online arbitrage - Introduction:
Online arbitrage seems like an intimidating process and intimidating word itself, but fear not, sailors on the e-commerce sea. This post will go into detail regarding how to, and what avenues you as a seller have at your disposal to make arbitrage straightforward and easy to handle. If you're not sure what retail arbitrage is, start off by reading this post about retail arbitrage.
1. Using software to make life easier
As a vendor looking to turn a profit, a range of software tools are available which can quickly become your best friend. With everything from product “scouts” like Scoutrabbit to process sales ranks, to Amazon seller apps so you can manage your items on the go with Android or Apple smartphones! Perhaps one of the most useful apps is an auto repricing tool called Sellery, that within pre-set parameters will automatically update prices to stay ahead of the competition.
Suitable software to manage your item inventory is also a must-have to master online arbitrage, with inventory management software such as StitchLabs or a multi-channel e-commerce software such as SellerActive. These software solutions not only allow you to manage your inventory as a whole, but also offer automation on item listings, meaning with pre-designated times slots your items will go up exactly one time. The importance of automation can’t be overstated.
With the available autmation tools at your disposal, whether you’re in the bath, or sleeping late after a big night out, the things that should be happening on your item listings will still happen without you having to worry about it. It’s essential in the rapidly moving online marketplace.
With proper use of software, you’ll find that each application will complement one another almost perfectly: with apps to auto scout how an item is selling, other apps to adjust the price according to scouts findings and automated inventory apps to list new items depending on the results.
2. Amazon FBA
Amazon FBA (“Fulfilled by Amazon”) is an innovative and fast-growing service created by the folks at Amazon. Combining this outstanding service with your finely picked automation software will leave all shipping and customer service to Amazon themselves. Amazon FBA leaves a lot less for you to worry about, as Amazon handles all the shipping and customer service. It’s one of the primary time and cost-saving solutions for esellers, and if you’re not using it, you’re have to ask whether you’re at a disadvantage compared to your competitors.
3. Keyword searches and SEO
As mentioned above, software can make your life ridiculously, laughably easier! Now comes a key complement to your software arsenal, which is worthy of discussion by itself. One of the most useful tools available is the good old Google Keyword Planner (you’ll need an AdWords account).
With regard to arbitrage, the Keyword Planner will help you find pockets of demand. With the help of Google, relevant keywords can be mined, and you can automate this and up the ante for particular products when you see an increase in Google searches. Google AdWords Keyword Planner can be as simple as it sounds: if people are searching for it, they want it...also, it can be one of the best available sources of market data for the deep data diggers among you.
While the resulting data can seem confusing at first, it's easy to understand once you get a general idea of what you should be observing. You’ll notice how much easier life is when looking for demanded items.
As seen in the image above, make sure you search by Keyword Ideas and not AdGroup ideas to get the best results.
Keep in mind that high volume keyword searches show a significant amount of potential for sales. As such, you can edit item listings due to actually proven results, and dominate the potential for profit. It's important to remember these are previously searched results, not a prediction of the future, but they’re the best guide to where the online action is that most of us can easily access.
So now you have three helpful little pointers to get you moving in the right direction! These tips, if used in a proper manner, will make life as an online seller simpler, more productive and grow your profits like lovely little flowers! With finely picked software, both for automation and for general inventory inspection, you’ll find things a lot easier to handle. Knowing how to manage keywords, and having the proper tools to know what people are searching for, will increase your chance of your product being found, and thus being sold.
Plant an acorn and it’ll grow into a tree. That's the beautiful thing about retail arbitrage. With Amazon FBA, keywords and automation tools regarding both profit margin and competition, you’ll soon find profit you can invest back into your ever growing seller business.
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