Amazon has made it straightforward for businesses, that is, to sell their products with ease and convenience. Moreover, sellers will also access millions of online consumers’ needs and wants.
In 2020, Amazon forecasted a 45% increase in third-party sellers worldwide who started selling on Amazon in 2019. In the United States of America, 30,000 business storefronts have established 2.5 million products.
What’s more salient apart from these statistical rises was that, in 2022 alone, there’s a surge in eCommerce sales by over 30%. SMSE’s sold more than 3.4 billion products in Amazon stores.
The numbers are only getting higher and higher. So if you’re passionate about starting your own business, you must start early.
In this article, you will learn:
This article will give you a step-by-step guide on how to start your business on Amazon. Also, we’ll help you assess if Amazon is the right fit for you and give you basic tips to start your Amazon business the right way!
In 2021, data journalist Daniele Palumbo of BBC reported that Amazon’s trajectory is only rising considering new feature innovations and newly inducted CEO Andy Jassy. Amazon’s continuous growth benefits sellers furthermore.
Like any other business venture, eCommerce has its advantages and challenges. So before starting your Amazon business, you must get an idea of them to assess and make informed decisions.
You have eight perks of building an eCommerce. These are as follows:
Any business comes with challenges that might be a huge consideration for a business owner. While doing e-commerce has more perks than challenges, it’s crucial to look into these challenges as this might hold huge factors for you towards building e-commerce.
Starting your business on Amazon is now easier and faster. Amazon’s interface is friendly to sellers and, more importantly, to customers. That’s fair, considering Amazon is the world’s top online marketplace with 5.2 billion visits per month.
Now, if you’re ready to jump into the Amazon marketplace, here’s how you can set up your Amazon seller account:
First, you will need a seller account to enter the Amazon marketplace as a seller. When setting up your Amazon seller account, you have a few things to consider. You can either set up your account immediately or wait until you have a product picked.
However, you should set up your account as soon as possible because you will require certain production information found only in Seller Central (such as Amazon barcodes for your manufacturers to use).
The process of creating an Amazon Seller Account is simple. You just have to follow these two essential steps:
Amazon offers two plans available: Individual and Professional.
Amazon Seller Account’s registration process is direct. You need to input the necessary information in each step. You may be asked for the following details:
The first obstacle you’ll face when launching an Amazon business is deciding on your first product to launch. There is an endless number to pick from, but only a few have the earning potential to make the enterprise viable.
As an e-commerce seller, you should know your products in depth. Product information is beneficial when building your listing and communicating with customers.
You must consider products that are easy to ship across borders and have a lasting shelf life. But, of course, marketing potential and the competitive price are crucial considerations too!
You might want to avoid perishable items. Due to geographical and timing constraints, some items are difficult to sell online. Complex and costly-to-ship items should be a lower priority since these items will be difficult to transport.
Figuring out what product to sell is merely the first step. The next step would be determining where to obtain this product sustainably and how you fulfill orders.
One of the very challenging parts is finding trustworthy suppliers. Only when you’ve determined the source of your items will you be able to decide on how much you’ll need to invest.
There are three familiar sources where you can get your products from:
Supply chain management is crucial for your business. Frequently, it is hard to find suppliers that keep up with the pace of your business. However, demands are met through providing supply; this should be top of your priority.
Seller Interactive’s Wholesale Partnership Program alleviates the difficulties of selling on Amazon by acting as your brand’s third-party re-seller on the world’s largest e-commerce platform. Our staff can help you with listing creation and optimization, product images, managing PPC campaigns, enhancing brand content and visibility, and providing customer support and logistical management.
Starting a business is overwhelming, especially when dealing with all the logistical hurdles alone. This includes storing, shipping, and even returning products. This is where the fulfillment strategy enters.
It is ideal to choose an area that is both efficient and accessible to you. As an Amazon seller, it is significant to consider cost-efficiency. Some sellers start by storing their products in their garage or renting a space where they do the manual labor. Some sellers, however, employ third-party fulfillment.
If you want to sell on Amazon, FBA (Fulfillment by Amazon) is an excellent choice. Through FBA, Amazon will store your items in their warehouses and deliver orders. This can help you save time and other resources enabling you to focus on other elements of your business.
You can start by reading this article entitled The Definitive Guide to Sell on Amazon FBA in 2022 if you’re interested in being an FBA Amazon seller.
Now that we’ve set up primarily for everything, what is the last thing you should do?
Now is the time to put your product on the market. Listing your product has to be strategic, or you’ll drown in the competition. Amazon has a large audience, so there’s a strong potential for making a profit—but it still needs work.
Navigate to Seller Central > Inventory and then Add an Item. Although Amazon allows you to list your items in bulk, I recommend listing them separately. In this manner, you’ll be able to obtain a deep look at an intimate grasp of the things you’re offering.
There are a couple of things you need to start listing your products. First, your products must have a Global Trade Item Number (GTIN), whether a UPC, an ISBN, or an EAN, to help identify your products.
In addition to the product ID, you need the following information for a successful product listing:
Remember that a successful listing contributes to a successful launch that significantly impacts your business’s success. Therefore, it’s essential to highlight why your product stands out from the competition.
As an Amazon Seller, you must understand how a product detail page could impact sales. Consumers look into the detail page and get drawn into product presentations.
A qualitative market research study posts that product presentation influences consumer decision-making and purchasing behavior (Boardman and Mccormick, 2019). According to Amazon, here’s how you can best present your product detail page:
For a viral launch, increasing sales velocity is critical. Seller Interactive’s product launch services cover a thorough SEO audit to guarantee your business is not missing out on any opportunity, optimize listings through reputable tools and methods, and provide critical analytics and statistics to maintain the concern rates for optimal positioning.
Now you’re up for the execution part of the business: selling. While you’re at this stage, the work only begins as you need to draw consumers and traction for business success.
It’s essential to live up to the brand promise. This establishes your business’ symbol, which shoppers cling to in answering whether they can trust your business long-term or not.
Brand consistency boosts your sales, and with a successful positioning strategy, you may receive significant benefits in different aspects of your business, such as growth in brand equity, consumer loyalty, expansion, and an increase in revenue.
E-commerce marketing is essential for launching and expanding your business. Regardless of the selling channel, running marketing and promotional activities can help you reach a wider audience.
Amazon advertisements are ideal locations to start marketing your Amazon business. They have reasonable conversion rates. Suppose you don’t have much money to spend on advertising. Then, begin small and gradually increase your ad campaigns.
Pay Per Click (PPC) campaigns and social media advertising are two more advertising options to consider.
The truth is, starting your Amazon business could either make you or break you. The Amazon marketplace brings out compelling reasons to do business, such as high-profit potential, access to many customers, and its automation features.
It would be best if you exhausted all means to launch your business right to get the most out of the Amazon marketplace. This means having consistency in how you establish your business from the get-go while at the same time keeping up with the dynamic nature of Amazon. If not, it might put your business behind.
At Seller Interactive, we provide wide-ranging services and continue to grow dynamically, catering to the dynamic world of eCommerce. We help brands stand out and allow them to grow while we cater to the backends creatively!
Book us a call at 1-800-820-3746, and let’s discuss how we can successfully establish your brand in the marketplace.
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