SOS 007 Follow Along As I Test 3 Lucky Products from Aliexpress & Ship Them To Amazon FBA for Fulfillment
Purpose of this exercise:
The idea of this exercise is to test 10-12 items a month for selling on Amazon FBA by purchasing similar ones to what you want to sell from Aliexpress to test. I then rely on the 80 20 rule which 80% of my income will be able to be produced from 20% of the products I test. Therefor by testing 10-12 products a month I should be able to find at least 2 winners on average. This exercise is to test these claims and help you learn about the process I currently use and am refining to do so.
My hypothesis is that by finding 2 to 3 new successful products a month I will be able to keep supplying my product streams based on demand to Amazon enabling me to eliminate products that have a higher demand and a less competitive market.
Based off my preliminary marketing research I have determined that each product is currently being sold on a regular basis by tracking the sales with AMZ Shark. I was also able to determine that there is a 1500+ searches being performed per month on each product. If my research proves correct I should be able to increase the odds of picking profitable and more favorable items.
Resources & Links:
SOS Product Testing Worksheet - Where I will be keeping track of my test product data so you can follow along.
AMZ Shark - For product sales research and tracking.
AliExpress - Buy similar products here that your interested in selling to test on Amazon FBA.
For this follow along we will call these products Product 1, Product 2, and so on and we will be tracking their numbers in my spreadsheet from this episode so you can see the progress as I test them.
As well I have started getting 2 new private label products setup we will call them product A and Product B which we will track as well on the same spreadsheet.
Since I have ordered my 10 products I have received 3 of the shipments from Aliexpress.
They all came in poly bags except for 1 which I will have to order some bags off amazon to put them in.
I have also ordered a nice high quality product stage to take better pictures then those I am seeing online. It can be found here.
While I wait for the rest of the products to come in I will start to work with the ones I have.
In order to start creating my listings so I can send my products to Amazon I will require purchasing barcodes which I usually buy from Barcodestalk.com. I know some people use Ebay but I like working with a reputable company that I can seem to count on if I have questions.
Before even using any barcodes I will make sure all of my products are listed on my spreadsheet so I can keep track of them as I process each one. Eventually we will be working with many products to diversify our channels of income so we can better decrease the risk of our investments if products sell slow or markets become more competitive over time.
I will normally track expenses, planned selling prices and a few other things which can be seen as I track my own products on the spreadsheet.
If our test products perform well on the market we will reorder more of the same product until we get our own product private labeled or just keep the stream of passive income coming in from our tes...