ONLINE STORE INVENTORY | How much inventory do I need to launch online boutique | Online store tips

1. Perfecting Inventory Quantities for Your Online Boutique
2. Importance of Buying the Right Amount of Inventory
3. Tips for Shopping Inventory on Alibaba.com
4. Choosing the Right Suppliers on Alibaba.com
5. Filtering Search Results on Alibaba.com
6. Shopping Smart on Alibaba.com
7. Key Considerations Before Placing Stock Orders
8. Understanding Inventory Quantities
9. Pre-Orders and Testing Products
10. Formula for Calculating Inventory Needs
11. FAQ

Perfecting Inventory Quantities for Your Online Boutique

So I actually have two online boutiques, and when I opened my first boutique, I definitely did not get the quantities for my inventory right. I will tell you that much. But the second time, I did get it right. And how I got it right the second time is that I came up with a formula, like a foolproof formula, to making sure that you're ordering the correct amount of inventory for your launch. So I am here to share that formula with you today. You know, I'd like to share with you all the knowledge I've gained over the years, mostly through making mistakes so that you guys don't have to make the same mistakes that I did. So if that's of interest to you, you're in the right place. Carry on watching because I'm gonna get straight to it.

Importance of Buying the Right Amount of Inventory

Okay, so really quickly, if we talk about why this whole process is so important... um, it might -- I mean, everyone's reason why this is so important might vary. I've just realized I don't have my rings on.

Tips for Shopping Inventory on Alibaba.com

So I feel like I couldn't do this video without talking about where to get your inventory from. For me to talk about a subject like this, I feel like I have to talk about Alibaba.com. Alibaba.com is a world-leading trading e-commerce marketplace...

Choosing the Right Suppliers on Alibaba.com

The first thing that I want to tell you about when it comes to shopping on Alibaba.com is that there are two different types of suppliers where I'm going to be selling items on there...

Filtering Search Results on Alibaba.com

My next tip I'm going to give you is to filter your search when you're looking for items on Alibaba...

Shopping Smart on Alibaba.com

In terms of assessed suppliers or suppliers which have a supplier assessment...

Key Considerations Before Placing Stock Orders

I know what it feels like when you're literally about to actually place your first order for stock and you're so excited and you get that little feeling in your tummy and just really happy, and it almost just feels like you're just generally shopping...

Understanding Inventory Quantities

In terms of the actual quantities, I know that's why you're here. In terms of the actual quantities, I recommend starting with five to 15 lines...

Pre-Orders and Testing Products

I also wanted to talk to you a bit about pre-order. Not too much because then it will turn into a whole other video, and I already have a video on it...

Formula for Calculating Inventory Needs

So, let's talk about my formula for figuring out how much inventory I need to buy when I launch a new range or a new boutique, which I seem to do all the time and is centered on my conversion rate...

FAQ

Q: What is the recommended approach for perfecting inventory quantities for an online boutique?
A: The recommended approach involves creating a formula to ensure the correct amount of inventory is ordered for the launch of the boutique.
Q: Why is it important to buy the right amount of inventory?
A: Buying the right amount of inventory is crucial to the success of the boutique as it can prevent overstocking or understocking issues.
Q: Where can one shop for inventory according to the provided information?
A: The information recommends shopping for inventory on Alibaba.com, which is a world-leading trading e-commerce marketplace.
Q: How can one choose the right suppliers on Alibaba.com?
A: The guide on shopping through Alibaba.com advises determining between two different types of suppliers to find the right fit for the boutique.
Q: What tip is provided for filtering search results on Alibaba.com?
A: The tip shared is to filter search results effectively when looking for items on Alibaba.com.
Q: What is discussed about shopping smart on Alibaba.com?
A: The discussion includes using assessed suppliers or those with a supplier assessment when shopping on Alibaba.com.
Q: What are the key considerations before placing stock orders?
A: Key considerations before placing stock orders include factors to contemplate before finalizing the order.
Q: What is the suggested starting point for inventory quantities?
A: It is recommended to start with five to 15 lines of inventory when setting up a boutique.
Q: Is there any information provided on pre-orders and testing products?
A: The content briefly touches on pre-orders and testing products, while emphasizing that it is not the main focus and directing to other resources for further details.
Q: What is the formula discussed for calculating inventory needs?
A: The formula entails determining the amount of inventory needed for a new range or boutique launch based on the conversion rate.