When most people think of selling online many times they automatically are thinking ebay. While eBay remains the largest online auction marketplace their main competitor amazon is also an excellent place to sell merchandise. This is especially if you are selling any kind of used media such as books, music and movies. Here are some important things you need to know to successfully make a profit selling on amazon.
1. Since people who buy from amazon are generally looking for the best deal it is important to be able to compete to offer the lowest price or at least be very near the bottom. That means you will need to acquire items very cheaply.
2. The best places to find used media for very low prices that you can sell on amazon are thrift shops and garage sales.
3. If you are scouting for books you will need to be picky on what you purchase. The kind of books that do well on amazon are specific topical. Examples of good topics that do well are business and finance.
4. If you are scouting for music to sell your best bet is to stick to greatest hits or compilations.
5. Another area that is important to cut costs in is with your shipping supplies. Since your profit margin on the actual product sometimes is low you can make up for that by earning a profit on shipping. Amazon compensates you with a shipping credit. If you purchase your mailing and printing supplies at a discount wholesale store you should be able to make a profit spread between your shipping credit and your expenses.
6. If you sell more than 40 items a month upgrade to pro merchant. There is an additional 1 dollar fee on each item you sell that every pro merchant doesn’t get charged so it saves a lot of money for high volume sellers.
If you follow my suggestions when you sell used items on amazon you will be able to increase your profit from your business.