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Sourcing and purchasing assets online for your business can help you to:

You should stay informed about the different options and risks for buying your stock online to make the best choices for your business.

By researching online, you can source assets and materials that may be difficult to find through your existing local, interstate and overseas suppliers.

Finding suppliers online can be convenient and efficient. You can search for suppliers and review their products online at any time. There is no need to wait for their opening hours or book an appointment—this also makes it easier to work with suppliers who are not local or in the same time zone.

If you are unfamiliar with buying products online, you can start by discussing your options with your current suppliers, colleagues and business and industry associations.

Each supplier will have their own process for purchasing products from them that they should guide you through.

Before you begin buying online, it's a good idea to set up your own purchase process. A simple checklist can be helpful to make sure you and your staff manage online purchases in the same way.

To find suppliers for your business, you can search:

In most cases, businesses will purchase their stock wholesale to offer competitive rates to their customers, but there are some instances where retail is a more suitable option.

Many online retail businesses may also have wholesale options.

Once you have found a supplier that could meet your needs, you should do further research about them to ensure they are suitable for your business.

You will need to decide the channel or platform you will use to purchase your stock. Options include purchasing directly from the wholesaler, through online retail marketplaces and drop shipping.

You can make direct purchases from a series of wholesalers to stock your business.

Online marketplaces allow you to purchase from many different suppliers through 1 website. There are also online marketplaces for specialist or niche industries.

If you use drop shipping, your supplier fulfils the order from your customer and sends the product directly to your customer.

You should know the risks that apply to purchasing your stock online so you can put steps in place for protection.

Researching potential suppliers can prevent scams and loss of money or time and should be done whenever you are considering adding a new supplier as a part of your business strategy.

When deciding on using a supplier, it is vital to understand the terms and conditions that apply to your purchase.

When buying suppliers, it's important to confirm the total price and all related costs to make informed decisions and plan your purchases effectively.

You can confirm the total price by:

When buying your stock online you need to understand the delivery process and all related details so that you know how you will be getting your items.

Consider the following information when making payments for stock ordered online.

Read more about cybersecurity for your business.

Take care when buying products from overseas. Australian trade laws cannot protect you when purchasing from overseas suppliers. You should do your research to confirm that you are dealing with a reputable business.

When buying stock from overseas suppliers, consider:

If you deal with large volumes of goods or multiple suppliers, you might consider investing in supply chain software to help you streamline your online purchasing.

Read more about protecting your business online.

Along with purchasing stock online, you can conveniently purchase various goods and services for your business, like raw materials, office supplies or equipment.

Buying online gives you access to a broader range of products and services so you can find the best fit for your business needs. You can also save money by finding lower prices for similar products.

You can search and buy goods and services online using:

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