Arbitrage and the Mindset of the Masses

[cmor16]

Here is a link to an article about a hustler who raids the Walmart clearance aisle and resells on Amazon. I made the mistake of reading through the comments which immediately got my blood boiling. People left and right shitting on him for it, calling him a scammer and rip-off artist. All the while blaming the Canadian government, Wal-Mart and Amazon for letting it happen.

28-year-old's company makes millions buying from Walmart and selling on Amazon

 

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[MidwestLandlord]

My favorites are the one's saying that only lazy people buy from him, otherwise "they would be shopping the clearance aisle themselves".

As if convenience and saving time weren't a thing worthy of spending money on.

(it's amazing the lengths I'll go to never go to Wal-Mart!)

And

The one's saying this should be illegal.

Because we absolutely need more laws that restrict our freedoms, cost the taxpayers for enforcement, and further positions the government (any government) as our source of morality.

 

[TheodoreA]

Hey, let them think what they want to think. Just one less potential competitor, not our problem.

 

[Merging Left]

Haters gonna hate.

 

[LeoistheSun]

Love it!!

 

[LifestyleGem]

Haha, that's a nice hustle right there. Regarding the comment section, people are far too negative! Why are people upset? Shouldn't they try learning how to do it at their local walmart? Faulty logic...

 

[Raoul Duke]

http://www.onlinesellingexperiment.com/

 

[LeoistheSun]

Haha, that's a nice hustle right there. Regarding the comment section, people are far too negative! Why are people upset? Shouldn't they try learning how to do it at their local walmart? Faulty logic...

Maybe I should!!

Or somewhere else!

 

[LifestyleGem]

Maybe I should!!

Or somewhere else!

Go for it!

 

[LeoistheSun]

http://www.onlinesellingexperiment.com/

Sounds like he gave everything away for free...

Also if you were in a foreign country, stuff would be alot cheaper for sure!

 

[RogueInnovation]

People are just miffed cuz it seems simple and they wanna believe they could do it
It actually isn't as simple as he makes it look though
Btw this isn't new, people go into clothing store sales and buy a ton of good jeans for cheap then sell them
Its just a bit more of an agile way to sell certain goods
The fact hes making millions is pretty good though
He definately sniffed out a sweet spot

 

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[ZF Lee]

People are just miffed cuz it seems simple and they wanna believe they could do it
It actually isn't as simple as he makes it look though
Btw this isn't new, people go into clothing store sales and buy a ton of good jeans for cheap then sell them
Its just a bit more of an agile way to sell certain goods
The fact hes making millions is pretty good though
He definately sniffed out a sweet spot

I like the article!
It proves that unsold goods can still have a buyer somewhere else. And the guy found it!

Understandably, big stores might not sell everything even if they have a clearance sale. I found several mom and pop stores around my hometown, mostly clothes shops. They sold clothes which the bigger and more branded stores in the mega-cities or the capital might not be able to sell, and just transferred them over.

You can say this cuts down a lot of wastage of unsold goods, and allows some bucks to be earned too! Plus the main seller, and the lower distributor profit.

Yes, it IS a sweet spot.

But jeesh...the comments are REALLY negative. Pretty toxic...

 

[Thoelk]

I like the article!
But jeesh...the comments are REALLY negative. Pretty toxic...

As someone mentioned, probably out of jealousy. It "looks/sounds" so simple and they probably went like: "Why didn't I come up with that?".
But it's a great story. Hustling simply works. Making it a real system is a total different league, so props to him!

 

[G-Man]

http://www.onlinesellingexperiment.com/

Rep++ Thanks man. The comment about pricing was worth the 6 minutes it took to get there.

 

[RogueInnovation]

I see it like, he is an efficiency marvel.
Imagine him working for your store, and he sells off stuff online you are having to massively discount in store!!!
You'd be like "holy crap, nice work"

Somehow people are like "aw geez hes stealing profit margin from good old walmart"
Like, what? You want him employed working at 7 bucks an hour with that hustle?
He just sells it for market value, so no ones getting screwed or anything, I bet everyone is happy

This article has actually got my interest piqued in online sales
It seems like a true marketplace unlike you would find anywhere else
Truly truly fascinating

 

[cmor16]

People are just miffed cuz it seems simple and they wanna believe they could do it
It actually isn't as simple as he makes it look though
Btw this isn't new, people go into clothing store sales and buy a ton of good jeans for cheap then sell them

There were a few comments made along the lines of "The secret is out, now his business will suffer cause everyone will be doing this!"

1st, it is not a new concept.
2nd, a very small % of people who read the article would even attempt to do it.
3rd, of those that do, most would quit very early on in the game when they realize that there is actual work involved.

As long as he keeps hustling, he will be successful.

 

[RogueInnovation]

Yeah @cmor16 I totally agree, no one is going to bust their hump doing this
I checked out his blog, and it is all pretty straight forward stuff, he just uses the app to estimate profit margin, buy 6 of each product
Uses amazons fulfilment process, and sets prices basically at the lowest price others offer except maybe at a 1% markup
In one trip he might make a couple hundred dollars for a couple hours work
But it IS work and it does have complexities to it relative to what an average joe will be willing to handle by himself
And given the fact you have to shell out cash to buy inventory... like spending 16 000 dollars a month on inventory to get 9 000 in profit, most guys would get shakey knees. Not everyone is going to volunteer to do this, and thats assuming they even understand how to do it. I bet most people think you buy it at walmart and it magically sells itself somewhere with no risk involved. But before it sells itself you gotta set it up right and be on the ball about it, so most people couldn't do it.

The added genius was that he could scale it, and now he's set for life with his FU money
Fine fine work

 

[HIPPYOWL]

Yeah @cmor16 I totally agree, no one is going to bust their hump doing this
I checked out his blog, and it is all pretty straight forward stuff, he just uses the app to estimate profit margin, buy 6 of each product
Uses amazons fulfilment process, and sets prices basically at the lowest price others offer except maybe at a 1% markup
In one trip he might make a couple hundred dollars for a couple hours work
But it IS work and it does have complexities to it relative to what an average joe will be willing to handle by himself
And given the fact you have to shell out cash to buy inventory... like spending 16 000 dollars a month on inventory to get 9 000 in profit, most guys would get shakey knees. Not everyone is going to volunteer to do this, and thats assuming they even understand how to do it. I bet most people think you buy it at walmart and it magically sells itself somewhere with no risk involved. But before it sells itself you gotta set it up right and be on the ball about it, so most people couldn't do it.

The added genius was that he could scale it, and now he's set for life with his FU money
Fine fine work

I do this and its pretty much what you said. Its hard and can be complex with software, reading graphs.. but its easy once you have a system in place. Its not fastlane and is straight arbitrage and theres risk.

 

[luniac]

damn didn't expect the comments to be what they were.... what happen to just being happy for a fellow man who found a way out.
don't we all want the same thing? this guy isn't hurting anyone.

 

[ZF Lee]

damn didn't expect the comments to be what they were.... what happen to just being happy for a fellow man who found a way out.
don't we all want the same thing? this guy isn't hurting anyone.

 

[Mr.Brandtastic]

I made the mistake of reading through the comments which immediately got my blood boiling.

Consumer Mindset: Consume, consume, consume. It's all about me. I'm the only one that matters. The only thing I look for is price and nothing else. This guy is a scam artist hitting me right in the wallet. Wah! Wah! Government needs to stop this!

Producer Mindset: I'm about helping people get the products they need. The price I can charge is a tool, not what I base my selling in. Things like convenience and time-saving can be far more important than price. This guy is filling an unmet need and is doing a great hustle making big bucks. I hope he keeps moving along. I might try this if I don't already have a hustle going on.

 

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[TonyStark]

Haters gonna hate.