Amazon, the E-commerce giant, is one of the oldest merchants on the web and has over 200 million customers worldwide. Amazon is the unrivalled marketplace to sell products online. It provides an excellent platform for conducting online business and has proved beneficial for both buyers and sellers. Amazon is an extremely popular e-commerce site that can help expand your reach in the market and improve the visibility of your product in a unique way.
There are various reasons why you should consider selling at Amazon Marketplace
- Increase Sales: The best reason of selling on Amazon is the scale of their online visitors.
- Acquire Potential Customers from across the Globe: Amazon has millions of varied customers across the globe who visit on a frequent basis.
- Quick and Stress Free Shipping: Amazon can ship your product, through Amazon’s FBA service, Fulfillment by Amazon, to the customer faster and at cheaper rates than you can do it yourself.
- Effortless, Trusted Shopping Experience for Customers
- Secure and Timely Payments: Amazon offers hassle-free and timely payments. Payment for your product is deposited into your bank account and you are notified via email that your payment has been made. Also, Amazon deducts its fees only after you make a sale.
Amazon Marketplace – Account Types
Before start selling products you should first choose the type of account, then decide what product to sell and finally decide how to manage shipment and returns.
Amazon offers two types of Account
1) Individual Account
2) Professional Account
Differences between Individual and Professional selling plans
Individual sellers are on a pay-as-you-go system and use a basic set of tools for listing and order management. While Professional sellers pay a monthly subscription fee of $39.99, they also receive a waiver of the $0.99 fixed closing fee for each order and can access additional tools for listing inventory and managing orders.
Amazon Marketplace – Listing a New Product
If you want to list a new product in the Amazon catalog, then you need to follow the steps given below:
1) Log-in to your account
2) Click on sell button
3) Select your account type
4) Fill the following form
It may take a few days for the product to begin appearing in the search list.
Listing Products in Masses
What if you want to sell thousands of products? Entering the details of each item would be very tedious. In such a case, uploading lists of products into Amazon Seller Central comes to your rescue. It does not mean that you do not need to input the product data. You obviously need to enter all the data, the product cost, its condition, quantity, etc. but you will be entering it into a spreadsheet and upload the spreadsheet on Amazon. The entire procedure of uploading is the same as discussed earlier.
Amazon Marketplace – Pricing Tools
Amazon has a repricing tool that could be quite useful. Merchants need to use such pricing tools because prices change very quickly with upcoming new merchants and new inventories. So, one needs to keep a check and keep the prices reasonable without making any changes manually. These tools use Amazon Web Service’s Application Programming Interface (API). They track information about your pricing and your opponent’s pricing and modify your pricing to appear more competitive, thereby escalating your sales and drawing you closer to the Buy Box.
Amazon has no objection to merchants using these tools. In fact, they understand that managing large number of products isn’t possible without automation and they like tools with a tendency to push the pricing down, because it provides lower prices to their customers.
Amazon Marketplace – Price Calculator
It is quite an effort to know how much revenue you can generate by selling a product on Amazon. Being one of the most popular marketplaces for online merchants, Amazon has a wide array of fees – marketplace account fees, variable cost fees, referral fees, shipping costs, etc. The fee depends upon whether you are an individual seller or a pro merchant, shipping your product yourself or using FBA (Fulfillment by Amazon).
One cannot estimate how much profit can be earned by selling a product. Here, the readymade Price Calculators come to the rescue and helps you calculate how much profit are you going to make on the sale. Amazon Price Calculators are well equipped to help the sellers in determining their total profit on items after shipment and all monetary transactions.