When it comes to sourcing wholesale products to sell on Amazon, there are many myths and misconceptions.
In today’s post, I’m going to “bust” 3 of these myths!
Myth #1
To successfully source wholesale products on Amazon you should look at an Amazon hot list, find a product that has a Top 1000 ranking; then locate the wholesale supplier for it, sit back and watch the profits roll in…
Myth BUSTED
While it is valuable to know what products are top ranked on Amazon, sourcing wholesale products using this method will only lead to frustration and competition. When you use product rank IN ADDITION to other KEY pieces of data, THEN you’ll have have what you need to source products with profit potential on Amazon.
Myth #2
Amazon is already selling all the ‘good’ products.
Myth BUSTED
While Amazon DOES want to be the earth’s biggest retailer, they don’t want to source and stock all that inventory themselves.
They’re looking to 3rd party merchants to fill out Amazon’s product categories. Fortunately there are an abundance of products that meet this criteria and plenty of room for new products in each of Amazon’s categories!
Myth #3
Sourcing profitable wholesale products for Amazon is the same as sourcing wholesale products for any other marketplace (or your own website).
Myth BUSTED
While there is some crossover, it’s important to understand that selling on Amazon is a COMPLETELY different business model than selling on eBay or from your own website.
- The economics are different
- The customers are different
- The criteria for selecting profitable wholesale products are different
Criteria that makes the difference between sourcing a winning suite of products to sell versus those that don’t.
Sourcing the RIGHT Wholesale Products to Sell on Amazon is a step-by-step course that shows you SPECIFICALLY how to source profitable products to sell Amazon.com.
This comprehensive, but easy-to-understand course will take you from the beginning fundamentals of market research and wholesale sourcing on Amazon, all the way through to expanding your business. We have students in the course with annual revenues up to $7 million dollars per year who have learned sourcing techniques that have grown their business an additional $3 million per year.
The Amazon Revolution
Whether you’re just getting started on Amazon or you’re an established seller, the money is in the sourcing! Amazon is looking for online merchants who can bring variety and selection to the marketplace.
Learn this skill and it will provide you with a thriving business for a lifetime.
-Lisa
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