Tuesday, December 8, 2015

Turnover Tuesdays - Check Your Listings Carefully - My Big Fail!

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.

Shopping Portal

I used Discover Deals for 5% cashback now and 5% cashback in one year.   $1 per unit now.  Not bad

Loyalty Points

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!

The Haul  

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?

Trouble Brewing 

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!