January can be a discouraging time as an Amazon seller, especially after the crazy sales and profits that happen during the 4th quarter.
Sales are slow in some areas, people are returning items that look like they were chewed on by a dog, and it is easy to let these kind of things get you down.
It is not exactly easy for most of us after such a high, but the bottom line is that there are a lot of GOOD things happening right now that you can focus on. If you spend January wallowing in the fact that you have tons of returns coming in, you will not be ready for upcoming holidays, like Valentine’s day and Easter. I have been preparing for both of those holidays, and am seeing good profits on several Valentine’s day items already.
Get out there and find what is working NOW. Don’t mope over your tanked items; decide if you are going to hold them or if you are going to liquidate and move on.
As I move forward into 2017, I’m concentrating on finding wholesale opportunities. Sure, I am still out there shopping RA/OA to keep cash flow going, but I had an awesome experience with wholesale over Christmas that has me laser focused on wholesale moving forward.
In early Q4, a friend of mine Tyler Nelson messaged me asking if I knew where to find a certain seasonal product that was selling like crazy on Amazon that he was having a hard time locating. He had heard about it on Facebook where a friend tagged him in a post. I did a bit of research and found the product OA direct from the manufacturer at a profitable price in pretty short order. Then I decided to take it one step deeper and reached out to the company about what they needed to open a wholesale account. Less than 48 hours later, I had a wholesale account with them and ordered 20 cases of the product to be split between us.
Fast forward to the end of Q4; between the two of us, we had ordered over a hundred cases and eventually bought the manufacturer OUT of the product. I was selling a product that I purchased wholesale for around $3 a unit for around $15 a pop and I couldn’t keep them in stock. Next year I am planning on buying a couple pallets of this item. The image below shows my total sales and profits for this ONE item.
Now I know that I caught lightning in a bottle with this product. Not many products are going to have this good of a return or a sales velocity, but I am excited about finding other solid items that I can reorder in bulk versus having to run around from store to store only to get a dozen of something.
Moving forward over the next weeks and months, I am going to be posting about my wholesale journey frequently, and I hope that some of you decide to join me in making the leap from RA/OA to purchasing items wholesale in bulk.
Go Ship Some Stuff!