider getting a mentor that’s familiar with the site.
  • Use product data: There are applications that can be downloaded to help sellers identify what products are selling well and where there may be opportunity.

How Kickfurther can help

Amazon sellers may be able to cut costs on fulfillment, storage, and hosting a platform – but they will need plenty of funds for inventory. And, that’s where Kickfurther comes in. Kickfurther can help Amazon sellers access affordable inventory funding. As the world’s first online inventory funding platform, Kickfurther enables small businesses to access funds that they are unable to acquire through traditional sources. 

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity.

Why Kickfurther? 

No immediate repayments: You don’t pay back until your new inventory order begins selling. You set your repayment schedule based on what works best for your cash flow. 

Non-dilutive: Kickfurther doesn’t take equity in exchange for funding.

Not a debt: Kickfurther is not a loan, so it does not put debt on your books. Debt financing options can sometimes further constrain your working capital and access to capital, or even lower your business’s valuation if you are looking at venture capital or a sale.

Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Kickfurther puts you in control of your business while delivering the costliest asset for most CPG brands. And by funding your largest expense (inventory), you can free up existing capital to grow your business wherever you need it – product development, advertising, adding headcount, etc.

Closing thoughts 

Sourcing inventory for Amazon can be seamless with the right strategies and tools. Whether you choose to work with a supplier, dropship, or even consider retail arbitrage, do your research and find the best option for your business. The key to success on Amazon is having a steady stream of profitable products to sell. With the right approach, you can find and source the inventory you need to grow your business and achieve success on the platform.

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about Amazon inventory financing options with Kickfurther.

Working Capital Financing Options for Women

Posted on by Kaylyn Perry

Women generally are less likely to be approved for small business loans and can have  a harder time obtaining financing for their businesses. Because of this, many female entrepreneurs explore a working capital financing solution.

Working capital financing is an alternative way to cover those day-to-day expenses without securing a larger investment or loan. By leveraging the business cash flow, working capital financing products are quick to obtain and offer many options to fit your business needs.

At Kickfurther, we’re working to help provide access to the funding female business owners need to grow their inventory and scale their businesses. Here’s how working capital can benefit women-owned businesses.

What is working capital financing  for Women?

According to the Federal Reserve, female entrepreneurs are less likely to get approved for a small business loan than male peers. Working capital financing is a straightforward and simple way for women to get the funding they need to cover everyday operation expenses like payroll, marketing, and other short-term expenses that are necessary for running a business.

Working capital loans are secured loans that are paid out in a lump sum with a set repayment period. They’re often secured with collateral from the business, like unpaid invoices or equipment and are repaid over a shorter period of time. Alternative loans such as inventory loans or equipment loans can be used to free up working capital as well. Inventory loans and equipment loans are for a designated purpose and are usually secured by the purpose i.e. the inventory or equipment.

What are the types of working capital financing options available for women?

While working capital is a type of alternative financing, several different lending products fall under the working capital category. Some of the most popular ones include:

  • SBA Loans: The Office of Women’s Business Ownership, a program coordinated by the Small Business Association, offers special resources and training to help women get the funding they need for their businesses. Specifically, the SBA offers a program called 8(a) Business Development, which helps smaller or disadvantaged companies obtain financing. Through this program, the SBA will help connect female entrepreneurs with lenders that are interested in working with them.
  • Invoice Financing: With this working capital option, a business’s unpaid invoices are considered collateral to qualify for funding. Invoice financing involves selling outstanding invoices to a third-party company, which will offer the outstanding amount minus any fees.
  • Merchant Cash Advances: Another common type of working capital financing is a merchant cash advance. This solution will give business owners a lump sum of money, which the borrower will then repay by providing a percentage of their credit card transactions to the lender. This is a good option for businesses that do a lot of credit card sales, but it can also be expensive depending on the factor rate of the loan.
  • Inventory Funding: Inventory funding can be used to fund inventory and free up cash flow. At Kickfurther, entrepreneurs can secure inventory funding through a community of backers. Our solutions are up to 30% cheaper than alternative options. 

Which financing option is best for women entrepreneurs?

Depending on your business model, the amount needed, and the repayment terms you’re able to afford, it’s best to explore all options to find the best fit. 

As female entrepreneurs consider the working capital financing option that’s best for them, it’s crucial to have a clear picture of your business’s revenue. If your business has a lot of outstanding invoices, invoice factoring might be a good option for you. Or, if you don’t do many credit card sales, it’s probably ill-advised to move forward with a merchant cash advance.

What credit score is required to qualify for working capital as a women based entrepreneur?

One of the biggest benefits of obtaining a working capital loan is that the credit score requirements are less stringent than traditional financing. While a higher credit score will unlock the best rates, even borrowers with a low credit score of 500 can qualify for a working capital loan. This makes it an excellent solution for those who aren’t eligible for traditional financing or with poor credit.

Tips for applying for working capital financing 

Applying for working capital financing as a female entrepreneur is a bit different than the process of applying for a traditional loan option. Since the qualifications are based on your business’s cash flow, here are some tips we suggest to boost your approval chances:

  • Borrow only what you need – The lower the amount you need to borrow, the more likely you’ll get approved for financing. By only borrowing what you need, your repayment will be lower, and you’ll pay less in interest.
  • Prepare and submit a business plan – Your lender will feel confident and assured that you have a clear way to repay the loan if you submit a thorough business plan with your application. This will outline your business goals, growth plans and a specific plan on how you’ll pay back the loan.
  • Calculate your quarterly cash flow – One way to understand how much you should apply for is to have a clear picture of your business’s quarterly cash flow. Since working capital financing is secured by your company’s revenue, having a solid cash flow will help your approval odds.
  • Shop for a lender that specializes in working capital – As you review all your financing options, it can be beneficial to pick a lender that specializes in working capital.

Are there tax advantages for women entrepreneurs? 

While there is no federal tax code that benefits women entrepreneurs, there are some ways that minority business owners can benefit from certain tax incentives and programs.

The New-Markets Tax Credit is one tax program that offers incentives for investing in minority businesses in low-income areas. Investors who give capital or funding to qualified businesses can benefit from a 39% tax credit over seven years. This could help female entrepreneurs attract outside investments if they fall within the guidelines.

Additionally, there are tax breaks for businesses operating in an “empowerment zone.” These zones are outlined by the Department of Housing and Urban Development and the Department of Agriculture and provide tax credits for businesses operating in these designated areas. The “empowerment zones” have been designated as areas that could benefit from additional economic growth.

Make sure to speak with a qualified tax advisor to learn more about these tax programs and how they could impact your business.

How Kickfurther can help

For many female business owners,  inventory is their largest operating expense. At Kickfurther, we connect women entrepreneurs with a community of buyers looking to fund inventory, allowing you to repay the financing on your own terms.  Kickfurther will directly pay your manufacturer, giving you access to the inventory you need. And with customized repayment schedules, you won’t start making payments until you start making sales.

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity.

Why Kickfurther? 

No immediate repayments: You don’t pay back until your new inventory order begins selling. You set your repayment schedule based on what works best for your cash flow. 

Non-dilutive: Kickfurther doesn’t take equity in exchange for funding.

Not a debt: Kickfurther is not a loan, so it does not put debt on your books. Debt financing options can sometimes further constrain your working capital and access to capital, or even lower your business’s valuation if you are looking at venture capital or a sale.

Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.

Kickfurther puts you in control of your business while delivering the costliest asset for most CPG brands. And by funding your largest expense (inventory), you can free up existing capital to grow your business wherever you need it – product development, advertising, adding headcount, etc.

Closing thoughts 

If you need a fast and flexible loan for your business, working capital financing is a great alternative solution to traditional business loans. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. Kickfurther can help startups and small businesses fund millions of dollars of inventory at costs up to 30% lower cost than the competition. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. 

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about Financing Options for Women Based Entrepreneurs

5 Tips to start a successful Shopify CBD store

Posted on by Kaylyn Perry

Did you know that a Shopify CBD store can be a lucrative business venture? 

CBD is the latest craze. This non-psychotic cannabis constituent is known for producing many wellness benefits including stress and pain reduction. Many entrepreneurs are getting in on the ground floor by opening their own CBD businesses. Some even using Shopify as a retail platform 

Shopify is an all-in-one commerce platform that makes it easy to launch your dream business.  But, can you sell CBD on Shopify? 

Is it legal to sell CBD on Shopify?

Yes, it’s legal to sell CBD on Shopify but you’ll need to adhere to certain guidelines. 

First, there are certain rules and regulations concerning CBD sales. They differ from state to state. You must consult a lawyer to find out about the laws that apply to ensure your CBD store doesn’t get shut down.

There is also a Shopify CBD policy that you must comply with. If you sell edibles or gummies, you will also have to consult with the FDA to ensure all the products you carry are up to code.

Types of CBD products you can sell

There are a variety of CBD products you can sell on Shopify, including the following. 

  • Capsules: CBD capsules contain a CBD extract covered by a softgel. People enjoy their convenient dosage form.
  • CBD for vaping: Some people take advantage of CBD benefits by smoking it in a vape pen. Customers can purchase vape cartridges filled with CBD for this purpose. Many cannabis businesses also sell a variety of vaping accessories.
  • CBD Edibles & Gummies: CBD is often added to food products like gummies and baked goods like cookies and brownies. When consumed in edibles, the onset is delayed but the effects are more powerful.
  • CBD Topical creams and ointments: CBD can be infused into creams and other topicals. These are typically applied directly to the skin to reduce pain. CBD can also be used in beauty product creams for its moisturizing effects.
  • CBD Oils: CBD extract is also available in liquid form as an oil that can be administered under the tongue with a dropper.

Will I need a license to sell CBD in my Shopify store?

Only Canadian sellers are required to obtain a license to sell Shopify CBD products. They must also use Shopify Plus.

Sellers in all other jurisdictions must follow Shopify’s Terms of Service and Acceptable Use Policy which ensures they are complying with all applicable laws and regulations. However, a license is not necessary.

How profitable is the CBD industry?

CBD has been steadily growing in popularity over the past few years. People love it because it’s an all-natural remedy that offers a variety of health benefits. As a result, CBD sellers are seeing considerable profits.

According to Leafly, long-term CBD sellers can see average profits of around 15%. However, this is contingent on using smart business strategies. Taxes, operating costs, and the size of the business will also affect how much the company nets.

How to apply for a CBD Merchant Account

CBD is currently considered a high-risk business. Therefore, it can be difficult to find a financial institution to process payments.

Shopify does not provide a payment processor for CBD purchases due to its high-risk status. Therefore, you will need to go through a third-party merchant.

Here are the steps you will need to take to apply for a Shopify CBD merchant account:

  • Apply for the Merchant Account: First you will need to apply for your merchant account. The merchant will want to know how long you’ve been operating and what your sales volume and chargeback rates are like.
  • Complete the underwriting process: Next Shopify will go through the underwriting process which involves accepting financial responsibility for your transactions. They may require documentation such as a Certificate of Analysis that shows the THC content in your product is below .03%.
  • Approval: Once you’re approved, you can enjoy a seamless experience through the Shopify platform. You should have access to your money as soon as transactions are processed by the bank. You will also be able to take advantage of Shopify features including a portal where you can view all your transactions and risk management tools.

Tips to maximizing your revenue

There are several strategies you can use to maximize revenue for your Shopify CBD store. Here are some tips for maximizing revenue.

  • Connect to an email marketing platform: Email has been shown to produce a high ROI. You can link directly to Constant Contact’s Shopify integration to stay connected with customers and promote repeat business. You can send out welcome emails, newsletters, and abandoned cart emails to keep business flowing.
  • Focus on customer retention: You can keep customers coming back by offering loyalty programs, discounts and great service. Quality products and prompt delivery are important too. 
  • Use SEO: SEO strategies will ensure your Shopify CBD store is as visible as possible. It involves using keywords in your product descriptions. You will also bring in customers by making your descriptions accurate and enticing.
  • Focus on the right products: There are many CBD products you can offer for sale. To be competitive in the marketplace offer a variety of products and don’t forget to offer a description. Find ways to differentiate your products from other brands. Specializing in certain types of products can also help you capture more sales and a loyal clientele. 
  • Encourage cross selling and upselling: You can cross sell or upsell your products to increase revenue. Cross selling involves trying to get customers to purchase additional products. For example, if someone buys a vape cartridge, you can recommend they purchase other vape accessories. If they purchase a certain type of cannabis, you can upsell and recommend they buy a higher grade that’s more expensive, but also more of a value. You can program the platform to automatically make upselling and cross selling recommendations.

How Kickfurter can help

Kickfurther is the world’s first online inventory funding platform that enables small CBD businesses to access funds that they are unable to acquire through traditional sources. CBD companies are often deemed high-risk and therefore struggle to obtain affordable financing, or for that matter, even be given a chance. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. 

Kickfurther can help startups and small businesses fund millions of dollars of inventory at costs up to 30% lower cost than the competition. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. 

Closing thoughts

While online businesses can enjoy reduced overhead and less staffing, overhead is still high. Oftentimes, Shopify CBD retailers encounter cash flow challenges as a direct result of inventory costs. Before diving into inventory funding, make sure that inventory is being properly managed and any waste is eliminated. Once you have momentum and an efficient inventory system, you’ll be ready to explore inventory funding. 

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about CBD Inventory Financing Options with Kickfurther.

How to Sell on Walmart Marketplace in 3 Easy Steps

Posted on by Kaylyn Perry

As online marketplaces continue to revolutionize the ease of selling products online, Walmart is earning a large part of the market share. Learning how to sell on the walmart marketplace creates more opportunity to sell products. With eCommerce and online shopping growing rapidly, competition is becoming more fierce. Therefore, you need to be an expert in the community to dominate. Companies such as Amazon and Walmart offer online marketplaces that consumers frequent. On these marketplaces, there are third-party sellers, which allows the host to profit and attract more consumers without managing more products. To start your journey as a Walmart seller, keep reading to learn how to sell on the Walmart  marketplace.

What is Walmart Marketplace?

Just like Amazon, the Walmart marketplace is a platform where consumers can find just about everything they need. Within the marketplace though, products are sold by third-party sellers. This means that although consumers are on the Walmart site – they are not dealing directly with Amazon. You can compare the marketplace to eBay or Amazon. The idea behind the marketplace for Walmart is that the partnerships compliment first-party offerings on Walmart. Selling on Walmart is easy with no setup or monthly fees. Sellers will just need to pay a commission rate that can vary by category. Rates range from 6% to 20%. 

What are the requirements to sell on Walmart marketplace?

While requirements are not written in black and white, there are some that are. At a minimum business will need to meet the following requirements: 

  1. Have and present proof of a US Business Tax ID (SSN not accepted)
  2. Verification of businesses address or physical operation location (W9 or W8 and an EIN verification letter)
  3. Located in the United States
  4. Product information (example – total number of SKUs, used vs. refurbished)
  5. List and link of marketplaces you currently sell on
  6. Explanation of why you are a qualified seller that’s good for the marketplace
  7. Company website
  8. Average online revenue figures

Additionally, it’s recommended that your business have at least $500,000 per year in total sales that can be proven. Sales should be through Amazon or another online marketplace. Walmart is looking for experienced sellers that provide superior customer service, hence the requirements. Plus, they will want to see that your product is different from what is already on their site. As a final step, Walmart will want to ensure that you can fulfill products in a timely manner.

Pros and cons of selling on Walmart Marketplace

  • PROS
    • Low seller fees. Merchants are only required to pay a referral fee, which can vary depending on the product category. For example, video game consoles are 8% and jewelry is 20%.
    • Opportunity to facilitate and manage return policy. Walmart does not regulate return policies, which is a good thing for sellers, but maybe not such a good thing for consumers. Sellers on Walmart must have a written return policy less than 4,000 characters. 
    • Less competition. Walmart is a healthy marketplace with 70,000+ sellers, but compared to other major players such as Amazon, the marketplace is fairly small. Amazon has about 2.4 million active sellers. 
    • Access Walmart customer base. Walmart customers are after value. And Walmart often delivers more than what they are looking for. Therefore, their marketplace attracts traffic and most visitors believe they will find value through the Walmart brand.
  • CONS
    • Pricing parameters can be strict. Sellers are held to standards that force them to make sure products are not available for a cheaper price elsewhere. Check out Walmart’s Price Parity Rule or Price Leadership Rule. To be clear, sellers can set their own prices, but they could not offer the same product for less on Amazon. 
    • Reduced profit margins. Walmarts slogan Everyday Low Prices may require sellers to offer products for cheaper than they want.
    • Less traffic than other marketplaces. Walmart is not the biggest player in the online marketplace space. Amazon generates about 80 million more visitors per month compared to Amazon. 
    • Unfair advantage as the result of a first-come, first-serve system. Walmart marketplace prioritizes sellers that come first. Therefore, when it comes to the Buy Box, the seller that listed first may be prioritized. To get more Buy Box time, you’ll need to compete on price. 

Walmart Marketplace Fees Explained

Walmart has a unique fee schedule for sellers. With no setup, subscription, or monthly fees you can rest assured that Walmart is still profitable. Walmart charges sellers referral fees which vary depending on the category of product. You can visit the Walmart site to find a complete list of referral fees. For example, consumer electronics are 8% and kitchen is 1%.

How to Sell on Walmart Marketplace in 3 Easy Steps

Step #1: Complete the application process

If you meet the requirements to sell on Walmart, you can apply. Before applying you should gather documentation that may be requested, some of which we referenced above. Documentation includes W9 or W8, U.S. Business Tax ID, and so forth. If you have documentation handy, the application can be completed in as little as 10-15 minutes. 

Step #2: Once approved, it’s time to register

After submitting your application, Walmart can approve it. Once approved, they should email you a link to register your business. The registration process includes six steps as follows:

  • Account creation
  • Walmart Retailer Agreement
  • Company registration
  • Tax forms
  • Payment info
  • Shipping info

Step #3: List products, test listings, and start selling live!

As a final step, you’ll need to create listings. To ensure listings are functional, Walmart encourages sellers to test items first. This means you will make sure the listing works properly by adding items to your cart, changing quantities, and ordering. Products will not show up live on Walmart until testing is complete. When ready to go live, Walmart will perform a  final review and make your account go live when complete.

Is it easy to sell on Walmart Marketplace?

Selling on an online marketplace is easy, but that does not mean hard work and creativity are not driven factors of success. You’ll have plenty of competition so your products and service will need to stand out. Not to mention that your prices will need to be competitive. Selling volume can help drive prices down, so if needed, consider using funding to afford more inventory or secure bulk discounts. 

How to get approved to sell on Walmart Marketplace

First, you’ll need to meet the requirements as discussed. While approval is partially left up to Walmart discretion, here are some of things they are looking for when approving sellers: 

  • Must be a legitimate company 
  • Prove that customer service matters – and that you’re taking care of customers
  • Sell products that compliment Walmart’s marketplace
  • Keep prices competitive
  • Demonstrate an effective and capable fulfillment process
  • Be prepared to provide Walmart with inventory info once approved

Although it may seem obvious, you also cannot sell prohibited or restricted products like animals, alcohol, drugs and medical devices, certain jewelry items, weapons, offensive products, and more.

Tips for getting started

Starting a new business venture is exciting, but it does not come with an investment of time, resources, and money. Before diving in as a Walmart seller – be prepared. Walmart is not looking to be a gateway for rookie sellers. While they make it easier to sell online, they want companies that have established sales and processes and a care for customer service. Your brand reflects theirs, so do what you can to demonstrate that you will be a valued partner – just as they are!

How Kickfurther can help

Selling online requires sellers to compete on price. Part of keeping costs low is ordering in bulk. Plus, you always want to ensure you have enough inventory in stock so you don’t miss a sale. Online sellers can benefit from affordable inventory funding, which Kickfurther can help provide. 

Kickfurther funds up to 100% of your inventory costs on flexible payment terms that you customize and control. With Kickfurther, you can fund your entire order(s) each time you need more inventory and put your existing capital to work growing your business without adding debt or giving up equity.

Why Kickfurther? 

  • No immediate repayments: You don’t pay back until your new inventory order begins selling. You set your repayment schedule based on what works best for your cash flow. 
  • Non-dilutive: Kickfurther doesn’t take equity in exchange for funding.
  • Not a debt: Kickfurther is not a loan, so it does not put debt on your books. Debt financing options can sometimes further constrain your working capital and access to capital, or even lower your business’s valuation if you are looking at venture capital or a sale.
  • Quick access: You need capital when your supplier payments are due. Kickfurther can fund your entire order(s) each time you need more inventory.
  • Kickfurther puts you in control of your business while delivering the costliest asset for most CPG brands. And by funding your largest expense (inventory), you can free up existing capital to grow your business wherever you need it – product development, advertising, adding headcount, etc.

Closing thoughts

The rapidly growing Walmart marketplace is attracting new sellers daily. But, to get in, you’ll need to prove your worth. Part of that is demonstrating a plentiful inventory supply and efficient fulfillment practices. Inventory funding for Walmart can free up cash flow so you can invest in your business all while stocking plenty of inventory. 

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about Walmart Inventory Financing options with Kickfurther.

Maximizing Growth and Revenue with Product Bundling

Posted on by Kaylyn Perry

Product bundling is a smart marketing strategy that combines multiple products into a single offering. It’s a powerful tool that creates value for buyers through discounts and convenience, while expanding the product portfolio and customer base for the ecommerce retailer. By packaging related items together, product bundling provides a win-win situation for both parties – customers receive more for less, while businesses increase sales volume and product diversity. 

The Advantages of Bundling for Ecommerce and Retail Businesses

The advantages of product bundling are numerous and can help businesses drive growth and increase revenue. By wrapping items together into a more attractive package, retailers can attract more customers and raise their average order size.

Boost Average Order Value

Product bundling is a proven way to increase the average order dollar amount. By offering lower product costs and higher market appeal, customers can purchase multiple items at a discounted price, allowing them to buy more than they would have if purchasing the same items individually.

Upsell Opportunities

Product bundling can also create opportunities for businesses to upsell their products. By offering complementary products together, businesses can encourage customers to purchase additional items that they may not have considered before. This not only increases revenue but also introduces customers to new products and expands the business’s product portfolio.

Revamp Bottom-Selling Inventory

Product bundling can help businesses move their bottom-selling items. By combining them with better-selling items, the cost can be reduced, delivery times can be faster, and the customer experience when purchasing can be improved. Additionally, businesses can leverage the strong brand recognition of high-volume items to bring attention to lower-volume units, generating more sales.

Streamlined marketing efforts

Product bundling can also streamline marketing efforts by allowing businesses to promote multiple products at once. Instead of marketing each product individually, businesses can package products together and market the bundle as a single offering. This can save time and resources, as well as increase the visibility and appeal of the bundled products.

Increased Customer Loyalty

Product bundling can increase customer loyalty by offering them a better value proposition and creating a sense of exclusivity. When customers receive a bundle of products that they want or need at a discounted price, they feel appreciated and valued. This can result in repeat business and positive word-of-mouth recommendations.

 

Different Types of Bundling Strategies

Product bundling can be a great way to increase sales and offer customers a variety of options. Different types of bundling strategies include mix and match bundles, cross-sell bundling, new product bundling, BOGO (Buy-One-Get-One) bundling, old inventory bundling, and mystery box bundling. Each strategy has its own advantages, and the right one will depend on the business’s target market and goals.

Customize Your Bundle Packaging

Personalizing the way you package your bundle provides customers with a distinct buying experience that keeps them coming back for more. By adding unique package inserts, customers receive not only the product they purchased but also an idea of how to use it and what other items go best with it. This small touch creates a sense of ownership and pride in the purchase, making customers feel valued and increasing customer loyalty.

Partner with a Third-Party Logistical Provider (3PL)

Partnering with a 3PL provider like Badger Fulfillment Group to bundle your products can bring many benefits. 3PLs have expertise in logistics and shipping, making them highly qualified to ensure that bundled products are delivered on time and in perfect condition. Working with a 3PL also saves time and money as they are often punctual and efficient. Additionally, 3PLs can help distribute inventory quickly during bulk orders, meeting the constantly changing needs of customers. Their knowledge of industry standards, regulations, and detailed practices makes them an excellent choice for businesses looking to optimize their product bundling strategy.

In conclusion, product bundling is a powerful marketing tool that can help businesses increase revenue and drive growth. From boosting average order value, to elevating sales volume, to revamping bottom-selling inventory, product bundling offers numerous advantages for ecommerce and retail businesses.

This is a guest post from our partner Badger Fulfillment. Badger Fulfillment is a dedicated B2B and B2C fulfillment center located in Harvard, IL. Their owners and operators have numerous years of experience with order fulfillment and other value-added fulfillment services. Using innovative technology and a skilled labor force to complete day-to-day tasks allows them to work smarter for their clients. They enjoy partnering with businesses of all sizes in an effort to reduce the headaches of warehousing and fulfillment procedures.

Are Facebook and Instagram ads effective in generating ecommerce sales?

Posted on by Kaylyn Perry

Facebook and Instagram eCommerce ads create tremendous opportunity for selling products online. With the ability to target specific consumers based on behavior, eCommerce sellers can effectively market their products. Results though will depend on more than just reaching the right market. You’ll need creative and engaging content and a quality product to keep the word spreading. Business owners must understand Facebook and eCommerce ads should they choose to manage them. For the best results though, it can be a smart investment to hire a trusted professional. As a business owner you should keep your time open for operations that can only be done by you, such as obtaining financing to stock products. As you enter the Facebook and Instagram space, you should prepare for an increase in sales, which may call for financing. Read on as we explore Facebook and Instagram ad optimization and inventory financing.

How effective are Facebook & Instagram Ads  in generating sales?

Facebook ads ecommerce and Instagram ads ecommerce can help you boost sales. The return you see will vary depending on your ad-creation skills and reach, but over time, you will learn what’s working and what isn’t, and your ads should be more effective. Facebook ads have one of the highest average conversion rates of 9.21%. Instagram is far behind with an average conversion rate of 1.08%.Facebook’s high conversion rate has been attributed to its advanced targeting capabilities.  Keep in mind there are more ways to generate sales through social media aside from paid advertising. Taking advantage of influencers can help spread the word about your product, and may even be more cost effective. 

Can Instagram and Facebook Ads increase your business Commerce Sales?

Yes, Instagram and Facebook can increase your business eCommerce sales. Instagram has over 2 billion active users with 200 million people visiting at least one business daily. Facebook has close to 3 billion active users and has become a favorite with marketers.

However, it’s important to use the right strategies to ensure your business makes a return off the ads you are posting.

Tips to using Facebook & Instagram to generate eCommerce purchases

So what strategies should you be using to ensure your Facebook ads ecommerce and Instagram ads ecommerce help your business grow? Here are a few tips.

#1. Choose the right ad format.

Instagram and Facebook offer a variety of ad formats. Here are some examples:

  • Photo Ads: A simple photo and some text can be an effective way to get your story across.
  • Video Ads: Video is a favorite digital marketing tool as it’s eye catching and offers audio and visual elements to offer demonstrations and product stories. 
  • Stories: Stories will stay up for just 24 hours so people will want to view them while they are visible. This creates a sense of urgency. Typically, users viewing stories are passing time, which means when they aimlessly stumble across something they now think they need, they may even have time to order right away.
  • Messenger Ads: Messenger ads are sent directly to customers, so they are difficult to ignore.
  • Carousel Ads: Carousel ads feature images that can be swiped to the side for an interactive effect. Each image can include a link. The format is ideal for telling a story.
  • Slide Show: Slide shows are similar to video, but they are posted in slides that move from one to the next. They can include sound and text. They are effective in sending a brand message and offer an easy, lightweight aesthetic.
  • Collection: This format shows a collection of ads. Users can tap on one to learn about a specific product.

The type of ad you choose will depend on what’s best suited for your company and the product and service you are offering. You may want to try various ads to find out which is the most effective.

#2. Ensure you have strong calls to action.

A call to action tells the consumer the purpose of your ad and what you want them to do after reading your ad. For example, you may want them to buy your product, check out your website, subscribe to your newsletter, etc. The message should be clearly stated in the CTA.

The CTA is typically included at the end of the ad text although it may appear in other areas of the ad. For best results, highlight your CTA as a brightly colored button that includes a link that takes the consumer where you want them to go.

#3. Utilize user generated content (if available).

Reviews and testimonials are common examples of user generated content. It’s an effective marketing tool as it helps consumers build trust in your brand. When consumers see that past customers had a good experience with your brand, they will be more likely to convert.

There are several ways to integrate user generated content in your Facebook and Instagram ads. For instance, you can simply include the text of a testimonial. Or you could post a video of someone praising your company.

You can also take a more interactive approach by having users post pictures of themselves using your product. You will get more people involved if you use a contest format and offer a prize for their content.

#4. Split test your ad groups and campaigns.

Split testing involves trying different ads to see which is more effective. You can alter the content of your ads to determine which strategies are working and which are not. You can play around with text, images, and ad formats to see which are getting the most interactions and bringing in the most conversions.

#5. Invest in Analytics tools to measure results.

Analytics tools will tell you how many people viewed your ads, how many clicked through, and how many converted. They will even further break it down so you can determine what demographic groups are responding to your ad.

Facebook and Instagram offer analytic tools through their business suite. And if you want to get more specifics, you may want to try their Creator Studio option.

There are also several third-party analytic tools that can be used with Facebook and Instagram such as SocialInsider, AgoraPulse, Buffer and more. Shop around to see which is best suited to your needs.

#6. Ensure you are promoting products where you have enough inventory in stock.

If you’re promoting products, you must ensure you have enough inventory to meet the demand. If a consumer orders a product you are advertising only to find out it is out of stock, it will make you look bad. They may go to another company for that item never to return.

Count your inventory before promoting a product so you are confident you will be able to fulfill orders. If you are fighting cash flow challenges and it’s impacting your ability to stock enough inventory it may be time to consider inventory funding. By obtaining funding for inventory you can free more cash flow to invest in growth areas such as marketing while making sure you never miss a sale. For affordable and fast inventory funding, count on Kickfurther.

#7. Utilize influencers.

Influencers are very powerful when it comes to boosting sales. Not every company will be able to pay a big-name celebrity to post about their products, but there are plenty of micro-influencers on social media with large followings who will be happy to promote your products in return for free samples, discounts, and payments.

Are Facebook Ads &  Instagram Ads worth it?

Facebook ads and Instagram ads are worth it as they are proven to produce a high ROI. To make your efforts and investment worthwhile, be sure to create unique content and connect with users. Develop an effective strategy and stay in front of consumers on a regular basis. Connect with them through messages and values. Keep in mind that staying in front of consumers does not always mean selling them something, it could simply be connecting with them which could convert into future sale(s). 

 That being said, no business can really afford not to be on these social media channels. And with so many options to advertise for free, you are bound to make some headway.

Closing thoughts

Social media platforms such as Facebook and Instagram create tremendous opportunity for eCommerce sellers. While the strategy behind a successful marketing plan via Facebook and Instagram will be significantly different from traditional avenues, they can produce a healthy ROI. Be creative. Differentiate your brand. Try new things. Consumers want to connect with brands and people, hence why they are on social media. If you can gain a following and interest and you have a quality product, it’s only a matter of time before sales follow. 

As you anticipate an increase in sales, you may want to start considering how to fund more inventory. As an eCommerce seller you may know there are difficulties with finding inventory funding. Founder of Kickfurther, Sean De Clercq, battled these challenges in search of funding for one of his startups. As a true entrepreneur, he put his frustrations to good use and created Kicfurther. 

Kickfurther is the world’s first online inventory funding platform that enables small businesses to access funds that they are unable to acquire through traditional sources. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. 

Kickfurther can help startups and small businesses fund millions of dollars of inventory at costs up to 30% lower cost than the competition. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. 

Interested in getting funded at Kickfurther? Here are 3 easy steps to get started:

#1. Create a free business account

#2. Complete the online application 

#3. Review a potential deal with one of our account reps & get funded in minutes

Learn more about eCommerce Inventory Financing from Kickfurther.