Yes, you probably made a big mistake starting off in what is probably the most saturated market on Amazon or just about anywhere else. Amazon is a venue that is worth working at as long as you do it smartly.
Your comments were very well said…@‘Living in a Van.’ I’d like to add to that…I’ll make it short. 1) Start small and don’t expect to “make it” your first year, or even your second year. 2) Build on the aspects of your business that are successful. Rethink the others. 3) Always have a backup plan. Amazon is unpredictable, and often what many of us perceive to be unfair, in many ways. People get suspended for lots of reasons that don’t make sense.
I am just in the ‘mediocre’ category, if that. But do appreciate the ability to work independently. The first 8 years were fantastic and I was able to be caregiver to my husband during a 6 year, heart wrenching battle with cancer and still manage my business. The last two years things have dramatically taken a different turn here…You can draw your own conclusions on that.
- Rely on your own instincts as your determining factors, and enjoy the journey, the best you can.
One thing is sure.
The ship of easy profits has long sailed.
It is still worth it if you work hard, do not follow the herd, and have some idea of what you are doing.
And… It will take time.
Basically (I believe) there are two main models for selling on Amazon, not including anything grey hat, or drop shipping.
Selling products like a brick and mortar store. If you know a specific line already (i.e. camping supplies) than you will know where to source, etc.
In this model you compete with tons of sellers and their brothers…
Private or third party branding. This is when you source a product from a manufacturer and put your own name and logo on it.
Has its own issues. You have to make sure you don’t infringe on patents, trade marks, and what have you.
If you can come up with a good idea for a private labeled product that is not yet on the market, or can improve in an existing one, then you have a good chance of success. You will also be able to sell it on other sites. But you will need resources and patience.
In other words NO.
You could waste a lot of time here and get nothing out of it…but a minimum wage income.
You can get $9 per hour working part time a Taco Bell and make as much…
Lost “Opportunity Cost” is WORST PART of AZ.
As a small “after work” hobby its OK. But for most sellers its never going to be significant source of income…
Short Answer: NO
My advise to newbies is stay away…unless you’re absolutely unhireable or otherwise a hopeless case…
Okay, well let me confirm.
I will do whatever it takes if it can work. I’m a very hard working person and I’ll put in all the work it takes. I understand it will take time, and I’m willing to wait. That wasn’t my question. My question was if there is something over the hill, if there is some form of Amazon success at all, or all just a rat race that never ends anywhere. The answer to that question seems to be overwhelming YES as in that it is a waste of time. But my question is why so many people do it? Surely thousands of sellers that have been here for years don’t just do it because they enjoy constantly working and sourcing products and never making any money…Surely there is some form of success be it very hard to obtain. I’d hate to think of Amazon as the world’s largest
I am going to have to second this opinion. You got into what is surely the most crowed, competitive and least profitable category. (Least profitable as in slow moving inventory, therefore slow money turnover. Margins might be good if they sell, but your sales are slooooow due to the myriad of competitors.) Definitely find another product or products to sell.
I was thinking of doing something more expensive to give myself higher profit margins, such as electronic accessories or the electronics themselves such as tower PCS (Cyber Power PCs). Is this an unrealistic goal at this point? Or should I stick to less expensive items? The market isn’t saturated in that realm as much as a few others it seems and it seems to be a very realistic option. Is using Alibaba too mainstream and nearly every product I find on there is going to be already listed? Should I look further than Alibaba?
Yes, I know your joking. All of those are in saturated markets. As I said in my earlier message, do you think Alibaba products is too saturated as a whole? Or are there still good items for sale that are untapped?
So is using FBA a bad idea then generally speaking? I think that for the more expensive items I’m not sure if I could do better on the shipping rates. That said, last time I checked I don’t charge myself for keeping my items in my own house…so saving on storage costs would be amazing for not doing FBA.
FBA seems to be a money pit unless I am established and selling a lot over a short period of time. Am I right?
This site is a site where there is little room for error.
Merchandise you might have sold 6 months ago might be prohibited now, or uncompetitive or unprofitable.
Policy enforcement could be far greater.
Fees and shipping are definitely higher.
A head for detail can help a lot, a long attention span as well, and some experience is always a benefit.
You cannot sell on Amazon using autopilot any more. The scan, ship to FBA, autoprice strategy is tougher to make work.
I make money here.
I have always had a minimum sell price and profit requirement.
I have always had a maximum number of competitive offers which I will not list against.
I have always had a diverse inventory.
I have always managed my product cost to allow me to sell items which are not fast sellers.
I have sufficient space to store my inventory, without incurring high overhead.
>. I’m about to begin selling 300 units of 7,8, x iPhone Cases, and I’ve already failed at selling HDMI cables due to the markup being too low. However, I worried I’ve made a mistake going into possibly the most saturated of the most saturated (mobile accessories)
IMO this summarizes a way to fail. Your chances of succeeding are under 1%.
My chances of succeeding on this product…not Amazon in general I’d assume.
However, I have enough money left over from my Ebay days to survive this disaster and to try again several more times. Amazon is obviously not my main source of income…so I am able to deal with the amount of time (years maybe) that it will take to succeed
Edited by: Provectus Technology on Jan 7, 2018 11:15 AM
Okay, yeah that sounds good. Because of all the fees, if I don’t sell them within a month or so (and I mean all of them), I’ll make very little profit (if any; or heaven forbid lose money)
Okay, but at least its possible?
i understand I must constantly being adapting (as I really would be in any business amazon or not), and as I said I knew it would be hard…that wasn’t the question. If it is possible (within reason), then I will stay the course until I make it or my head explodes.
Edited by: Provectus Technology on Jan 7, 2018 10:56 AM
If you make enough to justify it to yourself then yes. Otherwise no. I do FBM so don’t run into storage fees for my items that have been listed for 10 or 15 years. That way I can sell a $100 or $200 item and still have it be worthwhile.
Well yeah…I just mean in reference to if it is even possible to make enough to justify myself…which I believe it is now
I’m pretty sure that trend is at its tail end. Frankly, I’m surprised anyone is still selling them.
Look into fidget spinners. Get rich quick on those