When purchasing a product, both price and quality should be evaluated together. Choosing only a low-priced or high-quality product alone does not always provide the highest profit.
Quality products have the advantage of selling faster in stores. However, if the purchase price is too high, this advantage can reduce the net profit you will gain.
For example, let's say a product's shop selling price is $8.54.
Quality 50 product if you buy it at $5", the product can sell faster. However, since your purchase cost is high, the profit you will gain may be limited.
Quality 30 if you buy the same product at $2", although the sales speed is slightly lower, your net profit may be higher because you bought it at a much lower cost.
Therefore, focusing only on quality is not the right strategy.
When purchasing a product, the following two criteria should be evaluated together:
The product's purchase price,
The product's quality level.
Quality increases sales speed; while a reasonable purchase price increases profitability. For successful trading, you need to strike the right balance between these two factors.
Important: The best product is not always the highest quality product. By evaluating sales speed and purchase cost together, preferring products that will provide the highest net profit will contribute more to your company's growth in the long run.
