What began as a purchase on eBay, continued as an arbitrage hobby turned business for Ed Kohler. Ed is the person behind, Fit The Matrix, an online store specializing in a variety of products.
Ed began selling FitbitⓇ chargers on eBay in December of 2013. Like many sellers, Ed began to familiarize himself with different marketplaces and scaled back on eBay to sell more on Amazon due to lower customer service demands.
As a hobby seller, Ed made an impressive $364,000 in sales during 2014. He does most of his sourcing online and sells 1,000 unique items. “I go for more diversity so I’m not dependent on a product or supplier. I go for major retailers’ toys, health, beauty items and consumer electronics.”
Through his own research and time spent perfecting his selling craft, over time Ed found that many sellers are selling the wrong products for their business. With this in mind, he formulated his strategies to ensure he was selling the right products for his store. “I look at what I’m doing as a math problem. I found my niche sourcing items in clearance sections.” Ed saw a Q4 growth that stemmed from the diversity of the products he’d been selling. “Product diversity is great, since any product will only sell so often per day, but it also creates new challenges.”
Ed started to increase the volume of his products and could no longer individually reprice his listings. Coming from an IT background, he figured there must exist a software focused on automatic repricing.
Ed heard about Informed.co in a podcast and it became obvious that it was what he needed.
“When I hear people are not into repricing, it seems to me that they aren’t comfortable with technology. Technology isn’t bad, but you need to use it correctly. As soon as I turned on Informed.co, within 24 hours, it impacted my sales in a positive way.”
Ed’s tactic is to keep his inventory moving.
“Informed.co is a pretty important piece of the puzzle.”
Just as Informed.co worked for Ed, it can work for any marketplace seller looking to simplify their selling process and increase their sales.