Today I’ve decided to try something new here on my blog. Beginning with this post, assuming there is enough positive feedback, I’m going to publish a short income report that will show this week’s income, vs the prior week, along with a list of the changes that I made.
My goal in producing these short reports is twofold:
- I want to give greater transparency into the week to week goings on “behind the curtain” of my Amazon business
- I want to create an eCommerce journal for my own future reference and I figured this was a pretty easy way to do it
If you find value in this report or you have questions, please be sure and head over to the Facebook post for this week’s report and share your comment or question.
Income Report for July 18 – 24, 2016
As you can see below, sales for the week totaled $1850.97 with a loss of ($230.34). The reason for the loss was that I invested heavily in PPC leading up to last Tuesday, at which point, I reduced my bids from $3/click down to $2.50. The prior week was mildly profitable, largely because I wasn’t as aggressive with my PPC spend.
Significant Activities This Week Included:
First Wholesale Product: I launched my first wholesale product and we made 4 sales. This is not private label product and it I had it up for sale within a week of my initial contact with the supplier.
Listing Suspension: Our primary product’s product listing got suspended by Amazon, thanks to a competitor telling Amazon that we’d ripped off their main image. The crazy thing is that even though we didn’t steal their image, all they had to do was tell Amazon we did and Amazon suspended our listing. Be warned!
No Lightning Deal: As you can see below, the week of July 4th was one where we had 3 Lightning Deals active. As you can see, these special promotions have a dramatic impact on revenue and profits!
Flagship Private Label Product Advertising Investment Summary
Our flagship private label product has massive demand and I’m investing heavily in PPC to see if we can get ranked high enough organically to make the product a profitable part of our product portfolio. So that I (and you) have a record of this experience, I’m going to keep track of it here in the weekly income report.
About the product: It’s in pet supplies, and the top seller’s sales volume is over $100,000 a month.
So far, our investment in inventory totals $6,975 and we have purchased 1,500 units.
In each week’s report, I’m going to include an ongoing summary of:
- Total investment in inventory
- Total revenue
- Total investment in PPC
- Progress in Best Seller Rank
- Profit (and loss) report
Below is this week’s report card. As you can see, the reduction in my PPC spend decrease revenue, which in turn, had a drastically negative impact on BSR.
Planned Actions for the Coming Week
In the week ahead, I’m going to:
- Continue to offer promotions to increase the number of reviews
- Get new pictures
- Increase my PPC bid to $2.75 from $2.50
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