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Hey guys, new update from me.
This thread is nice because when I see how things change in only 45 days. It is quite amazing really.
Like I said in my last post, I started selling on amazon now for about 1.5 months. The results are spectacular really.
At the beginning, I had maybe an average of 1-2 sales a day, driven by ads. Now I am getting 5-6 a day at least, with occasional blasts (12-15 a day), with reasonable prices. It is really crazy, how much potential e-commerce has. I added a graph of the sales numbers for the last 30 days.
I was also experimenting with prices, so maybe the number of units do not really make a lot of sense. I varied the price between 20-30$ from time to time. I currently get 6$ in hand for 30$ price. That is only 20%, but it has the potential to increase to 35% if I increase my sales volume, then I would not need ads as strongly as I do right now. (Problem 1: Profitability)
I saw my first batch as an experiment to see how the market reacts to the product. Thank God, it accepted the product very well and I am glad that the product sticks in the market. I made 2k$ loss, which is an amount I can cover, but the information I got was very important. On the forthcoming batches, I will have more volume, which means lower costs and I have a better ranking now, so I have better cards for profits.
I need profits for growth and not for takeaway money really. I want to grow my volume and sell more.
Currently, I have only 60 units in stock and I want to replenish, so I ordered a second batch with 500 units. This will arrive probably just before Christmas time, I will probably be out of stock for 2-3 weeks.
The main problem was the storage limits Amazon incurred on new sellers. When you open a shipment in Amazon sellers central, it automatically occupies the volume necessary for it. I opened one shipment to learn the interface etc. and I opened one shipment for the real thing. So I occupied actually twice the volume I needed. One single batch is about 40 cubic feet for me, and I had 10 cubic feet limit (until I get an IPI score, which you get in 9 weeks), so I was hugely over the limit.
After a few mails to Amazon seller help and improving my sales-through numbers, I have managed to get UNLIMITED storage TODAY. (Problem 2: Logistics and storage)
Until today, I was looking for warehouses and tried to solve this limit problem. Now I am glad that I can create shipments, and there is no logistical problem for me now. Huge gain for me, especially when I have a profitability problem.
In the following two weeks, I will be sending my second batch to USA.
In the meantime, I am still living humbly. The only luxury I buy is the trip I bought to Asia. I did not take any vacation this year, so I have taken whole December for myself and will travel to Phillipines after 12.12. until New Year's. I will really be a digital nomad for 1-2 weeks.
If anyone is around Phillipines, Bali or Hong Kong in December, let me know and we can try a good restaurant together.
Cheers everyone! Hope the rest of the year will bring profits to us all!
This thread is nice because when I see how things change in only 45 days. It is quite amazing really.
Like I said in my last post, I started selling on amazon now for about 1.5 months. The results are spectacular really.
At the beginning, I had maybe an average of 1-2 sales a day, driven by ads. Now I am getting 5-6 a day at least, with occasional blasts (12-15 a day), with reasonable prices. It is really crazy, how much potential e-commerce has. I added a graph of the sales numbers for the last 30 days.
I was also experimenting with prices, so maybe the number of units do not really make a lot of sense. I varied the price between 20-30$ from time to time. I currently get 6$ in hand for 30$ price. That is only 20%, but it has the potential to increase to 35% if I increase my sales volume, then I would not need ads as strongly as I do right now. (Problem 1: Profitability)
I saw my first batch as an experiment to see how the market reacts to the product. Thank God, it accepted the product very well and I am glad that the product sticks in the market. I made 2k$ loss, which is an amount I can cover, but the information I got was very important. On the forthcoming batches, I will have more volume, which means lower costs and I have a better ranking now, so I have better cards for profits.
I need profits for growth and not for takeaway money really. I want to grow my volume and sell more.
Currently, I have only 60 units in stock and I want to replenish, so I ordered a second batch with 500 units. This will arrive probably just before Christmas time, I will probably be out of stock for 2-3 weeks.
The main problem was the storage limits Amazon incurred on new sellers. When you open a shipment in Amazon sellers central, it automatically occupies the volume necessary for it. I opened one shipment to learn the interface etc. and I opened one shipment for the real thing. So I occupied actually twice the volume I needed. One single batch is about 40 cubic feet for me, and I had 10 cubic feet limit (until I get an IPI score, which you get in 9 weeks), so I was hugely over the limit.
After a few mails to Amazon seller help and improving my sales-through numbers, I have managed to get UNLIMITED storage TODAY. (Problem 2: Logistics and storage)
Until today, I was looking for warehouses and tried to solve this limit problem. Now I am glad that I can create shipments, and there is no logistical problem for me now. Huge gain for me, especially when I have a profitability problem.
In the following two weeks, I will be sending my second batch to USA.
In the meantime, I am still living humbly. The only luxury I buy is the trip I bought to Asia. I did not take any vacation this year, so I have taken whole December for myself and will travel to Phillipines after 12.12. until New Year's. I will really be a digital nomad for 1-2 weeks.
If anyone is around Phillipines, Bali or Hong Kong in December, let me know and we can try a good restaurant together.
Cheers everyone! Hope the rest of the year will bring profits to us all!
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