Tips for Sourcing Online and Reselling on Amazon
Posted: August 14th, 2020
Figuring out how, where and when to source your products online is a vital step that contributes immensely to the success of your Amazon reselling business. Over the years we’ve tried various sourcing strategies and have been successful enough to become a team of happy hustlers earning a 6-figure income due to our sourcing and online arbitrage skills. The best part is that we want to share our knowledge and tips with you, so you can have a thriving Amazon selling business as well!
Whether you are just starting our Amazon business journey or are just fine tuning your online arbitraging skills, you’re in the right place. In addition to our Amazon Course and Guides, we offer Amazon Online Arbitrage Lead Lists which will deliver a daily stream of 20 products that can be resold on for at least 30% ROI (return on investment).
What is Online Arbitrage and How Can It Benefit Me
Online arbitrage is a lot like retail arbitrage, except you source products through the website of the retailers of course. Retail arbitrage, and going to a never-ending list brick and mortar stores, can be quite time consuming and requires a lot physical work, online arbitrage allows you to source products directly from your home or where ever you wish. Buying items at lower prices and reselling for a higher price somewhere else, like on Amazon. Online arbitrage works really well with an Amazon FBA business. When customers are shopping on Amazon, they are looking for convenience, ease of purchase, and a brand they can trust. Amazon offers that while handling all of the shipping, packing, returns, customer service etc. Once you figure out which products to source, you can streamline your process, and enjoy your virtually seamless business!
How to Find Products
In addition to our Amazon Online Arbitrage Leads Lists, its great to know how to find products manually, you can eventually get to a point where you spend a significantly lower amount of time sourcing products. However, understanding how it works, provides a solid informational foundation.
1. Research on Amazon - Manually researching popular products/items on Amazon is a good starting point, you do this by checking out the ‘best selling products’ for whichever categories and sub-categories you are selling items in, and if possible – narrow it down to a niche product. When you are on the product page for specific items, take a look at the ‘customers also bought’ section, this can give ideas for similar products. Upon having a list of items, you can actually check to see if those products have any search volume. This is accomplished using Googles keyword planner tool.
2. Look for Gaps in the Market - Try to find products that fit niche markets or more specific searches, gaps actually happens more than you would think, even on Amazon. Once you know what to look for, it will become easier and easier to spot gaps in the market. Another great way to find gaps in the market is by checking out customer reviews, unsatisfied customers can give tips as to what they are looking for. You can then step in with a more desirable product, and provide customers with what they want.
3. Products that fall under BSR (Best Sellers Rank) - Amazon has an amazing feature, Best Sellers Rank, which can show you not only recent but also historical sales of a specific item. BSR is an indicator that the product is in-demand.
When sourcing products you’ll have to ask your self some important questions:
- Am I allowed (unrestricted) to sell this brand/product category on Amazon?
- Is this a good product that will sell on Amazon?
- Is the ROI worth it? Will I make a profit?
If there isn’t much of a profit to be made, you will most likely want to move on to the next product. When you have an Amazon reselling business, it will benefit you to have flexibility in the items and categories you are willing to sell in.
These are some of the basics of Online Arbitrage, our course and guides have more depth information to assist you in furthering your knowledge of successful online arbitrage, product sourcing and much more! We’re so excited to assist you in starting or furthering the success of your Amazon reselling business! This is what we do every day, and we’d love for you to become a Happy Hustler as well! Contact us today.