Dump your product – Gasp!
I’ve done this… just because I have run out of patience for a product (products) to sell. I know we all all supposed to hold true to our pricing strategies but sometimes another seller or even Amazon will get in the way.
I purchased a bunch of little toys – knowing the numbers looked good!
Then… grrrr… I look at the numbers again “After” they have reached Amazon’s warehouse and are now up for sale. The numbers just will NOT add up.
What has happened? Another seller – or even Amazon – has found the same products for really cheap and can sell them (for a profit I assume) for far cheaper than I can. This is not a huge problem if you can wait them out and then sell yours… unless:
They have 300+ in inventory or some ridiculous number.
Most of the time – you Can and Should wait it out… but I haven’t been able to do that on a few things…
And Then Amazon Kicks My Butt
I’ve have a product that is “costume” related – it could be sold as a Christmas gift as well. I’ve been patiently waiting for Amazon to sell out so I would be next in line. They would show 10 in stock – then 6, then 3, then 1 – I’m thinking Woot I’m next!
Nope… it’s Amazon has 10 in stock again. This happened over and over. grrrr… I just marked ’em down to quit playing the game.
The idea that I will have some “funds” now to spend on other things is what makes this all okay in my head. I could be wrong… but that’s my story and I’m stickin’ to it for now.
“The money is made in the sourcing, not the shipping”… Always Be Sourcing!
Wow Debra,
Sorry to learn about the shenanigans going on with Amazon. What’s worse, it sounds like you are giving up a lot of ‘freedom’ to work for Amazon. Just hope it isn’t for chump change so at least it is worth your while!
Hi Stew…
I think you have the wrong impression about selling on Amazon (at least as far as I’m concerned). I have “more” freedom than I ever had! I have someone else doing all the customer service and shipping – Amazon! And not chump change… LOL. I don’t ever work for chump change – EVER. I only dive head long into “proven” business ideas. So far I’m so impressed with how easy it is to get going and grow a real money making business by using the power of Amazon.
Some numbers have not added up to profits for me (meaning I made some real “newbie” mistakes) – but the learning curve is low and I can see almost instantly where I made my mistakes and learn (don’t do that again).
I love all my little businesses online… and have quite a few fingers in a variety of pies. This is the business that will allow my husband to retire from his own “service” business in about one year. (My prediction).
We started this Amazon “thing” in June – and started to ramp up in July and it’s only the first part of October and we are seeing such profit potential (we don’t take profits out yet – we dump them right back into inventory buys) that we have family
members and friends begging us to share our business model.
As far as Amazon and shenanigans… LOL… they are in business to make money as well. It’s sort of like competing with Walmart when you are a mom and pop store. You have to learn how to play with the big boys and win. I’m learning every day how to stop looking at this business model as I would a mom and pop store and start running with the big boys!
Very exciting and mind blowing at the same time. 🙂
I just want to say, I enjoy your Amazon stuff, not just your publid domain material…I just signed up recently myself and have very little listed yet, but expect to grow this as time passes. Currently I sell on eBay, Half.com, and Listia. (As for public domain, I’ve had a vague grasp of the concept since I was a kid, but have only in recent years, thanks to the internet, been able to access the material that gives me the true details as well as potential.)
you are so right. i was buying a line off Amazon and selling on Ebay for a good profit , having worked my way up to Ebays 1st page. Just as i did this Ebay changed the format so it lists like Amazon with items in price order. then all the sellers who previously were at the bottom of the pile were at the top as they just gave the stuff away. i didnt like the best match formula but i had learned how to play it and win. Now its just the cheapest that gets the sale ….i am not selling for a margin of 3 or 4%. back to the drawing board
Sorry to hear that that happened to you, Debra. Sounds a lot like the penny auctions. I gave up on those. Hope you don’t lose too much money because of it.