We’ve all noticed a shift in shopping habits in recent years. Physical stores are being phased out, while some large chain stores are closing as a result of the rise of online shopping. People have become accustomed to shopping online since the pandemic began, simply because it is convenient! Thus, Amazon has expanded at breakneck speed.
If you’re thinking of starting a business or selling on Amazon, read on to discover what you need to know.
Growing a Profitable Business on Amazon
Amazon is a great place to begin for the following reasons:
Amazon is a well-known online retailer that acts like the largest marketplace on the Internet today. It is a place where people go to spend their money, and for sellers to sell their products.
● A One-Stop-Shop
One of the best aspects of selling on Amazon, or online in general, is the low overhead. You don’t need a physical location for your business because you can run it entirely from your computer.
● Innovate constantly.
There is a reason why Amazon is the world’s most successful online retailer. Amazon is always looking for new ways to provide value to its customers and to expand the opportunities for third-party sellers on its platform.
The Cost of Selling on Amazon
Starting an Amazon business is a low-cost endeavor. You can start selling on Amazon as a reseller by reselling a discounted item from a local store. Even if you choose to sell under your own brand, you can begin with as little as a few hundred dollars.
Selling on Amazon entails additional fees, such as:
● Fulfillment Charges
They are assessed on a per-order basis and are calculated based on the product’s size and weight.
● Storage Charges
These are also based on the product’s size and weight but are calculated per square foot rather than per unit. Furthermore, it has an impact on the price.
● Referral Charges
Referral commissions are calculated as a percentage of the sale price. Despite the fact that the majority of products charge a 15% referral fee, there are some exceptions and special circumstances.
The Basic Steps
Launching or establishing your brand on Amazon business is simple. Despite the fact that Amazon sellers come in all shapes and sizes, they all start with the same basic steps:
Step 1: Set up a seller account.
It is simple to sign up. A bank account and business information is all that is required.
Step 2: Create an Amazon listing.
Whether you’re starting from scratch or simply adding your offer to an existing one, this is the final step in registering inventory. If your products already exist on Amazon, you will want to list on those already created product listings.
Step 3: Ship to Fulfilment by Amazon (FBA).
Send all of your materials to Amazon and let them do the heavy lifting of fulfilling orders.
Step 4: Market your products.
It’s time to gain platform exposure and climb the rankings after you’ve listed your items for sale. PPC is the most efficient way to accomplish this. If you already have existing listings, you can run advertising to get more eyes on your products.
Amazon, like eCommerce, has become ingrained in many people’s daily lives. Now is an excellent time to start selling on Amazon, especially given how simple the process is. Amazon has provided financial assistance to thousands of people. Good luck as you venture into your new stream of income for your business!
Do you want to learn more about Amazon account optimization? Click Fluency is a full-service Amazon marketing firm that manages accounts for well-known companies. Work with us today!