Flipping used items that you find at garage sales, thrift stores, auctions, online marketplaces… is an easy way to make some extra cash. Easy, but quite time consuming.
Retail arbitrage is another option to “flip” products that you buy at retail stores ( or their online version ), and sell them on sites like eBay, Amazon, stocks.com and others.
You can even buy products at Amazon, and resell ( “flip” ) them on eBay, and vice versa.
The biggest advantages of retail arbitrage are time, product quality, and often profit margins.
While you can flip anything, in this post we’ll use ( Adidas ) sneakers as an example.
Why sneakers ?
Forbes estimates that the resale market for sneakers is estimated to be over $1 billion annually.
This is also trend that doesn’t appear to be slowing anytime soon. That same Forbes article notes that the international sneaker market is up 40% since 2004.
Even though only an estimated 4% of sneakers end up being purchased for immediate resale, the market has attracted side hustlers and entrepreneurs. At the top of the heap, some resellers are moving more than $2 million in inventory a year.
People are making astronomical amounts of money flipping shoes like Air Jordans, Yeezy and more. Don’t just take my word for it, Google “how to make money flipping sneakers”, and you’ll find tons of information !
Unfortunately, just like with anything about “how to make money”/”business opportunities”, most of that information is outdated, misleading, or straight up useless.
Here are a few practical ( and up to date 2019 ) tips about how to make money reselling sneakers :
- know which sneakers to buy/resell
- know the price ( and markup price ! )
- where to buy/sell
- how to spot fakes
- how to maintain your inventory
- how to scale up your sneaker reselling business
The market for sneakers is booming, driven by millennial demand and a strategic business approach by the major players. According to SportsOneSource, the international sneaker market has grown by more than 40% since 2004, to an estimated $55 billion.
But keep in mind !
Retail arbitrage is not as easy as it sounds !
While ANYBODY can flip a few products, it takes times, effort, and money to make consistant profitable living with retail arbitrage !
And while the knowledge of brands, and their products is important, the knowledge of business, and marketing is what will make all the difference !
Want to learn more about retail arbitrage flipping/reselling famous fitness, and outdoor brands, and their products ?
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