Jun 27, 2022
This year, Amazon is holding not one but two Prime Days, so in today’s episode, I’m focusing on maximizing your profit during this event. After a word about the live class I’m running on doing wholesale for the holidays, I dive into what you can do to prepare your existing inventory for Prime Day, including checking and updating your listings, raising your prices, and making sure you have everything in stock.
Then I take off my wholesale bundle queen crown for a minute to talk retail arbitrage and taking advantage of summer clearances to get seasonal inventory you can sell quickly and build up some cash to spend in preparation for Q4. I’ve got a whole list of items to share with you, from garden hoses to patio pillows to pool accessories, as well as back-to-school items, that can be bought at low prices and flipped on Prime Day for a quick profit. And finally, I explain why, while raising your prices before Prime Day seems counterintuitive, it’s really effective in the frenzy of getting and saving that such events provoke.
Come chat about Prime Day and more in the Amazon Files and Mommy Income community. Join our Facebook group with today’s codeword primeday to learn more about bundling, ask questions, and participate in the conversation with other sellers. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today.
This week on the Amazon Files:
“Prime Day to me is optimizing my listing so my regular items sell continuously and making sure that I have stock of those items - you can’t sell what’s not there so making sure you have the stock, and then selling the season that we’re in so that you can get the faster sales so that you can build up that money and that capital profit to spend on Q4.”
- Kristin Ostrander
“I am going to teach you what to sell, where to get it, how to get it into Amazon, all the holiday action calendar to make sure you’re selling and sending in all of your items and when, so that they’re ranking for holidays, so that you’ve got all of the best holiday sales and wholesale. Why? Because these days, we cannot wait for retail arbitrage.”
“First of all, you need to know why. Why is this important? Why do you need to do this? This is not another gimmick or nothing else, it is just simply minding your business, right? You’re minding your business. I want you to mind your business. And with over 153 million Prime members globally, you’re going to take advantage of Prime Day.”
“This is why we want to take advantage of Prime Day because it gives us instantly more money to spend for the holiday season because we’re going to make fast, quick profit right now.”
“It’s really hard to find a bathing suit around here even in, like, September. They’re all gone. There’s none on the shelf, we have to turn to Amazon. So thank you for buying stuff from Target and flipping it, so I can buy bathing suits in November.”
Grow Your Amazon Business!
Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show, and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword primeday to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.