For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
This was one of my biggest disappointments. I had found a great churn, but it blew up in flames around me. Here is my story:
The Item - Frozen (The Movie) Bed Sheets
Luckily for me, Amazon was selling the same sheets for around $70-$80! Not only that, they sold fast. All 20 I bought sold in a few days so I bought some more! I now had 20 new pairs of sheets ready to send into Amazon
Credit Card Points
I used Discover for 1% back (doubled to two percent in one year). That's $0.20 per item. Negligible right now.
I used Discover Deals for 5% cashback now and 5% cashback in one year. $1 per unit now. Not bad
Walmart has no loyalty points.
Fulfillment by Amazon Fees
Amazon charges a whopping $20 per item to fulfill. Shipping was another dollar. So my haul was about $50 per unit. Not bad when you are paying $20 a unit!
Total is ~$50 from the sales with ~$20 in fees total, for a total haul of $30.
That's a 150% return - that's amazing! Especially for something that sells fast and is repeatable. So I should send in my other ones, right?
Before I even knew what has happening, I kept having returns. More than 50% of the items were returned within 2 weeks, even before the new ones came in the mail! That's crazy. Then I started getting communications from buyers. When is my comforter coming? Then negative feedback. "This didn't come with a comforter like it said"
Comforter?! What comforter? This is a set of sheets. Enjoy your expensive sheets! Amazon accepted it under this listing!? What's going on?
It turns out that the listing says comforter in it and I didn't realize. The description of the item didn't say comforter (it has since been changed to include a comforter). The title definitely did say comforter though. I messed up big time.
I reached out to the buyers and offered refunds to all of them. Most have already returned. A pain but now I have a few negative feedback items that are worse. It was a waste of time and money. Very disappointing when you think you found your winner. I returned the other 20 to Walmart without a problem but what a disappointment!
So, bottom line: Check your listings carefully before buying!