Deciding what to sell on Amazon can be daunting. Yet it’s the veryfirst step in setting up a profitable FBA business.
That’s why in this article, you’ll learn how to brainstorm product ideas, verify demand for those products and then analyze the competition. Your goal is to find at least one private label product idea you’re willing to move forward with by the end.
Knowing how to sell on Amazon gives you a key tool for financial security and freedom. It enables you to reach an ever-expanding market of hungry buyers, and offer them what they’re looking for… wallet out and ready to buy.
It’s not a walk in the park. Yet it’s also not the most difficult thing in the world. Millions of Amazon sellers worldwide have succeeded, and you can too.
This article is designed to show you what it takes to sell on Amazon. When you finish it, you will know three things:
Whether or not selling on Amazon is for you
How to start off on the right foot so you don’t waste precious time and resources
What successful sellers already know that you probably don’t
Many US and international based Amazon sellers rely on Chinese manufacturing. But not all manufacturers are equal. And if you have a great supplier, it can be a leg up on your competition. Hence more sellers are becoming aware the benefit of using sourcing services to find top suppliers.
We spoke to Christian Potts, CEO of Tao Consultants — a sourcing consultancy based in Shenzhen — to get his views on the state of sourcing in China. Christian has a wealth of experience with 5 years of experience in China helping both start ups and large organisations with their sourcing needs. In this article, you’ll learn how to find the right sourcing agent for your Amazon business.
Getting your pricing strategy right is one of the most important parts of selling on Amazon where prices are changing constantly. There are two ways you can manage your prices on Amazon — manually or automatically using a repricer.
The latter is suitable if you’re a casual seller with a small number of SKUs or don’t mind dedicating hours of your week checking your competition and manually updating your prices. However, if you’re a serious seller, moving to an automated repricing software to keep your prices competitive is a smart move.
On April 17-19 Global Sources held a 3 day online seller conference at the Asia World Expo in Hong Kong. The event brought together online and Amazon sellers together to learn from a wide range of speakers to help grow their eCommerce businesses. The event featured over 20 speakers covering a range of topics from sourcing, quality control, logistics to diversifying your business outside of Amazon and selling your business. Over 100 people attended from all over the world ranging from those just getting started to veteran Amazon sellers.
To those who couldn’t make it out to Hong Kong, not to worry they will be holding another summit in October. But in the meantime, here is a recap of all the talks along with key takeaways from each of the speakers.
Nowadays, with the Amazon marketplace getting very competitive, it is more important than ever to build a brand. Building a brand starts with picking the right name. You do not want to pick a brand name that is already in use or even trademarked.
Customers love great products. If you are able to create a positive customer experience, your customers will start associating your brand with quality. This will result in generating more sales. Especially when you start selling more products in the same niche. Also, a high-perceived brand value will make your listing stand out among the competition. Even if they sell the exact same private label product as you!
Two major changes have affected book sellers on Amazon since March:
Sellers could set their own shipping price.
Fees increased from $1.50 to $1.80 per item. Plus, instead of calculating 15% off the item price it’s now 15% of the sales price plus shipping.
Marketplace Pulse looked at the feedback received by book sellers on both Amazon and eBay to see how this changed over time.
While the site acknowledges feedback is not the same as sales, it can provide an indication. After Amazon implemented the changes on March 1, the site saw a 25% decrease in book seller feedback.
On the flip side, eBay book seller feedback increased by 15%.
With increases in selling fees and higher risk not selling due to high storage fees, sellers should shift their focus on other items. Physical books have become much less profitable than they used to be.
But thankfully you have a wide range of products to choose from now as a seller.
Sharing your brand story and educating customers about your products are powerful way to differentiate yourself in today’s cluttered marketplace. Human beings desire the emotional connection derived from a good story.
As the entrepreneur and author Seth Godin would say “Marketing is no longer about stuff you make, but the stories you tell.”
Enhanced Brand Content (let’s call it EBC) recently opened to third party brand sellers at no additional cost and is a useful tool to share your brand story.
Now, you are able to engage 10x better with your customers and provide them with more helpful information before they make a purchase. This will result in increased product sales while you build a recognizable brand on Amazon.