Blog 004 – Amazon FBA Language

We are in the day and age where everything is done through smartphones. Text messaging is the new way of conversation. You know how busy we get where it just takes to much time to type out “got to go” and “talk to you later”. So before we dive too deep into selling in the world of Amazon FBA, we need to make sure we know the short hand and acronyms continuously used in the Amazon seller world.

Whether it’s in this blog, on Amazon, or on seller forums you can use this blog to go back and reference the different acronyms and abbreviations that you will stumble across. I have laid them out in alphabetical order and in a easy to read format. Let me know if you ever stumble across any others that I may have missed and ill add it. Let’s jump in to the Amazon FBA language!

A

ASIN – Amazon Standard Identification Number – Every product listed on Amazon is going to have an (ASIN) listed to it No matter what product page you are on you will see the ASIN towards the bottom. See pic below for location. This item in particular is for an umbrella. Each item will have its own ASIN and we will use this to help search products.Screen Shot 2017-06-27 at 7.20.46 PM

AMZ – Amazon – This is the standard abbreviation for Amazon.

ATOP – At Time of Posting – At times you will see me mention “ATOP” the reason for this will be that stats or pricing may be changing and you could be reading this days later where it may be different.

ACR – Average Customer Review – *See picture above* reviews are extremely important (I’ll blog around this to expound on).

B

BM – Brick and Mortar – Occasionally you will hear people getting ideas from different stores. Brick and Mortar is physical store you can visit that has walls (hence the brick and mortar) Ex: Target,Sears,Walmart…etc

BOLO – Be On The Look Out – We will be selling in bulk but you can also sell individual items around your house now that you have a professional seller account. Ill make sure to walk you through individual item selling. “Be on the look out” means that an item is selling really good and people are making profit on it. Ex: A Furby that is on clearance at a store but selling for a lot on Amazon…more on this later.

BSR – Best Seller Rank – ***This is important*** The BSR lets you know how well a product is selling. Scrolling up to the picture above again for reference it lets you know the rank in the primary category for the umbrella it is (sports and outdoors) and then also shows the subcategory rank which would be Umbrellas. Reviews and BSR are important when researching your product. I will make this a major focal point for us.

C

CCC – Camel Camel Camel – Funny name awesome site. Camel Camel Camel lets you see the pricing and rank history of items on Amazon. This helps give you an idea of how others have priced items and ranked. Ex: Somebody may be running a promotion on their item from a regular price of $19.99 to $9.99 to help bring in reviews. Running a promotion helps to jump your sales ranking but only during the promotional time frame.  Always check so you are on the same page with your pricing.

COGS – Cost of Goods Sold – When you are working with your supplier and doing your tax info at the end of the year this will be the price that you paid for your inventory.

CR – Customer Review – Pretty straightforward. Ex: I had 100 CR’s during the first couple months of my product.

E

EAN – European Article Number – I am including this for those that sell in Europe. The European network is slightly different then the US and will assign a 13 digit code to the products.

F

FBA – Fulfilled By Amazon – Why we are here!! We as sellers send our products to Amazon where they will pick, pack and ship our items to our customers. Amazon stores our items in a Amazon warehouse to hold our inventory until it is sold.

FB – Facebook – Most people should know this abbreviation but some may not. We will use Facebook to create a brand page of our product. The reason for doing will be to register our trademark so that others cannot sell on our page, you need a website or Facebook page to do this. (You may notice at times that an item may say “New and Used Starting at $x.xx) this mean other people are listing on your page. Not good and you will lose money. (This was a frustrating experience for me so ill make sure to explain in a separate post)

FNSKU – Fulfillment Network Stock Keeping Unit – On your products when they are delivered to the customer will have a sticker (looks like a barcode) that the Amazon warehouse picker used to scan your product before it was shipped. You will have a FNSKU registered to you to keep track of quantity and inventory.

H

HTF – Hard to Find – If you are selling individual items and they are highly sought after or in demand on Amazon you can increase the price.

I

ISBN – International Standard Book Number – ahh the good ol ISBN. Hated these initials since it reminds me of how much I spent on college text books. All books have them and lets you identify specific books. You can type it in Amazon and it will direct you to the book.

J

JungleScout – one of my favorite platforms. You can use this platform to see how much money people are making a month (rough estimate). Worth the money and helps tremendously with product research which is the trickiest part of all of this.

M

MOQ – Minimum Order Quantity – When you are looking for suppliers on Alibaba you will notice that suppliers have a certain minimum that you can order of a product. You can usually get this down though.

MF – Merchant Fulfilled – If you are not doing Amazon FBA then you are doing Merchant Fulfilled. This means that when somebody buys from your Amazon page you have to do the packing and shipping of the product. Best used when selling items around your house or something you found on clearance at the store.

MSRP – Manufactures Suggested Retail Price – The price that the manufacture suggests the product should be priced at. EX: TV MSRP at $999 Sale price $799.

O

OA – Online Arbitrage – When you find a product online and sell it on Amazon cause it is priced low but selling high on Amazon. A lot of people make good money from this (Ill make sure to right about this to touch base on it). Personally its a lot of work.

P

PM – Profit Margin – 

Q

Q1 – First Quarter of the Year – Ranges from January to March.

Q2 – Second Quarter of the Year – Ranges from April to June.

Q3 – Third Quarter of the Year – Ranges from July to September.

Q4 – Fourth Quarter of the Year – Ranges from October to December. Lets touch on this quarter for a minute. Sales are huge during this quarter!! HUGE!!! The obvious reasons behind this are Black Friday shopping and Christmas. You want to make sure you are stocked up on inventory during this time $$$$.

R

RA – Retail Arbitrage –  Similar to OA (Online Arbitrage) except you are going to physical stores (brick and mortar) to find cheap priced products or clearance items to sell high on Amazon. Once again people make good money on this but its a lot of leg work.

Replenish-able Item – Item that you can purchase again and again. Whether for regular price or sale price.

ROI – Return on Investment – What we always want to know! Its how much money you are making back on your investment. Ex: you spend $300 on products and sell it for $600 your ROI is $300 (money made).

S

SC – Seller Central – Our Dashboard that we will use for our Amazon Seller Account. This is the first thing that you will see once you log into your account.

Scouting – Looking for products at garage sales to sell or using Amazon to find product that you may be interested in selling.

U

UPC – Universal Product Code – A barcode that contains 12 digits. Almost every product contains them and its what you swipe at the grocery store when you go through the fast checkout. Simply typing in a UPC code will allow you to find the product on Amazon.

VA – Virtual Assistant – Assistants can be outsourced to help build your Amazon page or write the content for your product description.

 

As you are starting off in the Amazon world, I recommend bookmarking this page to quickly check an abbreviation, acronym or definition that you may not be familiar with. I will also use this page to include platforms and products I use down the road to help make the journey easier. As mentioned if there are any new Amazon FBA language terms that you have seen and I may have missed please leave a comment and i’ll get it added.

 

Warm Regards,

Cody

 

 

 

 

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