Black Friday and Cyber Monday sourcing checklist

A sale is a good time to find stock and a bad time to make up your mind. A short list you wrote beforehand does the deciding for you when a countdown timer is running. Nothing here promises a profit. It is a way to avoid the common mistakes.

Before the sales start

• Write down your rules. A minimum profit in dollars, a minimum return on cost, or both. Put them where you can see them.
• Pick a short list of products you already know how to sell, and note what each has sold for lately. Use sold prices, not asking prices (see asking price vs sold price).
• Work out a maximum buy price for each one with the maximum buy price calculator, so a discount is measured against your number and not against a crossed-out price.
• Set a total budget for the weekend and a limit per item, and keep to both.
• Check your supplies and storage. Stock that arrives to a full shelf costs you time you did not plan for.
• Read the return policy of any store you plan to buy from. A short window or a restocking fee changes what a deal is worth.

While you are buying

• Compare the total, not the tag: item price plus shipping and any tax or fees at checkout. The guide to total cost has a worked example.
• Check the exact model, size, colour and pack count. Near-identical listings can resell for very different prices.
• If you are scanning barcodes, a mistyped number finds the wrong product. Use the check digit checker on any number you typed by hand.
• Look for limits on quantity per customer, and for anything that is a bundle you cannot split.
• Keep a note of what you bought, what you paid in total and the order number. You will need it for returns and for your records.
• Walk away from anything above your maximum. Another sale will come, and a rushed purchase above your number is a loss you chose.

After the sales weekend

• Check each delivery against the order as it arrives, and photograph damage straight away.
• Note the return deadline for each order, because many extend over the holidays and some do not.
• List what you can, using real fees and real shipping. The resale profit calculator shows profit and return on cost for the price you set.
• Review what worked. Which items met your rules, and which tempted you past them?

Questions people ask

Is everything on sale a good deal for a reseller?

No. A discount from a list price tells you nothing about what the item resells for. Only your maximum buy price tells you if a price works for you.

How much should I buy?

That depends on your budget and on how fast you can sell. Buying more than you can list and ship is a common way to tie up money. Decide a cap before the weekend, not during it.

Next, read how to set a max buy price before the sales weekend.