GDP has actually grown-from a quarter to more than a World, middlemen’s contribution to the United States’ Betweenġ9, just as the Internet was transforming the Internet has generated a thriving new breed. If you’re worth your salt, you’reĪ Certifier, staking your reputation on the quality of the (as more than two million Americans are), you’re not Showing houses to your client, or a sales rep in any field The authoritative record of NPR’s programming is the audio record.If you’re a PowerSeller on eBay, or a real-estate agent This text may not be in its final form and may be updated or revised in the future. NPR transcripts are created on a rush deadline by an NPR contractor. Visit our website terms of use and permissions pages at for further information. Stacey Vanek Smith, NPR News.Ĭopyright © 2016 NPR. EBay says arbitrage is not against its rules. VANEK SMITH: Amazon didn't comment for the story. Like, why am I not doing that? We're the problem. JASON FEIFER: All I have to do is go to another website and see the price is different, and I don't. Jason says we don't want to take the time to click around and compare prices on different websites, and the arbitrageurs cash in on our laziness. He's less stressed, and he has only had two returns.īut most vendors won't take that hit, and online arbitrage is booming says Jason Feifer of Entrepreneur magazine. VANEK SMITH: Fred pulled the Ripple Rug off of the Amazon Prime marketplace in May. VANEK SMITH: You lost $10,000 in two months? RUCKEL: Made us have over 200 returns, which was over 10,000 in losses in just a couple of months.
They'd return the rug on Fred Ruckel's dime. EBay buyers would get their Ripple Rug delivered in an Amazon box, and they'd check Amazon and figure out that they'd paid $20 more than they had to. And Fred Ruckel was selling more Ripple Rugs because of the arbitrageurs. VANEK SMITH: Like advertising - Nikki says the ad she buys helps Amazon vendors sell more. WITHERSPOON: Not really, honestly - it does require some work. VANEK SMITH: Did you ever feel like we're not actually doing anything? You know what I mean? Like, you're not adding anything to the product. WITHERSPOON: And now it's really just a matter of pressing a button, and your store is kind of ran for you.
#The middleman economy software
She has software that finds arbitragable products on Amazon, copies the images and posts them to her eBay store. VANEK SMITH: Nikki Witherspoon doesn't sell the Ripple Rug, but she sells lots of other cat toys and household products on her eBay store. When they sold one, they would buy it from Fred Ruckel's Amazon store for a lower price, have it shipped directly to their customer and pocket the difference. But this was arbitrage with a twist because these eBay sellers never actually touched a Ripple Rug. That's when you buy something at one price, turn around and sell it somewhere else at another price. VANEK SMITH: Actually, the eBay sellers were right. And, you know - I'm not selling it illegally - and they hang up. RUCKEL: I am Fred from Snuggl圜at, the makers of the Ripple Rug, and I'm calling you about you selling our product illegally. Fred started calling the rug scalpers and telling them to stop. VANEK SMITH: Twenty dollars more than Fred was charging on Amazon.
RUCKEL: They were going as high as 59.99. VANEK SMITH: How much were they charging? And then every single day, there would be five more, six more, 10 more. RUCKEL: I just typed in the Ripple Rug on eBay, and there was already four sellers selling the Ripple Rug. But then, one day, Fred's brother-in-law called him and said someone else was selling Ripple Rugs on eBay. When the Ruckels put their product on the Amazon Prime marketplace, they sold $60,000 worth of rugs every month at 40 bucks each. But she did spend a lot of time crawling in and out of the holes in the Ripple Rug. It looks like a rumpled up carpet with holes cut in it.įRED RUCKEL: Well, she can introduce herself, but this is Yoda. STACEY VANEK SMITH, BYLINE: Fred Ruckel and his wife, Natasha, make the Ripple Rug. Here's Stacey Vanek Smith from our Planet Money podcast. Well, now it appears the middle man has elbowed his way into the online sales experience. One of the great promises of online shopping is its ability to keep prices down by cutting out the middleman.
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