Amazon Virtual Assistant at Beauty Master Mind (2018)
This experience was based on purchasing and market research.
This company had the goal to get frequent sales in Amazon Market place.
The basic process was:
1) finding high demand products in Amazon
2) finding distributors in the internet
3) reselling the items on Amazon at a higher price
The process was learned in an elearning course: Online Retail Mastery
There were used some tech tools to benchmark ideal items and selling price.
At the end the project was not due to the lack of investing resources from this company.
Below you fill find concepts and tools applied in this experience.
Types of products
There were considered pros and cons of product categories. For example amount of expenditure vs profit margin.
Graph Analysis
This analysis was done to evaluate product ranking and historic prices. Buying low had the expectative of selling high in the future.
Types of suppliers
Determine how many and which suppliers to select based on the budget and business goals. MOQ is a determining factor.
FTL vs LTL
Full truckload (FTL) or Less Than truckload (LTL) depends on weght, dimonesions and ammount of product. The objective starting was LTL.
Amazon buy box
The buy box was the main factor of the strategy. FBA warehouses had to be used in order to increase visibility as will be explained below.
FBA
Fulfillment by Amazon (FBA) was used as the recommended strategy to operate.
That means that Amazon warehouses were used and not from third parties. That permited the products to be shown in the "Amazon buy box", having more visual exposure to potential customers.
FBM
Fulfillment by Merchant (FBM) can be a cheaper strategy than FBA. But Amazon did not permit FBM vendors to appear first in the buy box. That would lower the visual exposure of potential customers.
Marketplace
-ASD Market: a recommended tradeshow to find products to resell in Amazon.
-Top Ten Wholesale: a suggested platform to find wholesalers and manufacturers.
There were other marketplaces considered to find vendors and products to resell.
Tools for products analysis
Below you will find some tools used to determine demand fluctuation, prices and product behavior in Amazon.
First list of Features
Add a great slogan.
AMZ Analyzer
This tool was used with a paid license. It was relatively cheap to benchmark products and choose the best to resell. Excel / CSV files were used to upload products to analyze.
JS Scout
Some JS analysis could be used for free. Categories could be chosen and determine estimated sales per month.
FBA Toolkit
The stats given in this tool included average and product behavior in a period of time that could be three days. Some patterns of certain categories were not shown.
Second list of Features
Add a great slogan.
SpyFu
SpyFu offered a limited attempt for vendors lookup. It permited do a benchmark between competitors offering similar products
Keepa
Was one of the most useful tools giving insights on average, price fluctuations in the Amazon buy box and product ranking.
EcomEngine
Provides product analytics but was not in the budget and therefore discarded.