Friday, May 9, 2014

Flipped Out Friday

Take charge of your now in order to create a better later.

Did you know that you can see to top 100 products in any category on Amazon?

Simply go to the category of interest, then click on the little link on the bar that says, "Best Sellers".

Now you can see what is hot on the Zon.

But should you run out and buy up as many of the hot products that you can and send them into FBA?

Things to consider before you jump on the "hot product" bandwagon:

  • Is Amazon selling the product (most likely)?
  • How many other sellers are riding the supposed wave? How low do you have to go on price in order to have a shot at the buy box?
  • What is your buying price? A thin margin on a top seller could bite you in the financial rear. If you can get a high ROI, then it might be worth it.
  • How long is it likely this product will fly off the shelves? Will the trend last? Is it easily available, or a hard to find? Is the manufacturer making it fast and furiously?
  • Is the product seasonal? Will the price drop when the weather changes or the holiday passes?
  • Is it a restricted product? Some of the hottest products are restricted for various reasons (Amazon exclusives, counterfeit issues, etc.). 
  • What is the category? Hot in toys at Christmas is different from hot in office products in June.
Don't flip out if you see a shelf full of Frozen dolls and fill your cart. Scan. Consider all of the above. Make a smart choice based on your risk factors and financial resources.

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