Retail Arbitrage Sourcing at Ollie's with $1000 Profit Potential in 3 Hours - Part One
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- Опубликовано: 27 май 2023
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That is a great video. I have known this but many do not. About time someone like you actually explains it. Tankers have no idea what they are doing not just to us but themselves.
And to the whole retail chain beyond us. Walmart over bought an item this past Christmas because we all sold it the year before but this year tankers tanked it so we didn’t buy it from Walmart in the quantities we did last year and now sellers are seeing it at liquidation spots this summer, it’s a Christmas item
Note to Amazon and these race to the bottom junkies, if you think brand manufactures want their prices dirt cheap, you’re wrong. Brands have the name recognition because of quality and longevity. Stop lowering the prices.
YES!! 🙌🏽
We are our own worst enemies
Thanks Nikki for educating us on how to have a successful and lucrative Amazon business; I appreciate your passion.
Thank you!
Thank you for speaking up and using your platform to educate! :)
Thanks girl!
Keep getting the word out! Im a newer seller and always hold a higher price and so flipping frustrating to see the price tanking going on! What it would have been like to sell 6 years ago 😢
Yes! Congrats on starting!!
Thank you for the info, I’m new and learning
thank you for so very helpful information Nikki
This is so valuable… I’ll be totally transparent, as a new seller, before being educated watching your content I was hitting “lowest competitive price, match lowest?” In seller central on all
My notifications thinking as a newbie this would allow me a sale. But I stopped 2 weeks ago learning better… so it doesn’t help Amazon really has it appear that way in notifications and causing tanking
Yes Amazons emails can be very misleading! They are always looking out for the customer and themselves
Yes thanks for explaining how the buy box really works, I've learnt from a top seller and teacher who doesn't worry about the buy box but more about making profit, and many of his items are slow sellers that can take upto 4 to 6 weeks to sell but he makes a killing on them!
I found you from Texan Picker channel. He had a yard sale and a gentleman there recommended your channel!
Awesome!! Thanks for watching!
OMG..Thanks for the education Nikki! I think alot of sellers like to use the "pricing opportunities" option in the sc app, thinking they'll automatically get the bb. I just try not to panic and leave my prices a bit higher.
Yes! Thank you!
We haven't replenish a replen (that we've had for a year) in over 3 months. It's a club store item that we would buy for $17 and sell for $42. We would send in anywhere between 30 - 50 units a week. All of a sudden new buyers came in and the FBA price drop to $31 they replenish at that price plus other buyers come in and start at that price. When we were sending them in Amazon would ask for 900 units, we have 148 units sitting collecting dust across the states! 😕😕😥😥
Why is the Old Spice Elklord in the Grocery category instead of maybe Beauty & Personal Care? I try to watch the categories because there are times when sellers will put items in the wrong categories and the sales ranking is weird.
Do you get approval from brand name companies before selling their product on amazon..like olay?
Hi Nikki, I was trying to sign up for the June accountability fb group I can't find the link
How do you find products that don’t require the ungating process when starting RA?
i think the reason for some of the tanking is that amazon is always asking you to match the lower price of a product. I dismiss all the time. But i guess some think they're gonna miss out. I'm new at this and I learned that right away. I just sold some keychains that i bought to get ungated and just ended up losing a few bucks only. And they were priced pretty high 🤣🤣🤣.
I noticed when i Get the buy box my 10 items that i have are gone in 2 days tops Woo Hoo
With my experience whenever I match prices with amazon, they usually get all the sales and buy box appearance and I basically sit in the waiting list until amazon runs out of inventory before I start seeing sales, and we have the same price items...... I think amazon has a lawsuit against it now and this is on the list of reasons for the suit.
wish we had a Ollie in Canada
Nikki the price tanking warrior 💪💪💪
Lol I’m trying 😆
Hi Nikki how do you download keepa when you scan in the atore. I somehow can never do that
THere is an app in your App Store
I also find the same has happened with costco, the price tankers are there in droves!
Costco and Trader Joe’s are interesting! I’m always thinking that someone must have an employee discount because they always just barely aren’t worth it to buy
@@NikkiKirkI agree, but my son works for costco and they don't get a discount. But he does see the returns from the people who buy pallets of night cream to not be able to sell and make money, that are then returned a year later!
@@morrisfursomg a year later? They allow that? Savage
No lie there is no stone left unturned, u have to be super strategic to make good profits. I hold items up to 1 year or more
Why do you not use a barcode scanner?
A big Thank You for this video. No lie, I was under the impression that sellers had to undercut the Amazon prices in order to win the buy box. I am going to review your video again and save it for future reference.
Yes! Knowledge is power friend! We all start with not totally getting it but keep at it and keep learning
That Old Spice was a meltable. Tankers dropping to sell out before the meltable date.
Wow you did great at Ollies ! Mostly multi packs?
I did at first but you’ll see in part 2 how it went …
This is why I stopped selling on Amazon. I'm tired of the price tankers.
It is really frustrating but there’s still plenty out there and you can make money. All the more reasons to go wide and not deep
Sorry, last rant: What really surprises me though is that IF people had a brick and mortar business, they would NEVER - EVER - EVER sell their merchandise for LESS than they bought it for...BUT some how For some magical reason, because NOW that you're selling ONLINE, somehow math doesn't matter anymore! Surely you realize if you sell an item for less than the cost, you know you'll be out of business eventually... so why if that makes sense for a brick and mortar business - do people not understand online businesses work the same way?
Man! I purchase a high quantity of two separate sku's that were selling for a healthy profit, now I'm losing money because of this exact thing. I have no idea why people do this😪😪
They are looking at it as units vs the actual item I guess
@@carloslopezdesign27 sometimes I can see that. I've had sku's that, if all they did was sell one at a time I would lose money, but they were items that people bought multiple quantities of not often than not so I ended up making a profit. However, that was never by design. I just got lucky. The price was still tanked and we all could've made way more
That’s why I stop selling grocery and Amazon
No joke I’ve sold 0 items. I signed up for my Amazon account and started my LLC in February. I have gone every weekend that I can to stores like Walmart, tjmaxx, Ross, Ollie’s. I’ve found maybe 10 items that were profitable and I had to ungate for those. So I’ve done nothing but lose money at this point. It’s really frustrating. I went to Ross last weekend and there was nothing. I scanned everything besides clothes because I can’t ever get them to show up by scanning the tags. But I scanned beauty, backpacks and purses, hair items and products, men’s items, kitchen and grocery and home. NOTHING. The most profit I found was $2 and some change and I was gated. I just don’t know what to do anymore I’m thinking I may have to say bye bye to my hopes of the Amazon business.
I started in Febuary as well (took a short class to get familiar before then). You pretty much have to ungate for everything, even tho sellers say there are lots of items already ungated (I coldnt figure out what they were). Then there are brands that require invoice ungating where a purchase has to be made. The first Item I sold was gummy bears. It was a valentine item though. I suggest doing some reverse sourcing to see what others are selling to get ideas. Watch some youtube videos, get on some discords and TT showing how to source. I personally really thought I'd be farther along than I am, but sourcing is hard. Others say its like looking for treasure. Im not the treasure hunter type of person. I do like taking a lead and researching it though. Also, on another note, it wasnt necessary to form an LLC just yet (just observing where some of your money went). I dont have one. I do have a Sales Tax Permit though. I hope some of this helped.
@@mstinamichele yes this actually is very helpful thank you. I’ve been wondering where anyone found things to sell that weren’t gated because I genuinely am gated in almost everything I have ever scanned. I was able to ungate in aveeno but now I’m still gated in beauty and I don’t really know how to ungate a whole category. I paid for a course that was extremely unhelpful. It was an online arbitrage and wholesale course and I won’t even say how much I paid it’s embarrassing. Then they wanted me to pay a monthly fee to stay part of their group chat which didn’t even give bolos or anything like that lol. I passed. Part of that course was getting your LLC which really wasn’t expensive at all for my state. The money I feel I wasted was on all the softwares for online arbitrage. That really killed me and still is to be paying for seller amp every month when I’m not finding anything to even sell. I wish I could ungate but I’m at a point where I live paycheck to paycheck so there just isn’t money left over to purchase items and if there is, it’s not enough needed to ungate.
Sorry new here. What is Buy Box?
No worries! It’s the buy now or add to cart button/offer 😉
Hi deepsession mixtapes, I totally agree with what you say especially the part about setting a minimum price after counting the FBA fees. Is there a way we can have a petition for amazon to set a limit on what the lowest price can be? Ill be the 1st to sign
Hello Nikki Kirk! I'm stepping into the retail arbitrage game. I purchased 10 of the same item (electronic) at a store. I'm trying to list the product but had to upload a document (receipt from store)for approval. Am I going the right way? Thank you for your videos!
Most likely you'll need to ungate your products. In that case you will need an invoice (from a supplier), not a receipt from a store. Amazon won't accept receipts....
Thanks! Guess I’ll apply at store and once I get instant approval, I’ll buy.
@@polymathmarket you need to get items in that category from a actual distributor, not a store. Once amazon approves it, then you can sell that brand
Thank you for your time.
Start with wholesaler, get some sales in, then go to stores?
@@polymathmarket you need a wholesaler to get an invoice however I don’t have anyone to suggest for electronics, it’s a risky category in general but if you want it just search for a distributor who can sell you 10 of an item to get ungated
Loved the video! I actually know who Arrow Core LLC is lol he is a seller in my town and I found his storefront and I'm so confused how he's making any profits with the price he is selling at. Its crazy! But ya super sad how Ollies has gone downhill with all these tankers. Used to be my number one spot but not anymore.
All those sellers are selling it small and light.
@@aaronsdecker maybe BUT small and light goes to $11.99 so why sell at $5.47?
@@NikkiKirk because that is how the market works. People need that capital back to invest into more inventory. I agree that a race to the bottom is not the way to go.
@@aaronsdeckerhuge facts
@@aaronsdeckerwhat capital tho like so small profits can u even build capital with so low margins
Ollie’s is only going to get worse tbh I’m in some other groups and shesh these new young’s kids are just matching buy box or even making $1
👏👏👏
Arbitrage is dying. Everything tanks. Even wholesale tanks. Too many uneducated sellers. Amazon sucks. Been at it for a decade. And wish I dedicated my life to something else.
I usually like your videos but sorry... this one is kinda angry lol. Also seems like a shot across the bow at Dan Flynn tbh (who I think has mentioned he learned much of the business from you). I think you guys should talk.
What makes you think she's referring to Dan specifically? Is it because he shows some of the items he's sourcing? Or is it because she chose Ollies? Just curious. I watch both. Dan showed a couple of items on his videos and it was kinda frustrating because the items he showed began to tank the following days. I saw a listing go from 16 sellers to 101 sellers in about a week. Having said that Ollies is definitely becoming a place where people tank prices on Amazon.
I don’t think that’s a fair assumption at all. Your opinion doesn’t align with facts. Dan has said in multiple videos that he shows a few items compared to everything that he’s actually sourced. And he also talks about how he holds ALOT of stuff for months and literally even years, she’s talking about people trying to quick flip products by lowering the prices.
She ALSO says in her video, verbatim, she doesn’t watch other RUclipsrs so she won’t know if the products are from there.. but either way, Dan Flynn is not the only RUclipsr who goes to Ollie’s and shows what he got.
I was actually not talking about him. I have not seen any of his videos or anyone else’s actually. All of this info is what people tell me from watching RUclips and what I see from thumbnails and on other social platforms where I do consume content. Your opinion that it may be him says more about what you believe than I do. Until March meetup when folks told me another him I didn’t know his name which I understand doesn’t put me in the best light because as a creator I should know the others right? But I don’t do this to play the RUclips game. I sell on Amazon. I help others sell and make money. Everything the other creators are doing is killing it for others instead of helping them.
A lot of us are angry at what is happening to our businesses. This is a very important message to be getting out as it is happening so often! Do you like losing money? I sure don't. And I'm so grateful that Nikki keeps promoting the anti price tanking. It is educating people that need it
@@pattoniouschris1176Ollie’s is done for tbh, if you source there just be ready to Mel .50 to $2 if that
It's not just tanking that's the problem... Anyone doing RA can see what the Amazon selling fees are (FBA & Merch) I don't think @ $5.78 you'll see any profit after Amazon takes their fee + the cost of goods. It's simple, basic MATH those people selling this item below $8.00 are actually loosing money, so what are you doing Amazon for anyway? A good indicator if you're tanking the price is if you're way under Amazon's price for the same item. Secondly, I do blame Amazon for allowing prices to fall below the estimated fee + cost of goods price, in other words, Amazon knowingly will allow sellers to tank a product just so their PRIME buyers can get a steal. Uh, sorry no. I'm not going to sell at a loss on Amazon, ever. I would rather donate the item to Goodwill or Salvation Army before I do that. In summary the problem is three fold: #1 newbie, just launched sellers who don't understand price metrics or P&L, they're just happy they got a sale, but don't know their numbers and are actually losing alot of money ;-) #2 I blame Amazon directly - they intentionally allow sellers to tank the prices way below their selling fees, which is really unethical on their part towards their business partners/sellers. For example if they know Amazon's selling fee for a hair balm is $4.00 FBA, they should set a minimum price limit of $7.50 to prevent unseasoned sellers from tanking an item. I"ve actually seen sellers go NEGATIVE on a listing meaning they can't even cover the Amazon seller fees for the item they listed! That's literally throwing away your item in a dumpster! I can't understand who these people are or what their intelligence level is, but I digress. And lastly yes it's the Amazon Reseller TikToks who don't really do a good job of explaining the fundamentals of the business side of Amazon to their followers - who jump in blindly and loose all their money ultimately in the end.