Selling products on Amazon can be a good thing for small businesses to make the most profit with more than 160 million visitors each month. Amazon has evolved into the largest marketplace and the most widely used sellers to sell their products. In fact, it has now surpassed the most popular retail sites like eBay in terms of traffic and sales. Meanwhile, you can hire the licensed Amazon consultant as well.
However, just by signing up, making a list of products, and wishing the best in Amazon is not enough. At Amazon, we also have to compete with other sellers from all over the world. If you want to succeed, we must know tips and tricks to be more than others.
1. Be sure to choose the right merchant account
The fee for the merchant account on Amazon is $ 39.99 / month. For comparison, for individual accounts, the cost is $ 0.99 / month.
According to Amazon, if you plan to manual more than 40 items per month, then the unlimited price of $ 39.99 will be meaningful. If you are just starting out or not planning to sell many items, maybe the choice on this account is not the best. If this is the case, use an individual seller account and upgrade when you are comfortable or when your sales start exceeding the $ 39.99 limit
According to Amazon, if we want to sell more than 40 products then for accounts with a price of $ 39.99 it is the right choice. But, if we are just starting or not planning to sell many items, then use an individual account $ 0.99. We also can still upgrade if sales start to rise.
2. Understand that price competition is fierce
When selling at Amazon we must be aware and ready to compete with other business owners from around the world. That means we will compete with hundreds, even thousands of competitors who sell the same or identical product, some may have a price much lower than ours.
3. Find ways to make the product look unique
Instead of trying to compete directly with competitors, better find ways to make our products unique. Amazon groups items by title, so if we sell the same product with a higher ranking competitor and lower price, then we will lose.