I’m baacck. What, that didn’t make your weekend? I haven’t actually gone anywhere its just that my blogging brain has been on vacation for a little while.
While I’m sitting here surrounded by Winter Storm Thor (I couldn’t make that name up) and its record breaking 0 degree weather in Pittsburgh, I can say that all is not so bleak in our Amazon biz. Many experts say the end of February and early March are some of the slowest times of year for Amazon sales. Its not quite Easter and too far from Christmas so people are just simply not spending a lot of dough online. While I can see the logic, I can also attest that people are buying things but I realize this only with a twist which I’ll go into detail in a bit.
Rabbit Trails: ‘Online Arbitrage’ Book Review
Why have I not been doing a lot of blog posts lately? Two words: Online Arbitrage. Yes, the book by Chris Green of Scanpower is what I’m talking about and his favorite term ‘rabbit trails’ is a reference to his content and techniques that you can find with a simple Google search.
I obtained a copy of this mammoth 440 page book that I’m pretty sure we’ve all at least heard of if you’ve been doing FBA for any length of time. For whatever reason and to my luck there is a serious lack of in-depth reviews on this book so I’ve taken the task of doing this as a side project. I know a lot of people do a double-take when they see the $200+ price tag for the full color version on Amazon which is understandable. I’m already 240 pages into the book and when finished I will be writing a comprehensive review that anyone interested in this area of sourcing will want to read.
Repricer Express Trial (and Error)
For a while now I have considered trying an FBA repricer to help move some inventory that’s been sitting in Amazon’s warehouse but had yet to go in. 2 days ago I decided to try Repricer Express’s 14 day trial and see how things went. I also plan to try AppEagle’s 14 day trial as well once this is up to compare and contrast. Repricer Express is very smart in that they don’t require any credit card information for the trial period and from what I can see they allow full access to all of their repricing tools.
We are in our second full day of Amazon repricing and just to give you an idea we had 1150 items in our inventory when we started. On day 1 alone, we sold over 35 items when our normal rate had been 4-5 items in a given day. As of right now, we’ve sold 19 items today near 11 PM EST. What I’m realizing quickly is that it feels pretty good to get those sales even at the possible cost of a few dollars per item that we may potentially be losing by repricing those items. I definitely lost mental track of the value of those items in our Amazon inventory but once we were able to recoup over $700 from selling those items on day 1 alone I will never lose sight of this again.
With over 1000 items in stock its virtually impossible to stay on top of pricing and we’ve been selling some items from Christmas that frankly I forgot we had in stock! That alone is the reason that I will without question be sticking with a repricer once our trial periods for both platforms are complete. If you are starting to pile up inventory under multiple SKUs I would strongly suggest trying a trial of one of these repricers as well.
Deals Done Right (DDR) Review
I mentioned in one of my more recent blog posts the idea of reinvesting on our Amazon business and that we were thrilled to be part of the paid beta group for Deals Done Right (DDR). After a few weeks of being in this DDR group, I can tell you without hesitation that this concept of paying $$ for personalized deals to be brought to you (for resale purposes) will explode in 2015 and beyond. The scope and quality of the deals the DDR admins are providing us members are above and beyond what I was expecting going in. Its still in beta and there have been some hiccups but I’d say 80% or more of their deals are ones that I have either jumped on or strongly considered.
If you’re smart (and I know you are), look into the DDR via Google/Facebook and plant a seed not only in your own brain but also to the DDR group that you’re interested in their offerings once they eventually open it up to everyone. Its not cheap and I have no skin in the game but I’m just telling you its the real deal.