It sounds like it has been quite good. How many of the books don't sell? Also, do you wait till someone orders then ship it out or do you send them to amazon to ship out?
They're all going to move at different rates. My strategy is have as many as possible in stock. I buy, box, and ship to Amazon. They store them and ship when orders come in. I use an automatic reprice to move them faster
Sure, you have a dashboard to manage your inventory levels. I've been shipping a shit ton of product and haven't gotten anywhere close to limits. They also will spread your inventory across multiple warehouses
It's all subjective. Retail products move way faster. Books will sit longer, unless you find ones that have faster sell rates. All of this data, you can get from something like Keepa. It will tell you the sales raes and such for items
May was our second full month of retail arbitrage selling on Amazon. We decided to go heavy into the used book category at the beginning of the month, not knowing anything about it.
Since starting, I've fine tuned my ScoutIQ triggers and have been getting better and better hits. My strategy is simple. Scan every book in thrift stores, starting with kids books. Why kids books? Simple. They're extremely cheap.
Not only are kids books extremely cheap, but they can be extremely profitable. I threaded the other day, I found one book for 33 cents and it sold for $30 a week later. In fees, I probably paid about $2. Huge profit margin.
Kids religion books seem to be got right now. I've sold a few over the past 4 days for over 20x what I paid. There's a buyer for everything. You just have to be willing to go out and find it.
We finished may just over $850 in sales. My goal is to find and list 50 profitable books every single week. It's a lot of work, but it will pay off.. Get out there and find the money.
Yeah, I find it really fun. ScoutIQ is $14/month. Bluetooth scanner roughly $40. Then you just need an Amazon seller acct. I pay for the $40/month one because I do this pretty hardcore but you can start for free I believe
It sounds like it has been quite good. How many of the books don't sell? Also, do you wait till someone orders then ship it out or do you send them to amazon to ship out?
They're all going to move at different rates. My strategy is have as many as possible in stock. I buy, box, and ship to Amazon. They store them and ship when orders come in. I use an automatic reprice to move them faster
Ah ok. Doesn't that cause issues down the road if the supply is too large? Sounds like a price war could be possible.
Sure, you have a dashboard to manage your inventory levels. I've been shipping a shit ton of product and haven't gotten anywhere close to limits. They also will spread your inventory across multiple warehouses
How much of your inventory do you sell and how fast do they sell on average?
It's all subjective. Retail products move way faster. Books will sit longer, unless you find ones that have faster sell rates. All of this data, you can get from something like Keepa. It will tell you the sales raes and such for items
May was our second full month of retail arbitrage selling on Amazon. We decided to go heavy into the used book category at the beginning of the month, not knowing anything about it.
2/
Since starting, I've fine tuned my ScoutIQ triggers and have been getting better and better hits. My strategy is simple. Scan every book in thrift stores, starting with kids books. Why kids books? Simple. They're extremely cheap.
3/
Not only are kids books extremely cheap, but they can be extremely profitable. I threaded the other day, I found one book for 33 cents and it sold for $30 a week later. In fees, I probably paid about $2. Huge profit margin.
4/
Kids religion books seem to be got right now. I've sold a few over the past 4 days for over 20x what I paid. There's a buyer for everything. You just have to be willing to go out and find it.
5/
We finished may just over $850 in sales. My goal is to find and list 50 profitable books every single week. It's a lot of work, but it will pay off.. Get out there and find the money.
6/
Would you recommend me trying this out?
Do I just need a subscription to ScoutIQ and the bluetooth scanner?
Then hit thrift shops, garage sales and book sales?
Yeah, I find it really fun. ScoutIQ is $14/month. Bluetooth scanner roughly $40. Then you just need an Amazon seller acct. I pay for the $40/month one because I do this pretty hardcore but you can start for free I believe
You really have to commit though. Books all move at different rates. I recommend FBA
I am guessing you live in a built-up area with access to lots of thrift shops/yardsales etc?
Over there religion seems a big deal, so that is a great idea tapping into that kids market!
I love close to a major city in the US so yeah, definitely taking advantage
I guess you have a „normal“ day job?! 👀 Do you think the book business can make you a living sooner or later?
i do have a normie job. yes, the goal is to do amazon full time.
👍🏽 try to read a book from time to time 😉🤙🏽