What Amazon selling strategy fits you the best?
Retail arbitrage works by buying products from retail stores, thrift stores, and other online marketplaces like eBay. Then we can sell them at a higher price on Amazon.
If you check sales and clearance bins often you can usually find products selling for less than they’re listed on Amazon. Books are a popular item to sell with this strategy. To make the process a little easier you can download the Amazon Seller App. This will allow you to scan products that you find in stores with your mobile device to see if they’ll be profitable to sell.
Retail arbitrage is a great way to start selling on Amazon. Just keep in mind that it can be quite time consuming and isn’t very scalable.
Wholesalers are businesses that buy products from manufacturers in order to resell them to retailers. They offer lower per product pricing than retail stores allowing you to make a profit on each sale. They also generally have lower minimum order amounts than manufacturers.
If you find an existing product you want to sell you can locate a wholesaler that offers the product and purchase it in bulk to resell on Amazon. This is a solid strategy assuming you have enough money to buy wholesale and can find the right product to sell.
However, keep in mind that you’re selling existing products in their original package. This means other sellers will likely be selling the exact same product, which leads to more competition and can result in price wars as you battle with other sellers for the buy box.
Private Label Products
If you’re looking for the strategy that offers the most potential revenue then this is it. A private label product is one that you designed and branded yourself.
The process is actually easier than you think. Once you’ve found a product and niche you think will be profitable, start thinking about ways you can improve on that product. Then go to the Alibaba or Aliexpress sites, find manufacturers and vendors that make those products, and speak to them about your ideas. Most companies will be happy to work with you and create products with your desired alterations. They’ll also let you choose colors, send you samples so you can test the quality, and put your branding or logo on the product.
This strategy can be very successful, but it does require quite a bit of work initially. However, once you manufactured and developed your product you can easily reorder it just like you would from a wholesaler.