By Lauren Carter
Top Tips For Sourcing Stock on Black Friday
The holiday season is well underway and Black Friday is rapidly approaching. This is a great opportunity to grab some bargains, for Amazon sellers bargains mean only one thing and that’s profits! You can take advantage of the day by purchasing products at discounted prices to resell on Amazon. ProfitSourcery provides you with a daily list of product opportunities but on Black Friday there are so many deals it’s worth doing some shopping yourself outside of your ProfitSourcery account. There are a few things to consider before the day arrives to make sure you make the most of it.
Make a plan
Don’t just go out and wander around stores or browse random websites in the hope of catching a bargain. Think about where you want to shop, what type of products are you looking for and where you are most likely to find them. Do some research on last year’s sales, find out which stores were reported to have the best deals and prioritise those. Write down a list of the places you want to visit and what you want to look for. Focus on the categories and products you know well so that you can analyse products quickly and not waste time.
Come up with a budget
Think about how much you are willing to spend. It’s easy to get caught up in the buzz and spend way more than you had intended to when you see all the great deals. Think about how much you can afford to spend and write out a budget for each store you plan to visit. If you go over budget in one store remember you will need to spend less somewhere else. Start saving in advance if you need to, so you can make the most of the sales.
Some stores will limit certain offers to certain times of day or will put restrictions on how many products each customer can buy. Don’t waste time trying to buy products which aren’t on sale yet or trying to buy 100 of a product when you’re only allowed 10. Find out each stores limitations so you don’t waste time on stock that’s no good to you.
Don’t get distracted
When the day comes you need to stay on target. Don’t get distracted by shiny things you don’t need and products you can’t resell. Stick to your plan as much as possible although you should be prepared to be flexible if a store is too busy or a website goes down. Keep your end goal in mind at all time and don’t wander from that. Don’t be intimidated by long queues, it will be worth the effort when you see the profits rolling in! If you are shopping online then try to stay focused. Turn off the TV and concentrate on what you are doing. Make sure you take breaks so you don’t go too crazy!
The holidays are a stressful time for Amazon sellers but a great holiday season can really set up your business for the new year. You will get back what you put in and sourcing the right stock is a big part of it. Make sure you’re prepared and you can turn Black Friday into a great day for your business.