Shopping is fun for a lot of people, trying to find good clothes and the best deals. But, shopping can be a time waster and suck up all of your money! Well, do you know you can actually make money by shopping. Yes, it is true, you can make money by shopping by trying to find the best deals! You can make money shopping threw retail arbitrage.
What is retail arbitrage?
Retail arbitrage is simply buying a product for a low price at a retail store, and then turning around and selling it for a higher price. Retail arbitrage happens in a retail store like Walmart.
How and where can I buy products?
First you need to buy a product for a low price.
You can buy products in retail stores like Walmart or Target. You could also buy products in thrift stores, but only if they are still in the package because you want to sell the product still in the package. Online stores work too for retail stores like Walmart and Target.
When buying the products, you want to buy the products for cheap prices. In retail stores, look threw clearance spots and other items on sale. On the website, look threw the clearance items and items on sale.
In the thrift store, you can look at all items because everything is cheap. Just make sure to check if the item is packaged and unused because people don’t want to buy used items.
Where do I sell?
There are 2 great places to sell.
The first is Amazon. Amazon has a lot of traffic already and you can use many different seller tools. You can use Amazon FBA where Amazon does all the shipping for you, you just need to send it to them.
Amazon offers an app called the Amazon Seller App. This app lets you scan bar codes to see how much the item is worth on Amazon. The app also has other nice features like telling you about fees and the item you scan’s information.
The second website is Ebay. Ebay has also a lot of traffic. But, Ebay lacks an app that you can use to find prices, you will just need to use the website. But, Ebay has a small amount of fees compared to Amazaon FBA.
I would recommend to use Amazon because of the Amazon seller app, which will make your life easier. Also, Amazon FBA offers easier shipping than Ebay. But, Ebay has less fees, which makes Ebay a cheaper option.
If you want and start to practice retail arbitrage, here are some other helpful tips.
- Buy products in large amounts. By more than one product so you have more than one product to sell, just encase it sells very fast.
- Buy all types of products to sell. You want to see what products work to sell for you. Try many different types, and after you sell many different types of products, you can start to narrow it down.
- Try to sell a product for a 100% return. This means that if you buy a product for 10 dollars, sell the product for 30 dollars. And leave 10 dollars for shipping and fees.
- If you are shipping without Amazon FBA, buy shipping boxes at the dollar store. This is where you can buy boxes for the cheapest amount and have the boxes look good.
Retail Arbitrage is a great way to make money by shopping. Buy products from retail stores in clearance or items on sale. And then sell them on Amazon or Ebay.