RETAIL ARBITRAGE ON AMAZON retail store
RETAIL ARBITRAGE ON AMAZON retail store
Retail arbitrage is used to refer to purchase of products at a discount from a retail store, wholesaler or a boutique and then reselling them at a profit. It is a form of business done by many people all over the world aiming to earn some extra cash. This is because it involves little capital and minimal risk as compared to other forms of businesses. There are various retail stores where one can source for the retail goods. Some of the examples include Marshalls, TJ Maxx, Gamespot, Craiglist, Outlet Stores and local Boutique shops. However one of the best retail arbitrage is through Amazon. Amazon is the largest online retailer in the world. Shoppers from all over the world flock Amazon looking for all types of products. This means there is a big opportunity of e-commerce for anyone interested. Amazon has an FBA program which can help ordinary people to sell their stuff online.
To start retail arbitrage with amazon you first need to open Amazon seller account. There are two types of amazon seller account, that is professional or individual . A professional account costs $39.99/month with a full month free trial. When it comes to individual account there are no monthly subscription. You are only charged $o.99 for every item that sells. Each account has its advantages and disadvantages. if someone is planning on selling less than forty items it is advantageous to use individual account. However if you plan on selling more than forty items the most appropriate account is professional account since you will be making a saving in every item you sell after the fortieth one.
In this business one needs a bit of help in figuring out what to resell and what not to. The best helper is Amazon seller App. You will need to download the app into your smart phone. This app scans your products and indicates which are the best to sell otherwise you will end up incurring huge losses by selling wrong products.
Once you have downloaded seller App the next step is to scan the products to see which ones are more profitable and will sell within shortest time possible. This can sometimes presents a challenge. There are various categories of product and one should select the one you are interested in. It is best for beginner to choose categories they are familiar with. It is also important to note that some categories are restricted and need approval for someone to trade in them. Example of this categories include collectible books, automotive & powersport, beauty, fine arts gift cards, independent design, healthcare and many more. Beginners should avoid this categories until they gain experience to expand to the categories.
After selecting the category you would love to trade in, make a list of stores in your area that sell those items. After this, conduct scouting. This is where you visit the retail stores and scan the bar codes of the products using your Amazon seller App. This is the most time consuming task. You only need to resell product which will sell three time the amount you paid for .Scanning the products will tell you which one meets these conditions.
After going to store and identifying products to sell profitably, list the products. For beginners it involves logging into your account , go to inventory and then add product. Your listing need not only to be competitively priced but also complete and optimized. The good thing with Amazon is that it lets you know in case one of your listing is lacking by sending an alert requiring appropriate adjustment. Each of the products you have entered will receive a label which should be printed out
After that Amazon will tell you where to sent the products. Once the products get there they will be added to your inventory. You can easily monitor the sale of your products through your account. You will be able to see sales and fees charged, any amount deposited to your account and what is owed to you.
Amazon arbitrage is good business for a side income. Anyone interested can easily get into this business and there are many online tutorials on the same