RA Sourcing on Black Friday: 10 Tips for Amazon Sellers
Everyone on Amazon knows that Q4 is the best time to get those huge profits on Amazon selling your products. But did you know that it’s also the best time to acquire inventory to sell due to the sheer amount of sales going on during Q4. Let’s learn how to utilize Black Friday, and make lost of money on holiday season! Let me share with you 10 tips that will make you hundreds of dollars in your retail arbitrage business.
RA sourcing tips for Amazon sellers during holiday season:
1. Come up with a strategy
On my first Black Friday I did not have a game plan! I only started thinking of possible opportunities that Black Friday brings on the actual day of Black Friday: where should I go today, where should I ride to? So I didn’t have a game plan.
What I am suggesting instead is to do your research ahead of time. Think of some of the stores that you might be interested in. All the major retailers are coming up with some kind of list of what’s going to be available for Black Friday. Doing your research, even if you don’t have a perfectly clear idea of what types of products you are going for, will give you a big advantage. Research the email lists that stores send you to your email. Then research those products against keepa, check the prices on Amazon.
Do not wait till Black Friday to download all the apps for major retailers (Savings, Catcher, Walmart, Target) . This will rob you of valuable time – when instead of researching and buying items, you will be stuck downloading apps. There are apps out there for all the big players. They will give you an idea of items for sale on Black Friday, so you can come up with the strategy and research these items beforehand.
2. Have your online information updated
Make sure you remember all you logins to all the places you can purchase inventory at. Make sure you update your online info, including credit card info.
Have your online carts already loaded with items, you know the price will drop and that are profitable, before Black Friday. This way you can load your shopping cart on Black Friday with 20 units, so all you have to do is literally hit the checkout button when that price drops.
3. Triple-check the discounts
Check all the information on the discounts and coupons that you get in the mail/e-mail. Many discounts and coupons have discount limits for 1 quantity. In this case you can bring your spouse, kids, family. The more people you can get to go with you to do RA – always the better.
4. Plan your sourcing
This tip goes along with tip 1. Make sure to map your strat to finish route beforehand so you can maximize your sourcing potential and do not waste any valuable time. It’s even better to do a schedule, but it may not work always because you never know what kind of lines might get into.
Some stores will even offer Black Friday deals on Thursday. If you are okay with shopping on Thanksgiving – go get your profit. So this is something to be aware of and something that you can plan beforehand.
5. Should you assemble a team?
It’s more of a question than a tip. But really you have to think about it. Think about it beforehand and assemble a team if necessary – this way you can maximize your sourcing potential.
If you are going to assemble a team – make sure that your team is responsible and is up to speed with the game plan or strategy.
6. Consider new places to source at
Research new stores, and those stores that are not in the crowded locations. If you can go to a smaller town, or stores a little off of the beaten path you can sometimes get those deals that otherwise might require waiting in line. Try smaller retailers and you might be surprised of the deals you might get. Their marketing and sales teams are just not as good ones as with the big players, but they will definitely have some good items for sale.
Also ask the managers if there is more in the back for those items that you are targeting. Stores are filling shelves with Black Friday deals and might run out of space for some of the items that are profitable on Amazon. Don’t be afraid to ask for specific items that you have done research on. If there is no discount – just ask for a discount! In most cases you will get a discount.
Think outside the box choosing places for your RA sourcing.
7. Don’t wait for Black Friday
Just don’t wait till Black Friday. Couple of weeks before the Black Friday many stores, both online and live will offer random sales and specials every week until Black Friday. Be checking constantly. Check daily several weeks before Black Friday.
8. Maximize your margins
Every year there more sellers and buyers on Amazon. So your main goal is to maximize your margins, utilize discounts as much as you can.
9. Cyber Monday is coming
Know that Monday is coming after Friday. You may not want to spend every single dollar during your Black Friday sourcing, unless you are really finding some great deals. But just remember that there are great deals coming on Monday, when you can actually acquire most of the items online due to specifics of this holiday.
10. Set your budget
Absolutely have a goal of how much you want to spend during Black Friday.