Reselling Apps - All You Need to Know
What is Reselling?
What sounds like a complex term is actually quite simple. A reseller is someone who purchases products in bulk from a wholesaler or retailer and sells them directly to his/her customers after adding a margin to the price. Unlike a retailer, resellers need not own a shop or inventory. They reach out to customers on social media. Reselling as a concept had existed in India for a while. However, the last few years have seen immense growth in social commerce platforms like Meesho. In India, the popularity of reselling apps can be credited to the fact that most do not require you to invest capital to start your business. For instance, with Meesho, you can simply share the catalog or specific products with your prospective customers. The payment will need to be done only after your customer has confirmed an order.
How Reselling Apps Became Successful in India?
This creative business idea clicked really well in the Indian market and apps like Meesho became a household name, especially for the women in India who wanted to become independent. Becoming a reseller meant that they could now work while they stayed at home. Reselling with Meesho is known to have helped even the working women earn much more by running their own business. A lot of housewives have been able to create a name for themselves with reselling. Furthermore, Meesho has also helped a lot of students who were looking to earn an extra side income.
How Much Can You Earn in a Month with Reselling?
Some people have testified to having earned over a lakh every month via reselling on Meesho. The best part is that there are absolutely no losses as reselling does not require any investment. On average, most resellers earn up to Rs.25000 per month.
Just choose a product suitable for your target audience and sell it to your contacts by adding your margin in the price of the product, and voila the margin that you add to the product is yours. The option of Cash on Delivery (COD) and online payment is also available in most of the reselling apps.
Things to Keep in Mind While Working as a Reseller
Some of the more experienced resellers shared advice on how to make the most out of reselling. Here is a summarized version of the same.
As a beginner, you should first resell to your close friends and family members. This will help you understand requirements and try out different strategies without the risk of losing customers.
It’s best to keep the margin low in the initial days. The margin also depends on the product categories. For instance, the margin can be slightly bigger in Kurtis. You can also do some research online on the prices of similar products. Once you have acquired some regular customers, you can consider increasing the margin gradually.
Be active and prompt. This point cannot be stressed enough. Like with any other business, customer satisfaction is of utmost importance for resellers. So make sure that you answer any customer queries as soon as possible.
Do not share too many catalogs and products with your customers. You would have some idea of what certain customers might like. Even if you don’t, you will develop this skill with time.
If you have an in-depth understanding of what products will cater to the needs of your customers, you will be a successful reseller in no time. Reselling can help you gain a better understanding of the business world, especially if you are a beginner.