Welcome to my Monthly Stats post.
This business is so exciting I wanted to record it’s growth from the very beginning and share with you what’s possible!
Hence each month I’ll create a post to show my sales stats on Amazon and also do a quick profit & loss for you so you can see what actually ends up in our pockets!
Please note I will never reveal exactly what my products or branding are. Not because I’m precious about it, I’d much rather give you a warts and all account of my journey.
But the conversion rate of my listings pages on Amazon is paramount to my rankings and I don’t want to run the risk of people just ‘having a look’ as it could have a devastating effect on my sales. Something to bear in mind for your products also.
I had hoped that March was going to be a slam dunk month by way of sales, but unfortunately we spent the month fending off hijackers.
I’ll explain what that means in a second but first let’s look at the numbers;
Total Sales – $13968.50
Plus Total cost of stock carried forward – $4131
Total – $18099.50
Stock & Shipping – $4200
Promotional Expenses – $1900
FBA Fees – $3250
Marketing Costs – $770
Total Profit – $7979.50
OK so not a bad month considering we’re buying stock like crazy so as not to run out of inventory, so stock costs pretty high again this month.
Promotional expenses have calmed down a bit, although we continue to spike our sales with discounts and freebies.
So what’s this hijacking stuff all about then?
Unfortunately although our product is quite popular hence it’s selling pretty well off the bat, it’s also very common. This means that anyone who can source the same product can use our listing to sell their version of the same product.
So in other words we do all the work to increase our BSR (Best Seller Rank) and get more exposure on Amazon only for someone to pop in and list their product on our listing, sell theirs cheaper and get all our sales.
Unfortunately it’s not even a sneaky strategy, Amazon’s whole ethos is to have an open selling service and it works on driving prices down for consumers. There are even courses out their teaching people how to make money doing exactly this.
Now there are a multitude of ways you can get rid of hijackers which I won’t go into right now, but here’s a quick takeaway for you, the less unique your product the more chance others will try to hijack your listing. Just some food for thought.
The great thing about being hijacked this month is we now know what to do to ensure it doesn’t happen!
All in all a promising month and looking forward to April!
Thanks for reading and feel free to ask any questions below.