Transcript Part 2 Power Point Presentation

FBA Coaching
with Chris Green
CEO of FBAPower
Part 2:
If you were scouting with
me, where would we go?
Already Gone Through PAC
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How do I sell on Amazon?
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What is FBA?
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How do I use FBA?
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What tools & programs do I use?
FBAPower & FBAScout Support
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Support: email [email protected]
Watch the Videos
http://fbapower.com/home/fbapower-videos/
FBAPower support staff happy to help
Where to find inventory - BOOKS
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Book sales
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Thrift stores
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Garage sales
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Estate sales
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http://booksalefinder.com/
Books & Media:
Pros
Cheap to acquire
Leads to high margins
Low cost of investment in inventory
Books & Media:
Cons
Most competitive category - most scanners still consider
themselves book sellers and have not made the transition to
FBA & ‘Everything Else’
Limited places - if not in major metro area, thrift stores may not
be as pentiful
Book sales and library sales are only on certain dates of the year
More work per unit- finding ‘singles’
Where to find inventory – Everything
Else
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Retail stores
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Closeout stores
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Discount Clubs (Costco, Sam’s, BJ’s)
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Pharmacy
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Grocery store
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EVERYWHERE!
Retail Arbitrage:
Pros
Many places to acquire inventory
Some open 24/7
Not as competitive
Less work per unit - finding ‘multiples’
Easy to list ‘multiples’
Easy to replenish
Opportunity to create new listings
Retail Arbitrage:
Cons
Higher product cost per unit
Higher inventory costs
Can lead to lower margins
Can be considered higher risk
Side Note: Creating Listings
Skip McGrath has posted about how he creates
new listings in the MST forums with great
success.
Skip uses the same strategies that I tought him
and I’m teaching you here.
How to prevent competitors from listing on your
newly created Amazon product page.
How to Make a Unique Amazon Product Page
(Prevents competition from piggy-backing on your listing and driving price down)
Where to Buy Bar Codes
So, Where Would We Go First?
Closeout stores like Big Lots
Already lower price
Constantly putting out new inventory
Cities with multiple stores – go to them all!
Clearanced Items First
Almost all stores have a clearance section
Prices already lower than regular price
Items may be seasonal, slow moving, or old
models
Doesn’t matter on Amazon – product is either in
demand or not. If it is, buy it!
Talk to store manager to get additional discount
Stores that you don’t think of
Many stores sell a variety of items that they are
not known for.
What I say Kohl’s, TJMaxx, or Burlington Coat
Factory, do you think of a place to buy toys?
Each of these stores (and many others) sell
products other than their primary category.
They will often have a big sale to move items
that have been sitting for too long.
Exclusive Products
Example: Toys R Us & Target
Both get exclusive toys; you can only buy them
from Toys R Us or Target
Toys are advetised on national TV creating
demand
Not everyone lives near a store
Amazon buyers PREFER to buy from Amazon
Exclusive Products
If retailer exclusive, then you know that Amazon
won’t sell it directly – less competition
Exclusives can have long term value
Think of collectors who want a complete set of
toys – they need the exclusives
If they don’t live near a store, they buy online
Exclusive Products
Sales Rank: 30,000
Exclusive Products
Sales Rank: 7,000
House Brands
Example: Craftsman at Sears
Example: Ryobi at Home Depot
Same principles as exclusives – demand exists
that prefers Amazon but Amazon does not sell
the item (until you do!)
General Retail Store Strategies
Avoid ‘commodity’ items
Example: Newest Fisher Price toys – Amazon
likely sells (unless a low cost makes it
worthwhile)
Look for items that you may have never heard
of – just because no demand in store, doesn’t
mean no demand on Amazon
General Retail Store Strategies
Stores in rough parts of town can have great
stuff
Slower sales means merchandise sits on shelves
longer
Good items that are sold out elsewhere are
sitting on the shelf
Other scanners don’t go to them – go where
your competition doesn’t go!
There is no ‘List’ of good products
It’s not the items, but the characteristics of the
items that make them winners
Consider brand, cost, margin, competition
Importance of learning to read FBAScout data
Pixar effect – Cars came out in 2006
Still strong demand for toys from Cars
Toy Story 1 came out in 1995!
FBACoaching Parts 3,4 & 5
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Part 3: How to buy lower than your
competition – retailer secrets
Part 4: There is always gold, lazy scanners,
advanced FBA
Part 5: Open questions. Send them in ahead of
time. No time limit; I’ll answer them all!
Questions?