can you make money selling on amazon

can you make money selling on amazon

Big international brands that charged high premiums had an approximately thirty-percent profit margin, but local brands’ profit margins were only about ten percent.

That meant if Pei Qian wanted to produce cell phones, he could not have a profit margin of more than thirty percent.

In fact, Pei Qian wanted to minimize his profit margin as much as possible.

That was because the high-end market would only target ballers. Pei Qian had already learned from his experience with the Red Kilin. Ballers would be happy to spend eight thousand yuan. Spending five hundred or a thousand yuan more would not mean anything to them.

In other words…

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If they failed to sell their cell phones, their price would not matter. Boss Pei would still incur losses.

However, if they managed to sell a few cell phones, the higher Pei Qian priced them; the less loss he would incur.

Thus, setting a lower price would ensure he minimized any profit he could earn. Even if they did manage to sell some cell phones, Pei Qian would not earn much. He would still be able to incur overall losses.

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Then, he would invest a huge sum of money in producing hundreds of stocks to be stored in the warehouses. If nobody bought them, he would keep lowering their prices. He would be happily incurring losses then, right?

Pei Qian smiled confidently and said to Chang You, “If we increase our cell phones’ added value, it would be akin to charging an IQ tax. How can we do that? It’s despicable behavior!

“We have to spend as much as we can on the hardware and technology!

“As for profit margins, I think five percent is good enough. We’ll fight for more sales first.”