Online arbitrage is one of the most fruitful methods of reselling. You buy something from one ecommerce site, and sell it on a marketplace like Amazon or eBay for a higher value. Opportunities with big margins spring up all the time, and savvy resellers will know when to pounce on a good one. The ones that master online arbitrage tend to quit their jobs within a few months of trying it, because there really is that much money in it.
Everyone has their own sourcing process. (Personally, FBA Wizard Pro does the trick for me). With each, it’s imperative that you’re aware of how much profit each unit will return, before you make the purchase. If it’s high enough – usually 30% and upwards – it will be worth your while pursuing. Just because you have found a good deal doesn’t mean that the discounts end there.
We all know that promo codes, discount codes, voucher codes (and whatever else they call them) can save us money when shopping. In reselling, they are an under-tapped resource that can save you extra on your online arbitrage sourcing.
What Discounts Can I Get When Sourcing for Online Arbitrage?
Just like when you’re shopping regularly, there are all sorts of discounts out there. It’s just a matter of hunting them down. By no means will this be a struggled, as I’ll explain shortly, but many seem to overlook it.
The types of discounts you can expect from these sites include:
– New customer price deduction
– A fixed percentage discount off your purchase (in a particular category/range or when you spend over a particular amount)
– Free shipping
– App download discounts
– Reward points for purchasing
The best times for your online arbitrage sourcing will come in the early days, because there are so many 10%-20% off first orders codes about.
How Do I Find Promo Codes for Online Arbitrage?
I’m sure you know how to do this yourself, but if you don’t, search for the name of the retailer, followed by [voucher codes], [discount code] or [promo codes]. Something will pop up. Usually, they’re old and don’t work. Sometimes, greatness happens.
Thankfully, these websites tend to be good at promoting their deals, so it’s unlikely that you will miss them. Retailers only put promotional codes out there to make more sales, so they want them to be seen. In the same respect, discount codes website make more money when more people use them and click the affiliate links found on them.
Sign up to their emails and follow them on social media, if you want to find out about them first. It’s recommended that you make fresh accounts, if you’re going to do this sort of thing, because your inbox/timeline will be flooded with promotions in no time.
For those that like a bit of Twitter, they tend to be found there early (especially if they’re leaked ones that aren’t meant to be shared). Search for the name of the retailer with [code] and look through recent tweets for any sign of them. It’s actually worth setting up a TweetDeck search field for the ones you spend at often.
Some of the most popular voucher codes websites include:
Most of them do things other than voucher codes, but they all host these discounts when they hit the web.
Got Any Bonus Tips?
– You can often become a ‘new customer’ all over again, with a new email address
– Make a bookmarked folder filled with the top promo codes websites to
– Sign up to email alerts with a fresh email address
Resellers can forget to think like regular consumers sometimes (mainly because they’re buying in bulk, in high quantities, and are shifting from retailer to retailer). This small tip will increase your margins, increasing your profit by hundreds in the short-term and thousands in the long term.
The benefits of cashback sites have been well-documented and shared within the community, but promo codes seem to have been overlooked. It makes sense to get into the swing of checking for promo codes too.
If you’re already buying something that’s been discounted (with 30%-90% off) they tend to be exempt from promotions. This by no means that there’s nothing out there for you. When you’re a new customers, brands tend to treat you with a reduction of some sort, so take advantage.
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