In the past few years retail arbitrage has been growing, thanks in part to Amazon and eBay making it easier than ever for individuals to start selling on marketplaces. When stores discount merchandise or put items on clearance, people buy out the products just to turn around and sell the items on Amazon at full price.
Some resellers make their entire living off of this strategy by leveraging the price difference between two markets. Retail stores lose heavily due to retail arbitrage and are starting to take notice. Kohls and Target have tried to significantly cut down on people buying items for internet resale, but what can you as a physical store owner do to combat losing money?
If you can’t beat them, join them. As a physical store you can also list the items you have for sale on internet marketplaces, without having to build out a complete e-commerce presence. Many merchants do not realize how easy it can be to list some of their old or overstock inventory for sale on marketplaces.
Listing items for sale on marketplaces like eBay and Amazon can be as simple as scanning the item’s barcode and entering the price or cost of goods. An automated software tool can take care of the rest, including listing the item for sale on the marketplaces, keeping your price competitive with other sellers (but still making sure you have a profit) and then making it easy to pack and ship the item when it sells.
Once you are comfortable with the way each marketplace operates, you can sync the data from your POS and inventory system automatically to your marketplace software to list more of your inventory. The software can intelligently take into account what should be listed on marketplaces, including criteria such as inventory age and item weight and size to avoid shipping at a loss, and what can be sold at a higher profit online than in store.
The reason retail arbitrage has grown so quickly is because you do not have to be an ecommerce expert to sell items on marketplaces overnight shipping cialis. You don’t need to invest into building an ecommerce store, taking photos of your items, setting up payments and promoting your website. Amazon and eBay do almost everything for you. Isn’t it time you took advantage of the same capability to improve your business’s success? You’ll always be able to heavily discount items to get them out of your store, but it’s worth trying to sell them on the Amazon or eBay and capture a higher profit before going the clearance route.
If you operate a physical store and are looking for a way to cut into retail arbitrage and sell your items competitively on marketplaces without having to invest heavily into eCommerce to see results, check out Monsoon Marketplace. From dynamic re-pricing to inventory management, Monsoon Marketplace puts you in control of marketplace selling.