- POSTED: April 17, 2023
Fresh Imports
Our Amazon business is focused on selling products using a combination of FBA (Fulfillment by Amazon) and FBM (Fulfillment by Merchant) methods. The business uses a strategy known as online arbitrage and retail arbitrage to source and acquire products for resale on Amazon. Online arbitrage involves identifying products that are sold at a lower price on one online marketplace or retail website, and then reselling them on Amazon at a higher price. Retail arbitrage, on the other hand, involves visiting physical retail stores to find products that can be sold at a higher price on Amazon. We started by selling shoes but the return rate was too high. Eventually, we moved on to groceries because there were little to no returns. Groceries are also easier to source.
The Idea Bouncer:
- Luke Beveridge
- PARTNER: WashU Skandalaris Center
- PROGRAM: Parkway Spark!
- INDUSTRY: E-commerce
- NEEDS: Finance and Accounting, Investors, Legal Advice, Mentors, Operations and Management, Product Development