Very hard to believe, you'd have to be very naive to reveal your arbitrage like this.
28-year-old makes millions buying from Walmart, selling on Amazon
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Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#12Very curious on his profit margins here.
Considering an even 10% markup, you could easily do $5M+ and only clear 500k profit. Curious what the numbers that matter are like.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#13Title should read: 28 year old used to make millions buying from Walmart, selling on Amazon; because he certainly will have to live with competition and reduced margins from now on.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#14Nice to know that 28 is still considered a noteworthy age for things like this. It must be getting pretty close to the cutoff though. You don't often hear titles like "32 year old creates successful business"
Maybe the older ones keep their ideas to themselves?
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#15I did the numbers on some items, ikea on Amazon has a 50-75% margin increase on home/kitchen items.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#16I am surprised that there is so much margin. Is this because: 1. Amazon product delivery is so convenient that users don't mind paying little extra or 2. Walmart discounts products valuing their warehouse space more. Thus not realizing there was demand for the product elsewhere or at a different time. Seems like it would be simple for Walmart to figure out this arbitrage and shelve products for longer time. Any thoug…
I will occasionally search Amazon for things whose prices I know, like Trader Joe's items or something I bought at a local store. Sometimes Amazon sells it themselves, in which case the prices are reasonable. But often, somebody random will be selling it at a large markup. My theory is that plenty of people are not particularly price sensitive and just want the thing to appear. I'm stubborn enough (or cheap enough) t…
I have a similar feeling when I look at houses to buy online.
If I see the house was bought for 40%+ less just a few years ago, I refuse to give an offer. Even if the price seemed reasonable and it interests me. I refuse to reward people who bought low and want to flip it for much higher (if it increased reasonably, fine)
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#17I am surprised that there is so much margin. Is this because: 1. Amazon product delivery is so convenient that users don't mind paying little extra or 2. Walmart discounts products valuing their warehouse space more. Thus not realizing there was demand for the product elsewhere or at a different time. Seems like it would be simple for Walmart to figure out this arbitrage and shelve products for longer time. Any thoug…
The article mentions him buying clearance items.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#18Good for him, but I really wish for a better class of business journalism. He's been doing this 4 years, and never made more than $150k/year. So he definitely isn't somebody who "makes millions".
You're confusing the salary he pays himself with the success of the business.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#19There's a pure software arbitrage play as well, take for example, simple green which you can't buy from amazon direct but you can from a 3rd party reseller which ends up being a direct arbitrage from walmart.com.
Re: 28-year-old makes millions buying from Walmart, selling on Amazon
#20Very hard to believe, you'd have to be very naive to reveal your arbitrage like this.
It seems he is already moving on by entering the self help/motivational speaker industry.
> As his business is increasingly run by his team, Grant has reduced his salary down to $60,000 a year and now dedicates much of his time to getting that message out. He consults and teaches e-commerce classes through the same blog he has been using to track his performance.