Remember ASD and all the “move along” comments elicited from the toy sellers when we mentioned that we sell on Amazon? I’d imagine a few years ago things were not that way. Wonder how that kind of thing starts? Something like this… “Then, during a lawn and garden show last year, my uncle was told by a fellow nursery-owner—who has sold on Amazon for years—that we needed to give selling on Amazon a try. Then he actually proceeded to buy the rest of my uncle’s booth at the show to sell on Amazon himself! So we decided to give it a go.” [Source] I don’t think these folks will be selling their booth to any savvy Amazon seller this year. [#TIP Don’t tell your supplier to sell on Amazon.] As word gets out (I’d imagine it trickles slower to niche categories like lawn and garden, perhaps because the sellers in these categories are more experienced business people than, say, off the retail shelf toy flippers) opportunities dry up. The long term effect of this is a formerly viable source wilting and fading for Amazon sellers. What can you do to combat this?
I don’t worry about much these days. I rotate my stock monthly and hardly ever go deep on anything unless there is some huge attached incentive. I don’t rely on trade shows to run my business. I don’t lean hard on wholesale and I don’t go to stores much. I try not to “online arbitrage” it up too much, but if it’s anywhere that’s where I’m a little bit exposed. To win at this game you must be a moving target. So the best advice you could get is what we heard from the pros at ASD.
Go in light. Sell what sells. Go back for more. If this isn’t possible, move along. Keep your money fluid, keep your products fresh. Every day someone new discovers Amazon, both on the seller and customer side.
Good sources? Good products? Must be limited resources by definition. If you cannot apply some constraint to what you carry, and restraint to what you buy, you’re half-assing your happy self to the bank. Continue this way and you’ll wake up on the wrong side of a basket of bad eggs.
I can’t find all the fresh products on my own. I cannot know about every hot new toy the day it hits stores without a little help. Ideas are only worth so much but evidence of viability is gold. For these things, I rely heavily on my network of friends in Amazing Flips & Tips. Every day is a new real time reseller market report. Good products go bad all the time and new ones take their places. Thanks to AFT, I always know when to continue the harvest and when it’s better to move along.