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Why Are You Making Me Do This?
You. Yes, you. You're serious about online arbitrage, aren't you? OK, in that case, listen to me. I'll show you how to get to the money quicker. Step 1 – go and create accounts at every online retailer they can think of. (I've got a recommended list over here). Simple measure, yes, but it will be a powerful, free starting place for a lot of your future sourcing.
Once your online arbitrage journey is under way, it won't be long before you realise how fruitful the most random products are for resale. I've bought hammocks, battery chargers, inflatable animals all in the name of OA, and you might too. Random websites – the sort that you would never ordinarily touch – may be filled with flippable deals. It's up to you to hunt them down, and ensure that you're there before others.
Speaking of competition, that's the other reason why you want the accounts ready to go ASAP. When a big promotion is on, you don't want to be the one that misses out on the deals because someone else is bulk-buying all the good stuff. If you have an account ready to go, your shopping experience will be more efficient, because you won't have to input your billing address, and delivery address, and card details and all the rest of it. When there's an Argos 3 for 2 on toys that all the resellers know about, you'll appreciate it.
Don't Forget to Sign Up for Those Newsletters
The single quickest free way to find online arbitrage opportunities is to sign up to email newsletters. Every clever online retailer has a way for customers (and potential ones to) to receive updates about their latest deals and offers. This invaluable sourcing method will give you an advantage other those that rely on more manual sourcing methods.
But All That Spam Though…
Here are a few tips for ecommerce email newsletters:
- Create a separate email account. You may think it's more efficient to work solely from one email, but having a different one to your buying account means your purchasing email account is (mostly) free from promotional material – the majority of which won't be helpful to you.
- Set up email folders rules. You could sort them by category. Or split out retailers that are FBA Wizard scannable from those that aren't. You can have a folder for websites you're yet to buy from, compared to the ones you're always comfortable to source from.
- If you outsource this work, set up auto-forward emails from retailer newsletters, so they're on the bell with the best opportunities, as they appear. It's a time saver, and won't rely on you being available to send the message on.
Final Thing
If you're going to all of this effort to get ahead of the competition, you need to make sure that you're getting money back on all of that spending too. Nectar, Top Cashback and Quidco are absolute essentials in this game. It's free money, and comes as a nice bonus every few months. Most big ecommerce sites will have some sort of cashback deal going off, so you just need to make sure you check them before you press ‘Buy'. Read my full breakdown of cashback, if you want more details.
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