What is OA?
OA stands for Online Arbitrage, which is the practice of using the internet to search out market deficiencies, and capitalizing on the price difference. Books have been written on the subject, the most common one being Online Arbitrage: Sourcing Secrets for Buying Products Online to Resell for BIG PROFITS by Chris Green. It is a more advanced book, but many of the basic principles there will be introduced in the following videos. A great intro guide to the thoughts and tactics can be found here, written by Ken Szovati.
Why would I want to do it this way?
- Never leave the comfort of your home
- Comparison shop all over the country in seconds
- Find all applicable coupons and promo’s
- Receive product at your door in the very same boxes you can use to send to Amazon
- Save time, money, and energy from not driving from store to store
How do I start this?
I’m glad you asked!
Here are some fantastic videos well worth checking out.
Online Sourcing : My Morning Routine
Chrome and Extensions for Online Sourcing
Using The Tracktor for Online Sourcing
Why Checking Sales Rank While Online Sourcing is Important
Online Sourcing Using Keepa Online
Online Sourcing Morning Routine: Amazon Movers and Shakers
Online Sourcing – Another Way To Find Items
Online Selling: Using Keepa Charts 101
Too many videos to watch at once?
Well, if you just want to watch it all in practice, check out this one as Chris Wilkey goes through the entire process of searching out items live.
Live Deal Finding Session with FBA Master Chris Wilkey
Here are some easy tricks on how to lower your cost of goods sold, strictly using online tools.
Buy Low, Sell Low : Making Money on the Front End
Pretty solid process and strategy, easy to learn, harder to master. By following some of the steps here, it can be done and it can be mastered, and it will make you more profitable and successful in the long run.
Cheers.
Won’t everyone be competing for the same deals online? At least with retail arbitrage (or “local” arbitrage), you’re finding stuff that only those local, to your search area, are going to find.
In a way there is some truth to that, but at the same time , if you choose the right items based on rank/history/experience it becomes less relevant. I buy most things now with a hope they will sell in less than three weeks, for the most part. However, i, this is just for me and my opinion, i am comfortable and willing to accept they may not sell for 3 months. That is my period of “worst case scenario.” I am building a long term business, and less worried about most of the short term people who crash the prices. I’ve never had an issue when i just wait them out.
Yep, there’s no doubt that a lot of people are going to be heading for the same OA deals. That’s competition for you. But you can get just as creative with OA. Head in the opposite direction to the rest of the herd. If everyone is chasing Star Wars check out Battlestar Galactica. Steer away from all the bright, sexy, shiny stuff. Dive down the popular rabbit holes and then root around until you find stuff the crowd has overlooked. Combine it with RA. When you find some nice RA that moves see if you can source it online, cheaper or more convenient or both.