NOTE: This blog has moved to: http://www.HonestOnlineSelling.com
If you sell items on Amazon, you are likely always asking "what's a good Amazon bestseller rank?" when selecting your inventory.
Despite what other 'experts' tell you, the answer isn't definite. Bestseller ranks vary and change widely, and I have discusssed how snobbish sellers are being too restrictive at their own peril.
Now I've realized that when you find an item to sell on Amazon and it's sold out on Amazon, bestseller rank is almost irrelevant.
Why? When you're replenishing that item that's currently sold out, you're helping meet a customer demand that (typically) far outweighs the current supply on Amazon.
The (typical) result is when you're one of the first (or only) sellers to replenish a sold-out item on Amazon, it gets snapped up right away by an eager buyer.
Examples (with 'Profit Proof'):
> I found this used toy at a thrift store for $3.99, sent it in via Amazon FBA and it sold for ~$19 within a few days. (Sales Rank: 175,000).
> This product (bought for $5.99 at a yard sale) sold for $30 within just a few days. (Sales Rank: 313,00!)
> This toy (bought for $5 at a thrift store) - with a sales rank of 459,000! - sold within a few days for $39.
The common thread for all these items is that before my 'stock' was received at Amazon, they were 'sold out' (Amazon calls it 'Currently Unavailable'.)
Now that I know these items are in short supply on Amazon, I can keep my eyes peeled for them or place a free 'wanted ad' on Craigslist or Freecycle to ask local folks if they have any - used or new - that they'd like to sell (you'd be surprised at how many people respond to such ads).
So next time you're out scouting and you scan an item with a 'poor' bestseller rank, check the # of sellers. You can likely flip the item for a good profit very quickly, especially if you're the only seller of it.
FREE: I go more in-depth with similar Amazon selling strategies with my e-book bundle.
Also FREE: If you haven't sold on Amazon yet, learn how, step-by-step, with this guide.
Do you have an example of a quick-selling product that was previously 'sold out' on Amazon?
Happy selling,
-Jordan
No comments:
Post a Comment