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Online Arbitrage at the Tractor Supply Store
Today we talk about how to online arbitrage. We also browse Tractor Supply to discuss positive and negatives of this Big Box Store.
Join Tracy as she takes us on a shopping trip to Tractor Supply to see if there are any deals. Unfortunately, there wasn’t any merchandise that, when scanned, was able to triple the price in order to make a big enough profit. Remember Tracy’s 3x’s the price rule when considering product to resell on Amazon FBA.
Even toys that were 40% off still did not scan at a high enough price or they were not in the Amazon database, so Tracy passed on them.
Next, we are going to learn about online arbitrage. When we find an item that we want to sell, we have to first do research and see what it is selling for on Amazon. You have to be able to make at least triple your money in order for the numbers to work. So if you find an item for $10, you will have to be able to sell it for $40 in order for it to be something that you will want to purchase. Also, Tracy stresses that you will want to be able to at least make $10 profit per item or it is not worth the effort.
Tracy shows us actual sites that she uses to do online arbitrage. The first one is FatWallet.com. They show various products that you can purchase from various stores and the savings is displayed so you can quickly scan the opportunities available.
The next site is PricePoint.com. This site allows you to shop for items in various categories at discounted prices and they also have a clearance section that offers some great opportunities. You will have to keep an eye on it on a regular basis to watch for the really good deals.
Another site that you can check out is GovDeals.com. It a great site for liquidations and other great deals. Once again, check back to this site on a regular basis because the merchandise changes on a regular basis.
Tracy also shows us TractorSupply.com. You can browse through their sales and while you are doing your online retail arbitrage, you can have another tab open for Amazon Seller’s Central so that as you are finding products at various sites, you can plug in the information into the Amazon’s Sellers Central to check your numbers before you make any purchases.
SlickDeals.com is another site that would have opportunities for you to find merchandise.
Also, when you are selecting products, look for things that are not too heavy since you will have to have the item shipped to you and then you will have to ship the item to Amazon.
Tracy says that pet items sell well, so make sure you keep an eye out for good deals. You also need to make sure that you not only are checking the price on Amazon, but you also can scroll to the bottom of the page and check the sales rank.
Once you find something that you have researched, you can use your Profit Bandit software to see exactly what your profit would be before you make the commitment to purchase it.
Always look at your Amazon sellers competition to see who else is selling the item you are looking at. If Amazon is one of your competition, then be cautious with that purchase.
CamelCamelCamel.com is a great site for you to utilize so that you can research items and see how they are selling. You will be able to track the sales in each quarter as well as help you spot items that are popular at specific times of the year. You can also compare history of various products. This site will help you make more educated decisions before you make any purchase.
When doing online arbitrage you will have to be mindful that there might be some limitations to the quantity that you are allowed to purchase as well as double shipping charges.
Tracy suggests that she doesn’t like to sell clothing or any electronics due to the risk for returns so keep that in mind when you are selecting items to sell.
If you can find a good virtual assistant that can do the online arbitrage for you so that you won’t have to do the research, you can hire a VA to do that for you so you can use your time doing something else for your business.
In closing, try to keep your ranking under 100,000 and Tracy warns us to avoid the “race to the bottom”. Don’t keep trying to lower your price to be the lowest. Just be patient and your item will sell and you will make more money that way.
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