How to find replenishable products for Amazon FBA
Posted: December 20th, 2020
How to Find Replenishable Products for Amazon?
Check out the ways you can use to find the replenishable products when growing and scaling your Amazon business. To get your replenishable for even cheaper to increase your ROI and profit, we have the bonus tips for you at the end!
Track all of your items on a spreadsheet
The easiest way you can use to find the replenishable products is done with tracking the items and using the data provided. You can track all of the items you purchase on a spreadsheet with all the information regarding the products on a spreadsheet. If you've ever subscribed to our leads list, or if you've ever bought one of our Fresh Flips, our one-time leads list from us, you get a spreadsheet, and that is exactly how we track things. It has the ASIN, the item, the purchasing link, the Amazon link, the ROI, estimated monthly sales, the sales rank, and the 90-day sales rank, etc. We track every single item that we purchase on a spreadsheet using this information. It is the most accurate way to get the detailed information regarding the items you have purchased, the quantity you have purchased, when you have purchased, and everything in between. The data is extremely useful.
Every Amazon business may have replenishables, and you just don't know about your replenishable products. Furthermore, every Amazon seller mainly focuses on gaining more leads, but you must know that various items can be replenished. You just have to go back and look at the data, you will never know what products are replenishable until you are going back to check those items.
The most appropriate way to know which products are replenishable is just looking at which product has higher sales. If you are like men you check the Amazon seller app at least a hundred times a day, refreshing it, pulling down, checking manage orders, and analyzing if the sales are going up. While doing this, you will also notice the items that are getting sold quickly that could be a potential replenishable. However, there are various replenishables hiding in plain sight, and you have to search for those items to know what is selling, what can be replenishable from that. Another thing is if you are using the Inventory Lab, you can see about the most popular products and the products can be replenishable. You can put every detail on the spreadsheet and go back to those items to see if you should replenish them to know the numbers of sellers, total stock, price of the products, etc.
Check for replenishables frequently
When tracking items, you can go through the account and look at the items you have purchased to see if they are replenishable. You don't have time to do it every week, but you can do this at least once a month or so, you need to go through the purchases to analyze what can be replenishable. Don't limit this to the items you think can be replenishable as every item can be a replenishable. The more unlikely to be seen as a replenishable, the better the potential replenishable item. For example, grocery items are great replenishables, but they can be highly competitive.
Another tip regarding this is that if you are tracking your data, you need to look at the items you bought six months ago because those items may not have been a replenishable at the time but they could be now. For example, it became oversaturated or the prices have gone down, but now the prices could be where you want them to hold consistent.
Use in-stock alerts
If one of your items is out of stock, you shouldn’t give up on an item because various other people are sourcing for the same item from the same store. They will move on to another item, but you can wait when you want to replenish that item as soon as it is back in stock again. When the item goes out of stock for the item that you are selling, you will notice that competition will go down, but with in-stock alerts, you can restock that item as its price can go up because other sellers have moved on to a new lead.As long as you are keeping up with the in-stock alerts, you can get the notification through your email when the item is back in stock.
You can also think about another strategy: to look for the same item in different stores because sometimes you may face quantity limits. For instance, you can only buy 10 of that product. It makes it extremely difficult for you to keep the products in stock, and if it is something you are replenishing, then the limits on product quantity can make it extremely difficult for you. However, the best strategy you can adopt here is to search that item on Google, and you can get a list of the same products available in different stores.
Look for price and consistency in sales rank
For replenishable products you want to see consistency in the price and sales rank except for seasonal products. For seasonal items you would only expect to see consistency in rank and price during the season when the product is popular.
It is very commonly overlooked, and people mainly move on to the next lead without looking at the stuff they already sourced. However, when you have already completed this task, you can look through those items and replenish them, so you need to go back in time to look back on those items that could have replenished in the past. You can keep everything recorded on a separate spreadsheet, so you can check out the items you can replenish again. Replenishable can scale your business, and you can have those leads so you can look at them to turn them into the replenishable items when possible.
Search the replenishable items directly
You can search the categories where replenishable are common. I like to call them the consumables category that includes the items you consume. The customers also repurchase those items, including grocery products, health, household-related items, or daily necessities. If you are directly searching for the categories, you need to hunt them out, and if you are doing manual sourcing, you can go to target.com, grocery section, and do your manual search. However, you need to look in the categories more specifically as various consumers consume those products. The best categories are for consistent replenishables are grocery and topicals.
BONUS TIPS TO REDUCE COSTS
Look for the item at different stores as if you are sourcing something. This item may be $14.99 at Target; you can search that in Google before you are replenishing it. It may be $11.99 at Target which would save you money and increase your profit. If you have any coupons, discounts, anything at that store or they're running any type of sale, that's a great time to stock up your replenishable items, but look for sales and look for other stores that have that item.
The second bonus tip of reducing the replenishable cost is to look at the source of that item wholesale. Wholesale can be intimidating to various people, but you just need to establish a business. You need to have a business established, and you need to have a resale certificate with your state. The easiest way to find a wholesale supplier for your product is to Google search the brand and the word distributor. Wholesale pricing can drastically reduce the cost and therefore increase your profits.