Hello! In this post, I’m going to give you a quick update on how the Shared VA Program is working. For those that don’t know what I’m referring to, then please read this blog post first.
Since joining on March 13, 2015, I purchased 23 products from the daily shared VA lists in quantities ranging from one to eight. All together, I ordered 70 items and spent $837.85. So far, I sold zero of these items and at this point, it’s due to the fact that my inventory either isn’t at Amazon or hasn’t been there very long:
- 23 items at Amazon – all received within the last seven days
- 15 items in transit to Amazon
- 12 items at my house
- 20 items in transit to my house
I have purchased and sent in other inventory items found outside of the VA list, but I’m not including those numbers in this post. The VA list does not replace what I’ve already been doing, but supplements it.
I’ve received several questions from my readers about increased competition with 50 people buying from the same list. At first, I wasn’t too concerned about it because I didn’t think that all 50 people would be buying the same products since there are over 40 items a week to chose from. But for my items that have reached the Amazon warehouses, here is what I’ve found:
- Item 1: Number of Sellers increased by 34 and the lowest FBA selling price dropped by $5.00.
- Item 2: Number of Sellers increased by 11 and the lowest FBA selling price dropped by $8.00.
- Item 3: Number of Sellers increased by 22 and the lowest FBA selling price dropped by $24.00.
- Item 4: Number of Sellers increased by 2 and the price is the same.
- Item 5: Number of Sellers increased by 10 and the price is the same.
- Item 6: Number of Sellers increased by 6 and the lowest FBA selling price dropped by $1.70.
Naturally, I don’t like the increased competition and lower prices for the first three items. But there is a risk of the same happening with anything you buy, whether you find the product through a shared list or on your own.
I don’t participate in the race to the bottom and if I have to wait longer for my inventory to sell, then so be it.
Will I Subscribe For a Second Month?
No. Though I originally committed to at least two months, I’m going to cancel before my second month renews. This has nothing to do with the quality of the program or because of the increase in competition. It’s more of a saving money on monthly fees decision.
A few days ago, I found another company called Primeresale that provides lists and I want to give them a shot. Their monthly plan is $50.00 less than Jessica’s. I did one of their $5.00 daily lists and ended up purchasing 2 products from the list. Because I purchased several of each, I ended up buying 9 items for a total of $54.55. On top of that, I found 2 more products on my own from the same website and spent $20.85 more.
I’m not saying that the Primeresale list is better or worse than Jessica’s. The list that I received had some of the same stores on Jessica’s Shared VA list and some that I’ve never heard of before. I know Jessica’s products have to meet a specific criteria to make it to the list and I’m not sure what the specific criteria is for the Primeresale list.
Their website advertises a minimum of 40% ROI but I don’t know if there is a minimum net profit. I like the net profit being $10 or more so that I can process less items and can drop the price by a few dollars if needed. Yesterday I planned on going back to my Primeresale list to analyze it further, but the download link no longer worked.
That is one difference – with Jessica’s list, you can still access the list from yesterday or the one from three weeks ago. With this one, it appears you can’t, but maybe you can if you go monthly. If Primeresale doesn’t provide access to older lists now, then I hope that they do so in the future. 5/15/15 Update: I’m currently on the monthly program and I can access my older lists easily.
Again, the reason why I’m switching is to save $50.00.
Thoughts on Using Lists
As a side note, at one time I felt that using lists was “cheating” and that if I used a list, I was saying that I didn’t know how to find products on my own. I now know that both of those statements are wrong. I read blogs and Facebook posts from other FBA Sellers and noticed that many successful Sellers use VA’s, employees or other types of helpers such as family and friends. There’s nothing wrong with outsourcing and getting help especially if it’ll save you time and help you grow your business.
I hope this post helps you decide if a shared list is for you. I’m not an affiliate for either program, so I gain nothing if you join or not.
As always, let me know if you have any questions in the comment form below or on my Facebook page.