Buying and selling through the internet has become one of the best opportunities for entrepreneurs to earn from the internet either as a side hustle or as a full-time gig. As more people join the internet via smartphones and the world improves its delivery channels, more people will continue to buy their gadgets and accessories over the internet than in person. This trend creates an opportunity for anyone seeking to make money from ecommerce.
The beginner's guide to buying and selling gadgets online will show you how to buy and sell high-quality used and new electronics at wholesale prices from verified wholesale electronics suppliers. It will also include tips on the best gadgets to sell to make a profit in the electronic retailing industry.
How do I start selling gadgets?
Here is a step-by-step approach to help you start selling gadgets online regardless of whether you have some ecommerce experience or are a total novice.
Select the products you want to sell
ecommerce involves selling goods, so you need to have a product or products you are selling. This step is crucial as it will influence how you implement the other steps in this beginner guide on making money from buying and selling gadgets online.
When you are choosing a product, we recommend that you focus on a particular niche. A niche is a subsection of a larger market. For instance, you can sell smartphones, smart TVs, personal computers or smartwatches in the electronics industry.
You can also narrow down your choices within these options. For instance, some retailers focus on selling only iPhones and iPhone accessories, while others concentrate on android devices.
Your product of interest should based on market demand. For instance, if you are fascinated with iPhones, but the market demand is higher for iPhone pouches, then it is wise to focus on pouches. After all, you are in business to sell products to your customers and not fulfill your personal preferences. (see the section on "which electronics sells the most" for more information)
However, this advice doesn't mean you should focus on things you are not interested in. it only recommends that you consider the market demand for a product before you build your online retailing around it.
Get a supplier
When it comes to electronics, there is little chance that you will be able to produce the gadgets you want to sell on your own. It would be best if you worked with a wholesale electronics supplier for devices such as laptops, smartphones and television sets. A good and reliable wholesale electronics supplier will give you the electronics at wholesale discount prices so you can have a good profit margin on each sale. You can sell these discounted goods to a reseller or directly to consumers.
Trade-in Tech is the top recommended by leading businesses worldwide for getting high-quality new and used electronics at wholesale prices. The platform membership includes large-scale wholesalers and manufacturers of parts and accessories from around the world that are ready to ship to any destination. Create an account on Trade-in Tech, search for your preferred electrics and go through the search results. When you see an offer that interests you, send a message to the seller to negotiate the best price and shipping.
Trade-in Tech comes in the lead because of its solid anti-fraud policy. The in-house monitoring team reviews each member's account before approval to ensure no fraudulent activity. You can always verify the authenticity of an account by sending an email to the support team. Many other platforms exist where you can connect with wholesale suppliers and manufacturers.
For more information, see our guide on how to choose a supplier.
Set up your online presence
In the past, you needed a personal ecommerce website to sell gadgets online. The cost of setting up and maintaining these websites has always been a barrier for many people looking to enter the online retailing market. Today, the barrier no longer exists as there are many great platforms through which you can display your gadgets, accept orders and process payment and delivery.
One such platform is Trade-in Tech. Trade-in Tech offers a free platform for wholesalers and retailers to meet, make purchases and build mutually beneficial business relationships. If you want to sell your gadgets to resellers (also called retailers), then signing up on Trade-in-Tech is smart. Think of it as Facebook for the ecommerce world.
Amazon and eBay are other popular platforms for selling gadgets and electronic products. The drawback to these platforms is that they charge a fee each time you make a sale. Furthermore, they are most suited for selling directly to consumers. If you are targeting consumers, you can use Trade-in-Tech as your supply source and other platforms as your retail stores.
Alternatively, you can set up your online store using ecommerce solutions like Shopify. The downside is that you need to invest money into setting up and maintaining the site. If you need a different option and want to avoid using platforms like eBay and Amazon, you can build a brand presence on social media sites and accept orders via comments and DMs. When you get an order, you can purchase the goods using Trade-in Tech at no extra cost, thanks to its zero trading fee policy.
Set up payments and shipping methods
If you are using Trade-in Tech to sell your gadgets, you can skip the payment past as the platform handles everything for you. Fill in all the relevant information, and Trade-in Tech will deal with the rest. If you are selling via other platforms or on social media, then you need to set up a payment method that caters to the preference of your target customers.
We recommend against using your personal bank accounts to accept payments, especially if you expect to receive a large volume of transactions. Many payment processors allow you to receive payment through many options, such as PayPal, wire transfer, debit and credit cards and even cryptocurrencies. Ensure you understand the terms associated with each payment processor before you make your pick.
Shipping refers to how you will get your electronic gadgets to your customers. The general practice is to offer free shipping to your customers. However, to do this, you need to know your shipping carrier's real-time rates and factor them into the unit cost for your gadgets. Some retailers only offer free shipping for purchases over a specific figure. This way, they don't lose money through shopping.
There are many shipping varieties to choose from. Depending on your location, you can explore options such as UPS, FedEx, USPS, Royal Mail, AUPost, Canada Post and others.
Promote your online business
Now that you have settled on the gadgets you want to sell, the platforms you use, and set up payment methods and shipping, it is time to launch and promote your business. If you are using social media, you must learn how to build and grow a social media audience. This will require you to share interesting and engaging content that entertains and informs your audience while promoting your products.
You can also use social media for marketing your store, even if you use platforms like Amazon to sell your gadgets or your ecommerce website. Other marketing options include setting up email newsletters, paid advertising, and regular promotions and discounts.
Businesses that use Trade-in Tech to sell their gadgets have an advantage here. The platform provides over 75 verified leads monthly to companies so they can grow their business and boost their bottom line. Furthermore, the platform has a messaging feature that members can use to interact with themselves, build business relationships and get the best prices on deals.
We also have a full-length article on how to market your online business.
Where is the best place to sell gadgets?
There are many great places to sell gadgets. However, if your target buyers are retailers and resellers, then you should use Trade-in Tech. The platform offers instant networking with numerous resellers and retailers of electronics worldwide. Many have described the platform as a central "hub" for electronics wholesalers and retailers to meet and do business in a transparent environment.
Other platforms for selling gadgets include:
Amazon
Facebook
Personal ecommerce website
eBay
Instagram
Google Shopping, as well as Google Ads
Etsy
Pinterest
Many sellers achieve outstanding results by combining two or more options listed above. For instance, if you are a retailer, you can use social media platforms like Instagram and online ecommerce platforms like Amazon to reach out to your target audience.
Which electronics sell the most
Many beginners to ecommerce often offer which electronics sell the most. The general answer is to focus on popular phone brands.
There is no direct answer to the thesis question as the demand changes over time. However, here are some gadgets you want to consider stocking due to their high demand and profit-making potential
Computer Accessories
Most people only buy one or two computers at a time, but they can make multiple purchases for computer accessories. Such accessories include laptop skins, chargers, bluetooth keyboards and mice, and laptop stands.
Smartphone accessories and wearable devices
Billions of people use mobile phones worldwide, so there is a big market for smartphone accessories and wearable devices. These include charging cables, earphones, smart watches, wireless and wired headphones and smartphone pouches.
Home Electronics
Home electronics are still in demand, despite the high proliferation of portable computers and smartphones. The options with the highest margin include game consoles, smart TVs and sound devices.
Repair Parts
Repair parts are always in high demand since many users and professionals need them—one lucrative option to consider is screens for smartphones and computers. You can also explore SIM trays, charging ports, and electronics accessories that need replacing from time to time.
Wrapping up
Buying and selling electronics online is simple, but you need to understand each step and pay attention to the details. Using the Trade-in Tech marketplace platform gives you an edge regardless of whether you are a wholesaler or retailer.