Absolutely anyone can list a product for sale on the Amazon website, but not everyone is successful in finding out what they should sell on Amazon for a profit. There is a big difference between making a few pence of profit on each listing, and making enough to continue to sell online for a living. Fortunately there are a few tricks of the trade that can help you on your way to success!
Trick one - Know your market area
Let's say you're wandering through your local charity shop and spot an old record for only a few pounds. Great! It could be a collectible! You snap it up instantly and race home to Amazon to list this for sale. Only to discover that no one really wants that record after all and you've just wasted your money.
Select a market area that you know something about, at least initially. This will make you aware of when to snap up a great deal to make a profit, and when to leave well alone.
Trick two - Study your market area
Alright, you already have some knowledge about the area in which you are going to sell, maybe even a lot of knowledge! Despite that you will still need to take the time to study what's already out and about in the marketplace for people to buy, and how much those existing products sell for. Before purchasing any stock, spend some time on the Amazon website looking around the appropriate categories. It is important to remember that if no one at all is selling what you are offering, there may be a gap in the market but there could just as easily be no market in the gap! Supplement your study with a look around eBay and other websites to make sure that what you want to sell will actually disappear from your virtual shelves.
Trick three - Set a minimum profit level
When working out what you should sell on Amazon for profit it is important to calculate exactly how much profit you can actually make on each sale. Let's say you want to sell DVDs, but from your research you have realised that you can only make £1 of profit from each sale. How many DVDs would you need to sell each day to make a viable income stream? 10? Hardly. 100? Maybe.
But what if you could get your hands on some high quality cookware that you could sell for 5 pounds profit a time! Suddenly you only need to sell 20 units to make the same amount of profit each and every day. Setting a 5 pounds profit limit, as an example, could reduce your workload, providing you with more chance to research additional items to expand your buying and selling business.
Learning what to sell on Amazon for profit is not an exact science. It will take time to research your market and to practice selling a range of goods before you start to get to grips with this concept. But don't give up! With just a bit of effort you could soon find yourself in a place where every item you have for sale is delivering you a significant profit
Amanda O'Brien is a successful online seller, eBay and Amazon expert and skilled product sourcer. She is also the author of many best-selling home study courses. Want to learn more about starting an eBay or other online business or simply want to learn the secrets and improve your sales? Claim your free eBay Selling Secrets Report and get free information here: Powerseller Pod.
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