What does it all mean? Explaining reseller words and abbreviations…
We get asked so often what words and abbreviations we use actually mean…
Sometimes we forget that those who are new to reselling may not know what a lot of the terms we use actually mean or refer to so I made this video to help explain a few of the more common ones…
FBA & MF
FBA stands for ‘Fulfilment by Amazon’ and is a way of selling through Amazon where Amazon store your stock in their warehouse and pick & pack your orders for you when your items sell.
MF refers to ‘Merchant Fulfilled’ which is the other way to sell through Amazon where you keep the stock with you and dispatch your orders yourself.
RA & OA
RA stands for ‘Retail Arbitrage’ and simply meand buying brand new stock from shops or supermarkets and selling it on for a profit.
OA stands for ‘Online Arbitrage’ and is basically the same as RA but the stock is bought from online sites rather than in traditional retail outlets.
GSP stands for ‘Global Shipping Programme’ and is ebay’s international fulfilment service, it is free to use as a seller and takes a lot of the hassle out of international selling.
In a nutshell if you have GSP enabled it means buyers from around the world can buy your items, but when you get an international order all you have to do is ship it within the UK to ebays GSP hub and ebay do the rest, ebay charge the buyer for the international leg of the journey and send the item by tracked and insured post 🙂
Stands for ‘Good Till Cancelled’ and is a way of listing a buy it now item on ebay which stays active untill it sells, if you list an item as GTC when it finishes it’s 30 day cycle it is automatically relisted by ebay and it continues to re-list until it sells, we tend to use this format for items we have multiples for, this way the listing stays active until all the items on the listing have sold.
Buy It Now
Is a listing format on ebay where you set your selling price so the buyer can purchase your item immediately at a set price rather than the traditional auction format.
Best Match Search
Is the default setting for ebay’s search engine results.
Is a function within ebay which you can add to a ‘buy it now’ style listing and it allows your buyers to make you an offer on your item which you cab choose to accept, decline or make a counter offer too.
Is a paid for service Amazon offer to their customers whereby they can get premium shipping discounts, next day delivery and exclusive offers etc
Camel & Keepa
These are Price and Sales Rank tracking sites for Amazon products – use the links below to take a look
Turnover & Net Profit
Turnover is the total amount of money coming through your business before costs are taken off wheras Net Profit, is the actual profit you have made after deducting your costs from your turnover.
Hope that was helpful in some way – Any further questions just drop us a message:)