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Cortesía Mercado Libre
The fundamental principle to grow your store is to offer products that are not simultaneously found in Mercado Libre and that also allow you to earn a high margin with each sale (from 50%).
There are two proven ways to achieve this: import and sell Chinese products or represent manufacturers from your own country by selling their products on Mercado Libre.
The first format is the launch of stores with Chinese products. The procedure is to search for missing products and then optimize your margin. Make a search by browsing AliExpress or TaoBao, choosing those products that you like and then verify in each case that they are missing in Mercado Libre. For example, if you found a cell phone case that you like and it is not in Mercado Libre then this could be a sales opportunity.
You should set a similar price compared to existing sellers and calculate your margin on that target price including the cost of importation, nationalization and Mercado Libre commission. When it comes to Chinese products, you can aspire to have margins higher than 50%. If the product is missing in Mercado Libre and the profitability calculation is affirmative, then your next step is to import 3, 5 or 10 units and publish them in Mercado Libre.
Here is the key to the question: once the products are published, select those that are selling well and buy more inventory. If you find winning products, the next step is to search for those same products from a Chinese wholesaler like Alibaba.com and buy from wholesale suppliers at a better price. If you focus on the products that sell well with each experiment, you will grow your store month by month.
The second format is the representation of local manufacturers in Mercado Libre. You can search for manufacturers in your city by searching any online directory of local manufacturers. Review their pages, request their catalogs and if you consider that their products are an opportunity, call and request a meeting to meet them, see their products and propose to resell it in Mercado Libre.
Many manufacturers already have their inventory published on Mercado Libre. The key is to find traditional manufacturers, who are not yet selling on the platform and launch their products from it. The resale of products from manufacturers generates opportunities to sell missing products with a 50% margin or more.
If you repeat these processes, you will grow your store month by month. Remember, whether you are a local manufacturer or Chinese wholesaler, it is important that you spend time building trusting relationships with them and enjoying the interactions. I also advise you to talk with your customers to identify other products that they have looked for and have not found and get them to offer them from your store.
Buying inventories without validation, through debt, can slow your growth for months. Always remember to focus on purchasing inventory of products that you have validated through experimentation in smaller quantity sales and try to minimize or eliminate the purchase of inventory through debt.
Choose products that you like, following the procedure we describe and enjoy growing your e-commerce business month by month.
I wish you the best of success.
