Category Archives: Sales Rank

To Share or Not to Share a BOLO

man-looking-through-binoculars2In our last blog post, we talked about how to capitalize on a BOLO. We shared many ideas of how to make the most out of both your time and your money when it comes to a BOLO.  Note: In today’s blog, we’ll be discussing retail store BOLOs (not garage sale, thrift store, or other types of BOLOs).

As you may know, BOLO stands for “Be On the Look Out” and generally refers to a hard-to-find product that you need to be looking for in order to buy cheap and flip for high profits. It only takes a few months of doing FBA to recognize that you keep finding a specific product that seems to resell fairly fast. Most BOLOs are  hard to find (i.e. limited production or out of print items), but sometimes it’s an item that can be found many places. You’re always on the look out for these items and sometimes hop from store to store looking for them. It could be clearance or regular priced, but you always are looking for them to buy and flip.

Some resellers are totally against sharing BOLOs while others share them often. So what should you do when you find a BOLO? Should you share it or keep the find to yourself? The choice is up to you, but I’d like for you to consider a few things before making your choice.

1. Is it really a BOLO?

Just because you scan an item and all the Amazon sellers are asking big bucks for it, doesn’t make it a BOLO. The rank and the ROI (return on investment) both need to be good. It would help if the product has good reviews and is a brand name. Just because you scan “Miss Suzy Cries A Lot” (a toy with no sales rank) and everyone on Amazon is asking $200 for it, doesn’t make it a BOLO.

2. Is it possible that this item really isn’t that hard to find?

Hard To FindThink of what would happen if you shared a BOLO that could be found at almost every Walmart store. Sure, you keep buying that item for $5 and selling it for $25, but what would happen if 100+ other resellers started doing the same thing? Chances are that, over time, the price would most likely be lowered significantly, and you would not resell your item as fast as you were before. Maybe you have the patience to wait for the prices to rise back to what you’d like to sell it for, but the timing for that possible rise is completely unknown. If the item is not hard to find, then it might be in your own best interest to keep this find to yourself.

3. Are you OK with revealing someone else’s BOLO?

Sure, you may have found a great item from Walgreens to flip. In fact, you drove all over town to visit all 10 Walgreens in your area to buy them out of that particular item. You sent the items in to Amazon, and they sold fast. You keep going to Walgreens to see if they will be restocked, but they never are. You decide to share your BOLO find online so you could help others, but someone else isn’t too happy about it. You see, they too have found that item and have been reselling it on Amazon for months. Their stores keep restocking, so they keep reselling. But now, someone else has shared this item online and what once was a quick source of income for them has now slowed down dramatically.

4. How would you feel if someone broadcasted your personal BOLO?

I’ve had one of my BOLO items broadcasted, and I wasn’t too happy about it. But it also didn’t ruin my day. I know that this is just part of business, and I expect it to happen again sometime.

I’m not telling anyone what decision to make when it comes to sharing BOLOs, but I do think that we all need to think about these things before we post a BOLO publicly.

So, what do you do if someone shares one of your precious BOLOs and you’re not happy about it? How you respond to this happening to you could either make or lose you money in the long run, so it’s very important to think about how to best respond.

1. Respond with respect. Most of the responses I’ve seen online to BOLO broadcasts have been rude and disrespectful. This kind of response does no good for anyone.

2. Respond with a direct message. Consider sending a direct message to the one who posted the BOLO and explain your situation. Perhaps they’d consider removing the post if they understood where you are coming from. I think most people would understand and possibly remove the BOLO broadcast.

3. Decide how you want to react with your current BOLO items on Amazon. If you think that hundreds of your BOLO items are headed to Amazon, do you want to sell out as fast as possible, or will you hold on to the item and wait it out? I teach that patience brings profits, but I also know that some of you work with a business model that focuses on quick flips.

BOLOs are great, but don’t focus your business around them. They are nice every now and then, but eventually others will find out about this item or the store you buy them from will not restock them anymore. A business model focused around BOLOs will not survive in the long run. You need to have a well rounded list of inventory items (long tail, short tail, BOLOs, etc).

What do you think? What experiences do you have with BOLOs? Is there a good time to share a BOLO? What have you learned about BOLOs that you’d like to share with the group? I’d love to hear your thoughts.

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A Case Study in Sales Rank

41ABSIQsvzL._SY300_Today we’re going to look at the sales rank history of a specific book I’ve been following for over seven months. I first found The Boy Captives at a thrift store near my home and quickly bought it. The book had a rank of about 1 million and was being sold as used on Amazon for over $25. This was my kind of find. My only hesitation was that this book had a rank of over 1 million. I remembered reading that ranks over 1 million won’t sell that often and that I should stay away from them… I’m glad I bought that book, for it’s given me a huge lesson in sales rank.

As with most of my inventory, I sent The Boy Captives in to FBA as soon as I could. I didn’t think much of it and assumed that it would sell someday, but probably not very quickly. I assumed this was going to be a “long tail” item. A few days after the book arrived at the FBA warehouse it sold. I was excited and was wondering if all the “gurus” who warned against selling books over 1 million were right or wrong. I decided to start tracking the sales rank of this book on a daily basis to see what would happen. The results surprised me.

After I sold the book, its sales rank jumped from over 1 million to 247,216. In the book category, this is a great rank. One week later, the book was at 680,293 (still a pretty good rank). Two weeks after the sale, the book was ranked at 1,086,291. The rank was getting worse daily over a two week period — because the book had no sales during that time. Only a few days later the sales rank jumped to 154,950, telling me the book had sold again. The book would follow a similar pattern over the next 7 months. The image below is a screenshot from CamelCamelCamel, showing how the book was purchased about 22 times in 8 months (each spike straight up signifies a sale).

Boy Captives Sale Rank

If you found 20 copies of this book in a thrift store when it was ranked 108,645, then you’d probably buy them all to resell. But if you found 20 copies of this book when it was ranked at 2,145,787, then you might pass on all of them. So when you are out scanning books, how can you tell if this is a good book to resell? The answer can be found by looking at factors other than just sales rank.

An additional factor that makes The Boy Captives a good book to buy to resell is the number of sellers. Currently, there are only 7 sellers with this book for sale. The lower the number of sellers, the fewer the sellers who might lower the price of the book in order to seek the next sale. If The Boy Captives had 200 sellers, then it’s likely that they might, over time, begin to lower the price in seeking the next sale. The fact that this book sells, on average, every 11 days means that having a lower number of sellers will most likely give you the sale at the higher price you’re wanting. If one seller drastically lowers their price to be the lowest, it’s not a problem. They’ll sell their copy, and about 11 days after that, you can get the next sale.

So when you’re out sourcing and find a book with a sales rank of over 1 million, take a look beyond the sales rank and see what else you find. Even finding a 2 million ranked book might bring you back a nice payday sooner than you think. Just look a little harder at the information given to you. You’ll make better decisions and your pocketbook will thank you.

How about you? What other factors do you look at when you are buying a book for resale? Leave a comment and let us know about your experiences with books with “high” sales ranks.

Want more info on how to make FBA your full-time job? Scroll up , look at the right side of your screen, and subscribe.

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Sales rank is easily the most misunderstood aspect of selling on Amazon. What is a good sales rank? What does a sales rank of zero mean? What do I do with sales rank for sub-categories?

Why does sales rank have to be so confusing so much of the time?

I’m here to tell you it doesn’t have to be that way! You can finally get the clarity you need on the issue of understanding Amazon sales rank numbers. We at Full-Time FBA have launched a mini-course called The Reseller’s Guide to Sales Rank: Understanding Amazon Best Sellers Rank for Maximum Profits. The mini-course is a combination ebook (30+ pages) and video course (almost 2 hours). 

Check out The Reseller’s Guide to Sales Rank mini-course to see how you can master the concept of best sellers rank and be on your way toward smarter sourcing decisions for your Amazon FBA business!

 

 

What Does a Sales Rank of Zero Mean?

Most Amazon resellers use sales rank as a major factor in deciding whether or not to buy an item to resell. But what happens if the sales rank for an item is zero or “N/A” (Not Available)? Are there any other ways to decide if this item is worth reselling on Amazon?

For most items, a sales rank of zero simply means that the item has never sold, or has not sold in a long, long, long time. This will apply to most of the items that have no sales rank, but there are some exceptions.

Some categories don’t offer up sales ranks. Electronics is an example. Amazon does not provide the sales rank in relation with the whole category — they only offer up sales rank in subcategories under Electronics. (Read more on how to decode the Electronic sales ranks.)

Sometimes Amazon decides that sales rank in certain categories should disappear for a few hours or a few days. One time, all sales ranks for books disappeared. To be honest, I panicked a little. I’m not sure if it was an error on Amazon’s part or if they were doing something with the algorithm, but for a few hours, it was gone. I was relieved to see sales rank for books return, but wondered what life as an Amazon reseller would be like without relying on sales rank.

Some items have a sales rank of zero, yet I sell many of them a month. Why is Amazon not giving sales rank for that item? Who knows.

So, if you come across an item with no sales rank, how can you tell if it’s never sold, not sold in a long time, or is actually a great selling item? Here are a few ideas:

Seinfeld Scene It Comparison

Seinfeld Scene It Comparison

1. See if that item has another product page.

If you come across an item with a zero (or N/A) sales rank, search Amazon to see if the item is being sold on another product page. Many times the exact same item will have multiple product pages. As I write this blog, the board game “Seinfeld Scene It – Deluxe Edition” has SIX product pages. Those pages are offering the exact same game at prices that range from $14.69 to $324.99. As you might assume, the page that is offering this game at the cheapest price has the best sales rank, while the page offering the game for $324.99 has a ZERO sales rank. Even though Amazon is trying to combine all of the products with multiple pages, they’re still a long way off from completing that task.

2. Check out product reviews.

If an item sells often, then it most likely will have plenty of current 5-star Amazon product reviews. Be sure you check to see if the reviews are current. Just because an item has 500+ 5-star reviews from 2007 doesn’t mean that it will sell now.

3. Make an educated guess based on your experience.

If you’ve been selling on Amazon for a while, then you’ve started to get a feel for what a good reselling item looks like. You know what you’ve sold before and what might sell in the future. You know what brand names are stable and provide consistent sales. You know what knock-off brands are not good for sales. If sales rank was pulled, or you are out without your scouting tools, you can use your experience to make an educated guess on the buy. If you get home and are wrong, you could always return the item.

One thing I hear often (when listening to FBA podcasts or reading FBA blogs) is that sales rank is never promised by Amazon. It could be pulled at any time if Amazon decides. There may come a day when we don’t have sales rank data to depend on to make product purchases. If this happens, you now have some tools to help you make decisions in your buying.

So what about you? What do you do when you see a sales rank of zero? What are the methods you use to decide if a product is a quality resell item? I’d love to hear your thoughts!

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Sales rank is easily the most misunderstood aspect of selling on Amazon. What is a good sales rank? What does a sales rank of zero mean? What do I do with sales rank for sub-categories?

Why does sales rank have to be so confusing so much of the time?

I’m here to tell you it doesn’t have to be that way! You can finally get the clarity you need on the issue of understanding Amazon sales rank numbers. We at Full-Time FBA have launched a mini-course called The Reseller’s Guide to Sales Rank: Understanding Amazon Best Sellers Rank for Maximum Profits. The mini-course is a combination ebook (30+ pages) and video course (almost 2 hours). 

Check out The Reseller’s Guide to Sales Rank mini-course to see how you can master the concept of best sellers rank and be on your way toward smarter sourcing decisions for your Amazon FBA business!