Young student Su Ngoc Duy On the road to success with e-commerce in the middle of the epidemic season.
E-commerce is a growing industry today, Duy works mainly on foreign e-commerce sites such as Ebay, Amazon. Due to working in a new and potential field, Duy has encountered some difficulties and inadequacies about his setup.
And this is how he made his first income???
For many video game enthusiasts, the shortage of consoles over the past 12 months has not been pleasant. However, for the sophomore, it turned out to be a great bargain.
He buys and resells dozens of the latest PlayStation and Xbox consoles for $1,100 - more than double the $500 list price.
By doing the same with some goods that were scarce during the pandemic, such as garden heaters or Pokémon trading cards, Duy raked in a profit of $110,000 on revenue of $1.7 million in 2020. is expecting to do even better in 2021 because the market for game consoles and other electronic products are still very volatile.
Opportunities from Covid-19
The global pandemic has disrupted supply chains, causing shortages of everything from common products like ketchup to electronic chips. The lack of supply caused the resale market to boil. more active than ever, creating opportunities for people like Duy to make money by reselling scarce items on e-commerce sites like Amazon, eBay,...
Many have even established their own companies in the resale industry. These people don't hesitate to join online groups (paid) to share business tips with each other.
Unnecessary resale is in most cases legal, although many retailers are often upset with resellers because the price difference can cause friction with consumers.
Take care of everything yourself
Duy spends about 40 hours a week processing orders, managing inventory, spending two employees, and crunching numbers.
In addition, this student still spends time studying from his home office. Duy also chats with other resellers and follows business and political news to spot new consumer trends.
Duy shared that he sells most of his products at double the price. In the beginning, he hardly needed to use any tactics to do business. The high school student simply ordered 10 consoles from Target (a large US retailer) with his own savings and resold them.
"It's basic knowledge everyone knows but most people don't care about it," Duy said.
When the supply of game consoles began to become scarcer in November 2020, Duy started joining online resale communities to find potential customers.
For a monthly fee of $20-100, he learns many tips on how to source scarce supplies and how to automate online purchases. This saves Duy from having to spend hours at his computer waiting for items to be sold.
The real breakthrough came for Duy in 2019, when he started reselling high-end sneakers. Duy's business currently operates as a limited liability company and taxes under the name Duy Tech Store.
"If you are passionate about business, then boldly pursue it. The stumbling blocks are valuable lessons for you. If you love the field of e-commerce, join now because this is the promised land of the newcomers. young people. I have succeeded and you can too", Su Ngoc Duy transfer.
