Are you looking to sell Purses and Wallets online? If yes, this is the perfect time to do so. According to a 2022 report, the Purses and Wallets market is worth more than $5 billion, and it’s estimated to grow at a rate of 6% per year between 2019 and 2025.
Selling Purses online is a great idea, but it can also seem difficult without the right guidance. Figuring out the what, why, and how of setting up an online store to sell Purses can consume a lot of time.
Find Your Niche
Purses and bags come in different shapes and sizes. It’s better to pick a specific type of purse or handbag to sell, instead of targeting the entire market, which means some solid niche research will come in handy. For example, you can sell:
- Wallets and Cardholders: Target audience – individuals looking for compact and functional accessories to organize their cards and cash.
- Clutches and Evening Bags: Target audience – women attending formal events or seeking elegant accessories for special occasions.
- Crossbody Bags: Target audience – individuals who prefer hands-free convenience and practicality while on the go.
- Tote Bags: Target audience – shoppers in need of spacious and versatile bags for everyday use, work, or travel.
- Backpacks: Target audience – students, commuters, or travelers seeking comfortable and functional bags with ample storage.
- Luxury Designer Bags: Target audience – fashion-conscious individuals willing to invest in high-end, branded purses for prestige and style.
- Vintage or Retro-style Bags: Target audience – fashion enthusiasts who appreciate classic and nostalgic designs.
- Eco-friendly or Sustainable Bags: Target audience – environmentally conscious consumers who prioritize eco-friendly materials and ethical production practices.
- Customizable or Personalized Bags: Target audience – individuals seeking unique and personalized accessories, such as monogrammed or customized designs.
- Travel Bags and Luggage: Target audience – frequent travelers in need of durable, organized, and stylish bags for their journeys.
Here are some research techniques and tools that can assist you in identifying the type of purses your new business should focus on selling:
- Marketplace Analysis: Check out the biggest online marketplace websites such as Amazon, eBay, and Alibaba to see what’s trending.
- Keyword Research: Tools such as UberSuggest and KeywordTool can help you get a sense of search queries people use when looking for purses online.
- Google Trends: Use Google Trends to analyze patterns with regard to the demand for different types of purses and bags.
- Customer surveys and feedback: Gather insights directly from potential customers through surveys, interviews, or feedback forms. This can help you understand their preferences, needs, and desired features in purses.
- Social media listening: Monitor conversations and discussions related to purses on social media platforms. This can provide valuable insights into popular styles, brands, and customer sentiments.
- Trend forecasting: Stay updated on fashion trends and forecasts to identify upcoming styles, colors, patterns, and materials that are in demand. This can involve following fashion magazines, attending trade shows, and exploring fashion-forward websites.
- Competitor analysis: Study your competitors’ offerings, pricing strategies, target audience, and unique selling points. This can help you identify gaps in the market or areas where you can differentiate your business.
- Supplier research: Research reputable purse suppliers and manufacturers to understand the range of products they offer, quality standards, and pricing. This can help you assess the feasibility and profitability of different purse options.
Source Your Purses
Okay, now that you have conducted some research and have a clear idea of the type of purses or bags you want to sell, it’s time to consider how to stock up your inventory. Here are some steps to help you in this process:
- Identify suppliers: Research and identify potential suppliers who offer the type of purses or bags you are looking for. Look for reputable suppliers with a track record of delivering high-quality products.
- Contact suppliers: Reach out to the selected suppliers and inquire about their product range, pricing, minimum order quantities, and any other relevant details. Ask for samples if possible to assess the quality firsthand.
- Evaluate pricing and terms: Compare pricing and terms offered by different suppliers. Consider factors such as the cost per unit, shipping fees, discounts for bulk orders, and payment terms. Ensure that the pricing is competitive and aligns with your budget and target profit margins.
- Assess quality and craftsmanship: Examine the samples received from suppliers to ensure they meet your quality standards. Pay attention to details like stitching, materials used, durability, and overall craftsmanship. Choose suppliers that offer products that align with your brand’s quality requirements.
- Place initial orders: Once you have selected your suppliers, negotiate terms and place initial orders based on your estimated demand. Start with a manageable quantity to test the market response and avoid overstocking or tying up excessive capital in inventory.
- Track inventory and sales: Implement an inventory management system to keep track of your stock levels, sales, and customer preferences. This will help you optimize your inventory, identify popular products, and plan for future orders.
- Establish reorder points: Determine reorder points based on sales velocity, lead times, and customer demand. This will ensure that you can restock your inventory in a timely manner and avoid stockouts.
- Consider dropshipping or consignment: If managing inventory and storage is a concern, you can explore options like dropshipping or consignment. With dropshipping, the supplier directly ships the products to your customers, eliminating the need for inventory management. Consignment allows you to display and sell products without purchasing them upfront, paying the supplier only for sold items.
Remember to maintain a balance between having enough inventory to meet customer demand and avoiding excess stock that ties up your capital. Regularly reassess your inventory strategy based on sales data and customer feedback to optimize your product offerings and ensure a steady supply of purses or bags for your customers.
Design Your Own
If you have a good eye for design, you might want to consider designing your own purses. Print-on-demand services (such as Printful) allow you to design purses and bags. Moreover, these services also let you white-label purses and bags with your own designs.
Manufacturers/Wholesale Suppliers
Purchasing purses in bulk from a manufacturer or wholesaler is a conventional way to fill up your stock. Directory websites such as Alibaba, ThomasNet, and Kompass can help you find suppliers for the types of purses you want to sell online.
However, establishing your inventory for selling purses requires an upfront investment and finding the right suppliers can be challenging. To ensure a successful partnership, evaluate potential suppliers based on their seller ratings and reviews, request product samples to assess quality, and if possible, schedule in-person meetings to establish a personal connection and gain deeper insights. By considering these steps, you can mitigate risks, choose reliable suppliers, and build a strong inventory for your business.
Dropshippers
With dropshipping, you can focus on selling purses online without purchasing them from a supplier. This is because dropshipping suppliers can ship purses directly to customers when they make a purchase. You can use platforms such as TradeIndia and India Mart to find reliable dropshippers in India.
Working with dropshippers relieves you from holding and managing inventory – although your control over product operations, quality, and shipping will be seriously limited.
Create a Brand
It’s important to take branding seriously right from the beginning, especially for fashion items such as purses and bags. The bigger your brand, the more you’ll be able to charge for your purses. Take advantage of the following tips to get started on the right foot.
- Think of a memorable domain name and design a logo that makes your brand easily recognizable to buyers.
- Pay attention to the color scheme and fonts to be used in all your marketing materials, including your website and social media.
- Your brand’s writing style, tone, and voice should match the personality that you’re trying to create in the minds of your audience.
Decide Where to Sell Purses Online
Another important decision in your journey is which avenue(s) you’ll use to sell Purses online. You can pick from the following options.
Social Platforms
A social media platform is what most people think of first when it comes to selling Purses and handbags, and rightly so! It’s easy to start selling on a platform such as Facebook. However, it may not be so simple – or may be insufficient – once your business grows to a certain level, and you’ll need to consider other channels down the line to expand your customer reach.
Online Marketplace
A more professional way to sell Purses online is to register as a seller on one or more of the internet’s large online marketplaces. These include Amazon, eBay, and Etsy. These marketplaces provide you with straightforward selling tools and a steady stream of customers, but take a cut from your sales to compensate for these benefits.
Your Own Online Store
Building your own online store to sell Purses can be slightly more challenging than the other options we’ve listed above. However, it makes the most sense in the long term. Creating an ecommerce website (with a platform such as Zencommerce India) allows you to build your brand and control the profits, given that you’re willing to put in the work required to build a customer base from scratch.
Showcase Your Purses
After finalizing your online Purses sales platform, the next step is to focus on creating compelling content to showcase your products. This primarily involves preparing captivating photos and engaging descriptions. Let’s delve deeper into this process:
Product Photos
Adding eye-catching photos of your Purses will go a long way in persuading your buyers. Think about it – they can’t touch or feel the fabric of the Purses. The only option they have is to assess them are from the product photos – so it makes sense to make them good!
We strongly advise you to upload multiple high-quality photos when showcasing your Purses on your online listings.
Product Descriptions
Product copywriting combines the elements of art and science. Instead of merely selling a physical object, you are offering an immersive experience. This is why thorough research plays a vital role. It provides insights into your customers’ desires, enabling you to effectively address their needs through compelling product descriptions.
Learn more about selling purses online
How do I sell purses online?
There are multiple avenues for selling purses online, including online marketplaces, social media platforms, and your dedicated online store tailored to travel enthusiasts. With a Zencommerce website, you can seamlessly integrate your purse store with your social media accounts, streamlining the fashion buying process and enabling customers to make purchases directly from their preferred social platforms.
Where can I sell purses online?
There are several effective online selling methods available for your purses, including leveraging an online store such as Zencommerce. In the world of fashion, customers who are attuned to the latest trends often have a strong social presence. With Zencommerce, you can seamlessly link your product catalog to your Facebook, Instagram, and TikTok accounts, enabling potential purse buyers to make direct purchases from your engaging posts.
Can I sell purses on Zencommerce?
Absolutely! Your Zencommerce store provides the perfect platform to sell a wide range of purses, catering to diverse customer preferences. With over 100 payment gateways integrated into Zencommerce, you can effortlessly accept payments from customers worldwide, ensuring a seamless and convenient shopping experience for your international clientele.
How do I price my purses?
The prices of purses can differ based on various factors, including the brand, size, and materials used, whether it’s made of fabric or hardshell. To get an idea of the market value, you can compare your buying price with the prices offered by other sellers online for similar {keyword} products. This can help you determine a competitive and fair price for your purses.