What if you have been doing business for a few years, but still you could not have a glimpse of that pot of gold at the end of the rainbow? How could this be possible if you're not earning a profit, to begin with? On top of that, how do you expect to have financial gains if you're having trouble picking out which products to offer?
These are some of the concerns of someone who reached out to me to seek help and direction for her Amazon business. She's had a background in traditional retail and has been a seller on Amazon for two years. Today, I'm going to define and explain the difference between retail arbitrage and online arbitrage, share some pieces of advice on how and where to start when it comes to choosing your products and target market, and what you should do if failure is not an option for you.
Amazon is retail upside down.
Today's Topics Cover:
- Differentiating the business models of traditional retail versus Amazon's
- Temptation for people moving from RA to online arbitrage (OA)
- Why it's important to look for products where the supply is not meeting the demand
- Things to take note of when looking for wholesale items
- Why you should start with an area you're passionate about when doing wholesale
- The biggest pitfall when buying high volume items
- How to proceed after looking into your inventory and knowing which items are profitable
- What happens during the disqualification process and why it is a must-do for Amazon sellers
- Reason hy people are having a hard time from moving from RA to wholesale
- How to find out if Amazon is indexing you for your keywords
- Steps to take for Amazon to take notice of your listings for product bundles
Resources Mentioned:
- Be the next one on the hot seat! Email: excellence@bestfromthenest.com
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