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Listen "Retail Arbitrage Basics, Buying in stores to sell on Amazon, Amazon Selling 101, Sell on Amazon"
Episode Synopsis
Retail Arbitrage Basics, Buying in stores to sell on Amazon, Amazon Selling 101, Sell on Amazon
Retail Arbitrage is a great way to expand your Amazon FBA / eBay / Mercari / Shopify / Facebook marketplace business by procuring inventory and grow your replenishable items at stores near you. Retail Arbitrage is a great way for new sellers to get started since you can source for inventory for the various platforms immediately.
Retail Arbitrage Stores to Explore
Walmart
Target
Kohl’s
Macys
JCPenney
Walgreens
CVS
Rite Aid
Dick’s sporting goods
Home Depot
Lowes
•When I am coaching clients the first thing I tell them after setting up their business is to start with their nearest store and scan every aisle.
•The more you scan the more you will learn. THIS IS THE HARD PART!
•The top selling categories from my experience are: Grocery, Toys, Health, Beauty, Books/Media and Clothing- in that order
•SCAN SCAN SCAN
•Basic thresholds to follow when selecting products to sell on Amazon:
ROI 30% or greater
Rank Read Keepa- we will discuss this later
Profit of $5 minimum
You should ALWAYS consult Keepa for buying decisions- these are just basic thresholds. NOTE: Your business model may vary.
•BSR- Best Seller Rank is shown on items in the Amazon Catalog
•Take into consideration if the item has been out of stock, if out of stock the rank will increase. Check Keepa for sales history and rank history
•If you would be the only FBA seller then the rank may improve. Also check Keepa for historical data when there were FBA Sellers on the listing.
•Seasonal items rank will typically tank after all is sold for the season- learn the history of that ASIN by viewing Keepa or making a buy list from the previous seasonal item’s sales.
•Once you are acquainted with your brand list start scanning in stores.
•Navigate to the clearance in your stores.
•Learn the sales cycles of your stores- There are sales cycles for categories within the store like BOGO Vitamins at Walgreens
•Go to your local grocery stores and scan items that are in their sales cycles.
•When you are scanning do not leave out ANY category. Example: You may not eat gluten free but specialty foods have been a big moneymaker on Amazon since people need that diet but do not have access to it locally. Same goes for any diet food or international foods.
•Once you have mastered one store then go to the next closest store near you and do the same. Take note of any clearance days by making relationships with the cashiers and management.
•Always as for discounts when buying in bulk- if I plan to spend over $500 at a local store I will create a relationship with management and ask if I could get 15% off if I buy over $500. It sometimes works!!!
•Be sure to couple savings. Example: 30% off Kohl’s coupon with Kohl’s card, $10 Kohl’s Cash for every $50 spent. TIP: You can put $1 on your Kohl’s card to take advantage of the savings then you can put the remainder balance on a cash back or points back card of your choice.
Retail Arbitrage is a great way to expand your Amazon FBA / eBay / Mercari / Shopify / Facebook marketplace business by procuring inventory and grow your replenishable items at stores near you. Retail Arbitrage is a great way for new sellers to get started since you can source for inventory for the various platforms immediately.
Retail Arbitrage Stores to Explore
Walmart
Target
Kohl’s
Macys
JCPenney
Walgreens
CVS
Rite Aid
Dick’s sporting goods
Home Depot
Lowes
•When I am coaching clients the first thing I tell them after setting up their business is to start with their nearest store and scan every aisle.
•The more you scan the more you will learn. THIS IS THE HARD PART!
•The top selling categories from my experience are: Grocery, Toys, Health, Beauty, Books/Media and Clothing- in that order
•SCAN SCAN SCAN
•Basic thresholds to follow when selecting products to sell on Amazon:
ROI 30% or greater
Rank Read Keepa- we will discuss this later
Profit of $5 minimum
You should ALWAYS consult Keepa for buying decisions- these are just basic thresholds. NOTE: Your business model may vary.
•BSR- Best Seller Rank is shown on items in the Amazon Catalog
•Take into consideration if the item has been out of stock, if out of stock the rank will increase. Check Keepa for sales history and rank history
•If you would be the only FBA seller then the rank may improve. Also check Keepa for historical data when there were FBA Sellers on the listing.
•Seasonal items rank will typically tank after all is sold for the season- learn the history of that ASIN by viewing Keepa or making a buy list from the previous seasonal item’s sales.
•Once you are acquainted with your brand list start scanning in stores.
•Navigate to the clearance in your stores.
•Learn the sales cycles of your stores- There are sales cycles for categories within the store like BOGO Vitamins at Walgreens
•Go to your local grocery stores and scan items that are in their sales cycles.
•When you are scanning do not leave out ANY category. Example: You may not eat gluten free but specialty foods have been a big moneymaker on Amazon since people need that diet but do not have access to it locally. Same goes for any diet food or international foods.
•Once you have mastered one store then go to the next closest store near you and do the same. Take note of any clearance days by making relationships with the cashiers and management.
•Always as for discounts when buying in bulk- if I plan to spend over $500 at a local store I will create a relationship with management and ask if I could get 15% off if I buy over $500. It sometimes works!!!
•Be sure to couple savings. Example: 30% off Kohl’s coupon with Kohl’s card, $10 Kohl’s Cash for every $50 spent. TIP: You can put $1 on your Kohl’s card to take advantage of the savings then you can put the remainder balance on a cash back or points back card of your choice.
In God we trust