How to Make Money On Amazon Using Retail Arbitrage
Jessica and Cliff put a lot of time into growing their business, but these days they are only putting in 10-20 hours a work of the week.
Not too shabby.
So, how can you work less and make money on Amazon? It’s pretty simple. Like anything else, you will get better with experience, but anyone can start right now.
Here is a quick break down of the steps:
Step One: Finding the Product
You might want to check out The Selling Family Amazon Bootcamp Training Course before heading but if you think you are ready then download the Amazon Sellers app and get your shopping shoes on!
Start by going to stores in your area, like Target or Walmart, and look for clearance and discounted items. Scan them to see if they are selling for more on Amazon.
It’s hit or miss but if you do find something good, travel to multiple store locations to pick up as many of the item as they can. Jessica and Cliff once sold 20k worth of Crystal Light Packets after cleaning out all of the Walmart Stores in their area.
Step Two: Tell Amazon What Your Selling
Once you get your items home, it’s time to let Amazon know what you would be selling, how many you have of each item, and what you want to sell it for. Once they approve your items, they will create personalized labels so your items can be easily identified in the warehouse. You can print these labels at home or use Amazons label service.
Step Three: Label Your Items
Now is the fun part. You get to stick small labels to every one item before boxing and to ship them to the fulfillment centers. You have to be sure each item gets the right label and goes to the correct warehouse so you must stay organized. These labels are not UPCs; they are the barcodes that Amazon will scan when they receive your shipment, so they will know who it belongs to.
Step Four: Ship Your Items
Amazon will let you know how many of each item should be shipped to each warehouse. After packing everything up into the appropriate boxes, call UPS let them know how much you have to send and set up a pick time. Once everything has arrived at the fulfillment center, Amazon will scan in all the products, and they will begin selling.
Step Five: Sell and Watch Prices
Along with availability and reviews, pricing is also essential to keep your items visible to buyers. Just lowering your price a few cents cheaper than others can bump you into the coveted buy box.
Jessica prefers to manually update her prices as she sees fit, but there are a few repricing software programs out there that can monitor the prices of specific items. This software works to make sure your prices stay competitive, so you don’t have to.
Selling on Amazon has recently become very popular because of how easy it is to start and benefits of working with one of the top online sites. With the right strategies, there are significant opportunities for anyone to start making some income on the side. Who knows, you could turn it into a full-time business. Check out the Selling Family for detail training and guides to get you started as an Amazon seller. Make sure to subscribe for more latest news.