Selling products on Amazon can be INCREDIBLY profitable for you, as it is for me (it’s replaced my full-time income!)
But there are pitfalls I’ve encountered – maybe you have, too:
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Too many sellers competing by selling the same products
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Not enough inventory for you to buy locally (maybe you are bumping into a lot of sellers at the same place you buy books to resell, for instance).
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Maybe your profit margins are getting squeezed, and you’re looking for that little ‘extra’ amount of revenue
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Maybe your feedback score took a dive because of a couple nasty customers had it out for you for a simple error you made in your product listing.
So I am going to help you improve your selling and/or profits by giving 4 of my Amazon seller tips. Enjoy!
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Pre-owned toys and games can be a big moneymaker for you on Amazon, and they can be snapped up very cheaply by you in your own neighborhood (try running a craigslist ad or going to yard sales). While hundreds of thousands (if not millions) of people in the U.S. are competing over book inventory in their regions, you can have a leg up on them by buying used toys and games.
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Baby products are also a big seller on Amazon (you can only sell these as ‘new’ on Amazon – not as ‘used’ or ‘collectible’). Check your local chain stores for discounted new-in-package disney-themed cups, pacifiers, etc. You should know what the item sells for on amazon BEFORE you buy it. (Use a PDA Scanner from a company such as Neatoscan.com; or bring your phone with a web browser and look up the item on Amazon by entering the UPC # in the Amazon.com search field in your phone browser).
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Did you get a nasty feedback score from one of your buyers? If you post a response to your Buyer’s Feedback on Amazon, they probably won’t read it (because they won’t be notified of your response). All of you have probably been tempted, as I have, to sling back a curt reply to a seller who leaves nasty feedback. It might feel good to post your reply, but they’re not going to be notified you left a response to them. Plus, think about what other potential buyers are going to do when they see your response (which will be posted for everyone to see).
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If your Amazon inventory is very light to ship AND you ship the item from home (not via FBA) via 1st class U.S. mail, you can receive a nice shipping income ‘bonus’ via Amazon’s shipping reimbursement to you, when the item is sold. For instance, if your item weighs 2 oz (with the envelope/packaging), and you sell it on Amazon.com as a 3rd party merchant, Amazon charges the buyer $3.99 to $4.99 in shipping fees, which Amazon ‘gives’ to you. Your cost to send a 2 oz item anywhere in the U.S., via USPS, is under $2.00. Thus, you can make a $2 to $3 profit on the shipping alone.
For MORE of my Amazon Selling Secrets, be sure to visit my site at FBADeals.com/Secrets.
