The popularity of Amazon keeps growing, with no sign of slowing down. Many of us depend on Amazon and their two-day shipping and now more sellers are turning to Amazon to get their products out to consumers. Have you ever considered selling on Amazon? If so, this helpful infographic by Red Stag Fulfillment has everything that you need to know if you are interested in selling on Amazon.
One of the major benefits of selling on Amazon is that there are so many different options for sellers which is great. With more sellers in the marketplace, this also means steep competition. The infographic covers the details of everything that you need to know to compete successfully on Amazon; from the very first steps of selecting a product and a supplier all the way to post-order customer satisfaction and business expansion.
Once you have selected your product and service you will need to calculate your projected profit and revenue to make sure this business endeavour makes financial sense. There are many online tools that can help you track this easily. Amazon has made setting up your seller account relatively simple, it includes shipping settings, tax settings, amongst other settings.
Proper branding and product labelling are imperative. Your product title’s descriptiveness and length determine the amount of search hits you’ll receive from potential buyers, so the longer and more detailed, the better. Your product description should be clear and concise, use bullet points, and be accompanied by high-quality product photos.
Advertising on Amazon is more cost-effective than other pay per click methods of advertising, so it may be a viable option for you. In addition to gaining new customers, maintaining the happiness of current customers is vital to your listing and reputation as a seller. Make sure that you are communicating quickly and effectively with customers. You should be checking for orders daily to ensure that customers aren’t left waiting – Amazon is known for its speed and consumers will expect the same from you.
If your product return rate exceeds 8% then Amazon will discontinue your listing. You can avoid exorbitant returns by making sure that your product is accurately described and by communicating with your customers efficiently.
Amazon is a great platform for experienced and new sellers. They have many steps put in place that protect the seller as well as the consumer. Good luck with your Amazon endeavour! FBA profit calculator can help.