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The Amazing Seller Podcast - Business / Marketing

Practical tips and techniques for building a successful Amazon FBA and eCommerce business.
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Oct
31

TAS 275 : How to Liquidate Products to Get Your Cash BACK with Brad Kugler

1 week ago
More often than we’d like to admit our choice of a private label product was not the best choice we could have made. It’s either got too much competition or is not in a viable market to expect sufficient volume of sales. When that happens your sales can stall out or never get started at all. If you’ve done everything you can to get your listing optimized and jump start sales but still can’t get things moving, you may need to liquidate those products. On today’s episode of The Amazing Seller, Scott chats with Brad Kugler, who is an experienced liquidator both online and offline. Brad shares some amazingly generous tips on things you can do to sell your products and cut your losses. You won’t want to miss this one. What does it mean to liquidate your products? Anytime you run into a situation where your products are not selling as quickly or for as much as you had anticipated and you forecast that future sales will not be much different, you may be in a situation that requires that you liquidate your products, cut your losses, and move on to another product. Liquidating is the process of selling your products at the best price you can in order to recoup some of the money you’ve spent on the products so you can move on. Today’s episode features a professional liquidator, Brad Kugler. He’s got lots of tips to share about how you can do your own product liquidation quickly. Can you use eBay to get rid of products that aren’t selling? Brad Kugler says that one of the best tools that you can use to sell products that you want to get rid of is eBay. The platform seems to work very well for product liquidation and he has found that the buyers on eBay are very different from those who typically purchase through Amazon. Therefore you are able to get your products onto Ebay quickly, sell them faster, and get back the money you’ve invested so you can cut your losses and move on. On this episode Brad shares some tools you can use (most of them free) that will help you get your products on eBay and sold as quickly as possible. Is retail arbitrage success still possible on Amazon? One of the things Brad Kugler deals with often is the process of doing retail arbitrage. That’s because he often purchases bulk lots of items from stores or vendors that are liquidating and will resell those in whatever way he can. One of those ways is through retail arbitrage. When Scott discovered that Brad is familiar with the current state of retail arbitrage he asked what he thinks about the possibilities of successfully running a retail arbitrage business today. You might be surprised at what Brad has to say, so be sure you listen. Do you know about the Amazon Giveaways feature? One of the great Amazon tools that Brad Kruger recommends on this episode of The Amazing Seller is the “Amazon Giveaways” option. It’s a way that you can use the power of Amazon to promote products that you’re willing to giveaway to one winner. But all the other people who enter the contest receive a discount on the same product. This enables you to move a good number of units quickly because Amazon is the trusted source that’s promoting your contest. You’ve got to hear the tricks Brad has discovered to make the giveaway feature work for liquidations, so be sure you listen. OUTLINE OF THIS EPISODE OF THE AMAZING SELLER [0:03] Scott’s introduction to the podcast about product liquidation! [2:51] What’s the best way to eliminate the need to liquidate products? [8:31] What Brad has been doing in the liquidation space since 1997. [13:23] What Brad’s business does today and how he recommends you liquidate. [19:44] What does Brad do with inventory he purchases? [22:53] What Brad thinks about the possibilities of retail arbitrage. [26:48] Tips for retail arbitrage on eBay. [32:00] Taking advantage of the Amazon Giveaways feature. [39:06] Using Facebook Groups to help you get rid of products. [42:20] Scott’s summary of the conversation.
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