Our conversation revolved around the potential of Black Friday for resellers, the importance of being prepared, and the role of technology in facilitating our operations.
In this podcast episode, Kristin Ostrander and Stephen Smotherman discuss Black Friday strategies for resellers. They share their experiences and tips on how to make profits by flipping products. Kristin emphasizes the importance of preparation, pre-research, and understanding Amazon's guidelines for merchant fulfilling during the holiday season. The conversation provides valuable insights for resellers on how to maximize their profits during the Black Friday sales period.
The Art of Reselling and Black Friday Strategies
As we delved into the main topic, Kristin shared her journey as a reseller, particularly her experiences with Black Friday. She recounted stories of turning a few hours of shopping into significant profits, like buying discounted Razor scooters and reselling them.
Kristin also shared her insights on Amazon's changing policies, noting that the platform has become more flexible with their restrictions on merchant fulfillment during the holiday season. This, she believes, is due to the high demand from Prime customers and the increase in sellers on the platform.
Preparing for Black Friday: Tips and Tricks
When it comes to preparing for Black Friday, Kristin emphasized the importance of starting early and conducting pre-research to identify popular and trending products. She suggested visiting stores to scout for empty shelves and specific brands or end caps that are being focused on.
Kristin also highlighted the importance of paying attention to supply chain issues and looking for products that may be in shorter supply. She advised stocking up on these items and sourcing throughout the entire Black Friday week, as many sales are now happening earlier than the actual day.
The Significance of Black Friday
We also discussed the term "Black Friday" and its use throughout the year. Kristin believes that although the term may be used as a marketing buzzword, it actually magnifies the significance of the day for resellers.
Black Friday: A Serious Business Opportunity
Kristin emphasized that Black Friday is not just a hobby or side hustle, but a serious business opportunity. She compared it to preparing for a corporate presentation, highlighting the need for planning, sleep, and nutrition. She encouraged listeners to take Black Friday seriously and invest time in research, and signing up for email alerts and apps.
Combining Strategies for Success
Kristin added that being prepared and having a plan is crucial for success on Black Friday. She advised against wandering around aimlessly and encouraged listeners to share their Black Friday stories and feedback.
In conclusion, our conversation was a treasure trove of insights and strategies for resellers looking to maximize their profits during Black Friday. Whether you're a seasoned reseller or just starting out, there's a lot to learn from Kristin's experiences and expertise.
"When people are stealing a term from actual Black Friday and using it in April, that means it has an effect marketing-wise, and so they're saying it's like Black Friday in April, everyone's triggered by that, everybody knows that when you say Black Friday it is the best possible price you can get, am I right?" - Kristin Ostrander
Black Friday strategies for resellers (00:01:54)
Stephen introduces Kristin Ostrander as the guest and they discuss Black Friday strategies for resellers, including flipping products and making profits.
Merchant fulfillment on Amazon during the holiday season (00:07:52)
Stephen asks Kristin about her approach to selling items on Amazon during Black Friday, specifically whether she uses FBA or merchant fulfillment. Kristin explains that she has used both methods and shares her experience with merchant fulfilling during the holiday season.
Black Friday Sourcing Strategies (00:11:29)
Kristin discusses her strategies for sourcing products during Black Friday, including starting early, scouting stores, and researching trends and hot products.
The Power of Black Friday (00:14:05)
The speakers discuss the significance of the term "Black Friday" and how it is used throughout the year, emphasizing that it still holds power as a marketing buzzword and offers the best prices.
Balancing FBA and Merchant Fulfilled (00:17:13)
Kristin advises resellers to have a strategy that balances both FBA and merchant fulfillment during the holiday season, as there may be delays in FBA check-ins and the option of merchant fulfillment can be beneficial.
00:24:00 - Topic: Enjoying the Process and Feedback
Kristin emphasizes the importance of planning and enjoying the process of reselling on Black Friday. They encourage listeners to share their feedback and success stories after the event.
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