Have you noticed that the same product can be found at different prices in different retail stores and online shopping sites? There are plenty of ways in which people make profits from this difference in the prices and this is what online arbitrage is all about. There are some who choose to buy products at the lowest price they can find and then sell it on a reputed shopping platform with a little profit margin. The profit you make for one sale might be small but when you choose to start this as a part-time profession you can easily make a lot of money sitting at home and doing something that most people do for their pastime – shopping!
Do all the research you can
The research should not just be about the pricing of the product but also the demand for the product. To begin with, shortlisting the type of products you would be focusing on. There are some products that can be purchased with a small budget but sold more frequently and there is other high budget purchase that might happen occasionally. Take the case of simple home products to say cleaning supplies or the regular use products like beauty products. These are purchased by customers on a regular basis irrespective of their pricing. So there is an assurance that your product would get sold pretty fast. In such cases even if you set the profit margin as a low value you can make frequent small profits. If you choose to sell a bigger item or a more expensive product like a smartphone or laptop you might need to find the best products in the category. This would help you carefully set a huge price margin and make a big profit in just one sale. Finally, once you have made this big decision find a trusted source from which you would be buying the products to sell on a bigger platform like Amazon.