Amazon is one of the biggest online platforms there is. That means, if you have to sell something and you’re selling it online, not being on Amazon would make you lose half your potential market. That is why being on Amazon is a must. This is how you get started.
Get set up on Seller Central
If you are starting selling on Amazon, you need to create an Amazon Sellers account. There are over 20 categories for you to choose from, and another 10 which are exclusively for Professional Sellers.
If you want to list products in these particular categories, you will need special approval from Amazon, and it is not an easy process.
What to Sell
Once you’re all set up on Amazon, you need to decide on what to sell. If you are selling other brands’ products, you need to decide which products need to be listed on your Amazon store. There are certain things that you need to consider:
1. The cost of the products: You should always pick a product that is cheap. Choose something relevant and easy to invest in, without any huge financial investment.
2. Amazon sales rank: Every product that is sold on Amazon has a sales rank. Products from the same category are ranked and if they have a lower sales rank, it means that the product has a higher chance of selling and better sales. That product will take less time to sell.
3. Pricing competition on Amazon: Being a new seller, you have a risk of getting sacked under other products on Amazon that have been there for a long term. That is why you need to consider the price that other sellers are listing your potential new product at. If other sellers will list the product at the price lower than its SRP, then you won’t be able to make any sales.
You should always be aware of the listing prices of other sellers because you don’t want to get into any price wars with experienced sellers, it will only be harmful to you as they know their tricks. It will lead you into dropping your prices so low that you won’t be able to make any profits.
4. Low prices and free shipping: Since pricing wars with other sellers is strictly a no, you are allowed to set your product at the lowest price possible, at least in the start. Losing a little money, in the beginning, is okay because with low prices come, customers, which will give you the sales amount that you actually need in order to grow on Amazon. If your prices are low, you will be able to get into the Amazon “Buy Box,” which will increase your sales. You can also offer free shipping.
You must build customer trust and remain a sustainable long-term brand on Amazon. In order to do this, you must keep your prices stable. The only reason you should change your prices on your Amazon products would be any two of these following reasons.
- To increase your sales rank
- Cross-selling your products
By feedback, we mean that you get the feedback for your actual Amazon store, and not just for your products. When people are shopping on Amazon, they should know that you are a trustworthy seller. The best way to get that is by having reviews from other buyers that say so. Having feedback from past customers can help new customers believe in your product. There are services which automatically send an email to your customers and asks them to share their feedback for your Amazon store. Since you won’t get this feedback very easily, there is a reason why you need to up your sales volume, as the more sales you make, the more feedback you get. The moment you start getting reviews for your store, you will see the change in the sales volume.