Does retail arbitrage really work in the Uk, is a question I am seeing time and time again recently on the forums and groups. And the simple answer is yes it does work. Yes it is a bit harder here in the UK than it is in the USA.
To make it work you need to get out there, scan, scan, scan and guess what scan items. Yes it takes time, yes it takes work, yes it takes patience. Remember this is a business you are running, and if you ask any successful business person here in the UK, or around the world and they will tell you that it took time, work and failures to build it to what the business is now. And will continue to take time and hard work.
I believe one of the factors why people are saying it does not work, is the fact that they are going where the masses are going. Now please do not get me wrong on this I love to help people, yes think it is great when people share a BOLO (Be on the look out), but let’s have a little look at this. Say I see a hot product in Tesco, and quickly add a post to one of the many groups out there in the UK for sellers. Suddenly hundreds and at times thousands of people see that, dash out and buy the product. Now we have the situation of where the sales rank was good, two or three FBA sellers and a good price, to 25 FBA sellers and people tanking the price. Not so good now.
- When I go to a store online or offline I tend to go where there are less crowds, I look at the back of the shelves, I look on the bottom of shelves, depending on how I feel I will ask the section manager if they have any shelf-pulls they need to shift as I might be interested if the price was right.
- Think about packs and bundles as you are walking around the store, think how can I be different and stand out from the crowd. How can I turn this product into something different that people need.
- Get yourself out there on a regular basis, visit those stores, keep those eyes peeled, ears open to what opportunities are hidden, just waiting for you and me to take advantage of.
- Also when doing Retail Arbitrage both online and offline do not go for quantity of the same items. Only buy 2 or 3 of each item. Go wide instead of going deep. Only go deep when the item is a proven seller and look at buying those proven sellers from a wholesaler.
But the golden egg in all of this Retail Arbitrage is take a wander down those, small country lanes where the path is less trodden and there are only a handful of people and it is on these shelves, often hidden that you can find those gems of products. Also again visit the smaller retailer and see what they have on offer.
Andrew Milburn has been selling on eBay and Amazon for many years
and is now helping many others from around the world learn the
freedom of selling on Amazon and eBay can bring. Andrew is currently
working with Jim Cockrum and Skip Mcgrath as an Amazon Consultant and eBay Consultant and offers coaching through their coaching programs. For further information please fill out the box to the left.