Amazon is a great way to sell goods. It has a large customer base and allows you to earn money from the convenience of your own home. But before you start selling on Amazon, there are some key factors that you’ll want to consider first. In this article, we will take a look at those considerations so that you can make an informed decision about whether or not it’s right for your business.
Seasonal Sales
To make the most of seasonal sales on Amazon, you need a way to easily track them. Once you have scheduled your posts in advance, use our new tool called “tactical scheduling” and set up custom alerts for products that are related to whatever it is that will be going on sale at any given time (i.e., summer or winter). You can even schedule alerts by keyword so if somebody searches “snow boots” they see an ad featuring snow boots! This means creating separate ads just for this event/special pricing period which we do with ease via our Facebook integration. Even though there may not be enough people searching these keywords right now, when someone does come across one of your ads during their search, you want to be prepared.
Your ads should only stay alive during the time that they are relevant so plan them out in advance! Here’s an example of what your pre-scheduled ad could look like, by the words of a FastLaneAcademy.com specialist. You can also create a “deal” for one specific product via our Amazon deal tracker collections feature. Allowing customers to purchase this item at a lower price than normal keeps sales coming in even when there isn’t any special promotion running on Amazon itself (such as Black Friday). When somebody clicks through from Facebook and purchases it, simply mark down how many units were sold for that particular day/week/month using the reporting tool.
Competition
When you’re setting up your Amazon store, it’s important to take into account the competition. How many other stores are selling similar products? What’s their pricing strategy? What can you do to differentiate yourself from the competition and attract customers?
It’s also important to research what other Amazon sellers are doing. Are they offering free shipping? Discounts? Special deals? By studying your competitors, you can learn what strategies work best and adapt them for your store. With a little effort, you can set yourself apart from the competition and create a successful Amazon business.
Shipping
When you’re selling products on Amazon, you need to be aware of the shipping options and costs that are available to your customers. There are a few different shipping methods that you can choose from such as standard, expedited, and priority shipping. Standard shipping is the cheapest option, but it will take longer for your products to arrive at the customer’s door. Expedited shipping is more expensive, but it will get your products to the customer faster. Priority shipping is even more expensive than expedited shipping, but it guarantees that your products will be delivered within a certain timeframe. You also need to be aware of Amazon’s storage fees. If you exceed Amazon’s free storage limit, you’ll have to pay a fee for each additional cubic foot of space that your inventory takes up.
Marketplace Fees
If you’re looking to set up an Amazon store, it’s important to be aware of the various marketplace fees that will apply. These include referral fees, closing fees, and weight-based shipping charges. Referral fees are charged on items sold by any of the marketplace sellers. These fees range from 0%-25%, based on how much you sell your product for and what category it falls under. Closing fees can apply to both the buyer and seller, but more often than not they will be applied to the merchant who did not use FBA (fulfilled by Amazon). The fee is $40 per unit that was fulfilled outside of FBA. Lastly, weight-based shipping charges depend on item size and ship method chosen during listing creation, if no specific price is set then-standard rates will apply which usually end up being between $0-$12.50 per order shipped domestically.
Product Restrictions
Amazon has a long list of products that you cannot sell on their platform. This includes items like tobacco and firearms, as well as adult content. Make sure to review the full product restrictions before setting up your store, or you could end up losing inventory and revenue. Products like tobacco, firearms, and adult content are not allowed on Amazon. Make sure to review this before setting up your store, or you could end up losing inventory and revenue.
Selling in Other Countries
If you want to take your Amazon store global, you’ll need to consider some additional factors. For one, you’ll need to research the legal requirements for selling in other countries. You’ll also need to translate your content into multiple languages and create unique product listings for each country. And don’t forget about payment processing – you’ll need to find a payment gateway that supports international transactions.
All of this can be daunting, but it’s worth it if you want to expand your business internationally. By taking the time to do your research and set up your store correctly, you’ll be able to reach new markets and grow your business exponentially.
The process of setting up an Amazon store is relatively simple, but there are a few things to keep in mind before getting started. By considering the factors listed above, you can make sure that your store is well-prepared for success. Thanks for reading.