Method #1 Overview
Now let’s get started with method number one. There are two specific facts about method number one you need to fully understand before we start.
Fact number one is that more than 80% of Amazon customers only buy Prime eligible products, that is those products with a little Prime symbol beside them.
You can see the symbol on the above screenshot, right? So 80% of customers only buy a product if it has that little Prime logo. Another way to say that is…
… 80% of Amazon customers have never purchased a non-prime offers. So a giant majority of Amazon customers will not buy unless it’s got that little prime logo.
You or someone close are probably prime members. Whether you’re international or not, what that basically means is you’re signed up to a service with Amazon that allows you to get a lot of perks like free 2 day shipping, and a lot of different potential perks.
In fact, I know a lot of people who are probably like me in the sense that they’ve got the prime filter on, which means they only see prime products.
With prime filter on, you don’t even see anything other than prime. So that’s fact number one. Vast majority have to see that little prime symbol to actually buy.
Method #2 Overview
Fact number two is…
… Amazon customers are willing to pay much more when they see that little prime symbol.
So that’s really important to know. Most people won’t buy unless they see prime, and if they do, they’re willing to pay much more when they do see it. Okay, those are the two really important facts.
How Do Products Get that Little Prime Symbol?
Now the next piece that you need to understand is how do products get that little symbol beside them? It comes down to really where that product is.
There are two different places where it could be: it may be at an Amazon warehouse and it gets that little symbol, or it may not be at an Amazon warehouse and it doesn’t get that little symbol.
That’s the main differentiation between how an offer gets that little Prime logo and how it doesn’t. We call it FBA or Fulfilled by Amazon when it has the little prime logo. So anytime Amazon is fulfilling the product, it’s going to get that logo.
Again, that means the product is in Amazon’s warehouse. If it’s not, we call it MF or FBM or Fulfilled by Merchant. And that means the product is being shipped from the seller right from their house or their business center or their own warehouse, or wherever.
So the two facts – nearly all Amazon customers only buy prime if they see that little symbol, and they’re willing to pay a lot more if they do see that little symbol.
How We Generate Profits
Here’s how we generates profit for ourselves. The above two facts create a perfect profit storm for us. Here’s how…
All we have to do is buy products that don’t have that little Prime symbol and turn them into products that have the little Prime symbol.
…This is because we can buy those really low-priced products that don’t have the Prime symbol and we can sell for much higher by turning them into products that have the little Prime symbol.
A Specific Example of How to Sell Used Books on Amazon
Let me show you a specific example of this, and I think it’s going to be really clear. You may have to click on the “See All Buying Options” button on Amazon to see something similar to the screenshot below.
In the above screenshot, there’s a textbook. We’re going to focus on textbooks. And you’ll see why we focus on textbooks. You can buy it prime for $174 as you can see.
If you’re a typical customer, you’re focused on prime, so you can buy it for $174 okay, that sounds great. Right? Again, textbooks, as you know, are really expensive. If you’ve been to college, you know how expensive these are.
However, if you uncheck the Prime box and look at the non-prime offers you start to see this:
You can now buy this book for $7 plus $4 shipping. So about USD11 and 52 cents is what we can actually buy this book for without the prime symbol.
So here’s what we’re going to do. We are going to buy this book, non-prime for $11.52 cents. Once we get that book, we will then ship it to an Amazon warehouse and sell it FBA. This is called book flipping or arbitrage.
Remember what happens once Amazon gets it?
We can sell it (or flip it) for that prime price at $174.
Now that we’ve taken this textbook, turned it from non-prime to prime and taking advantage of that, and after all Amazon fees are paid, we’re done for this particular book. We can make $130 profit.
So here’s the basic concept of method one and we’ll really dig into this. Okay, we’re going to buy a non-prime (non FBA) textbook for this particular example for a low price. Very few people see this and do this method.
This is what people like Sue are doing.
She’s already done over $50,000 she doing this part time and she’s got an amazing story. Her husband has been in the hospital for several months and she has been doing this at the hospital earning money and she’s done over $50,000 flipping books like this.
Screenshot of Sales We’ve Made
Let me show you some sales that we’ve made.
As you can see in the above screenshot, people have paid for these textbooks and they got good deals on them. I mean, these are just really expensive books when you’re in college and graduate school.
It’s very common to see high priced books like this and to be able to sell books of that price. That’s just what college textbooks cost. So it doesn’t take very long when you’re selling books at that high of a profit and that high of a dollar figure to get the results.
Like Matthew’s done in the screenshot below:
You can see he’s done over $75,000 actually, he’s at $100,000 now. Matthew has kids. He coaches people sports and you can see here he said, he’s tried many different opportunities over the years, there hasn’t been one that’s been this much fun.