Tuesday, July 12, 2016

Happy Prime Day Everyone!

Turnover Tuesdays will be postponed this week in honor of Prime Day.

As I'm sure everyone here is aware of, today is Amazon Prime Day.  A day when  we can snag some really great deals but you will likely have to move fast.

A couple of things I'm keeping in mind during Prime Day

For Buying:

  • If you still have Discover Doubling, you use your Discover card for 5% cashback which will turn into 10% cashback at the end of your 13th statement.  Make sure to activate the 5% category before purchasing as it doesn't work retroactively (Pro Tip: Chase Freedom 5% activation does work retroactively)
  • If you don't have Discover, consider buying gift cards from the MPX app.  You will earn 2x United miles and your credit card rewards (2.5x if you have the United CC).  You can also buy from Gyft using your Chase INK via PayPal to earn 5x ultimate rewards points
  • Please make your purchase through the link of your favorite blogger.  The money goes a long way psychologically, if not economically :) This assumes that you will not be earning a shopping portal bonus.  Amazon does offer some categories on shopping portals but not much.

Here is my link if you are so inclined.  I would be most grateful :)

For Selling:

  • Most likely, electronics will be the hot items today.  You can consider lowering your price to grab tons of sales.  Personally, I am raising my electronics prices.  I want all the cheap inventory out leaving me with little competition.  That being said, that is a huge risk so weigh your options carefully
  • Check your pending orders early and often.  If something is selling, you may need to raise prices dynamically to grab the most profit if it's still early in the day.

Here's hoping we crush it today!