Updated: Oct 29, 2020
Amazon has emerged as one of the popular eCommerce marketplaces in recent years. It doesn’t matter, whether you are a start-up or an established business, Amazon marketplace offers you tools and traffic to fuel your eCommerce business. As you start selling on the platform you will become a part of the retail community comprising small start-ups to traditional artisans to Fortune 500 companies.
1. According to Amazon, it attracts more than 300 million active users and customers from 180 countries.
2. Amazon attracts 195 million unique visitors every month, in the US.
3. Amazon has declared sales revenues of $75.5 billion in Q1 2020.
4. About 150.6 million users have used the Amazon App in 2019 - September.
5. According to Feedvisor 2020 report:
a) 73% of global brands have already advertised their products on Amazon
b) 83% of global brands who advertise on the platform could realize 4X returns on employing Amazon advertising
c) 62% of global brands use Amazon to boost their sales
d) 89% of of buyers are likely to buy from Amazon because they trust it over competitor websites like Alibaba, Flipkart, and so on
Benefits of Selling on Amazon Marketplace
1. Your product will be showcased to hundreds of customers across 180+ countries 24/7.
2. You can be assured of stress-free shipping.
3. You can take advantage of third-party professional support for everything from product photography and cataloging to transportation. All these services are available on payment.
4. You will receive payments within 14 days of delivery.
5. You can easily advertise on Amazon and get noticed.
How To Start Selling on Amazon
If you have made up a mind on what to sell, you can easily make an account on Amazon Seller Central. Before starting, ensure you have the following:
l Business name and address
l Telephone number and mobile number
l Tax Information
l Chargeable credit card/bank information
Once you have this information ready, next you can visit the https://sell.amazon.com/sell.html.
Select an Appropriate Selling Plan
Before you start selling, you need to choose between the Individual or Professional Seller Plan.
Individual Sellers can list and sell their products in 20 categories and Professional Sellers can access 30 categories. Of these, the first 20 categories are same as Individual Sellers, whereas the last 10 categories are only available to Professional Sellers on meeting certain requirements.
What is the Different Between Individual Plan and Professional Plan?
The following pointers will help you understand it better:
n Amazon Individual Seller: This selling plan suits start-up businesses or small businesses who are targeting fewer than 40 items in a month. This will cost them $0.99 per unit sold and some transaction fees, but Individual Sellers need not pay any monthly subscription fees.
n Amazon Professional Seller: This plan suits big brands or established sellers who are targeting more than 40 items in a month.Professional Sellers are charged a monthly subscription fee of $39.99 per month + transaction fee on every unit sold.
In addition to the above plans, there is an additional plan, which suits manufacturers.
n Amazon Vendor: This plan enables manufacturers to sell their products in wholesale to Amazon.Everything right from the product listing to fulfilment to shipping will be handled by Amazon Team. They will place an order when the stock depletes at their end.
Steps to Set Up an Amazon Seller Account
After zeroing in the appropriate selling plan, you can set up your account with the following information:
l Business Name: Add the Company Name/Business Name as they appear in taxation documents, and this information will be displayed before the customers in the marketplace.
l Name and Address: This information will be used by Amazon as a reference. Enter the same name and address under which your business is registered.
l Contact Information: This information will be used by Amazon and customers. Amazon will use the information to send notifications, technical updates, and service-related information. Customers will use the information to reach out to you.
l Shipping Options: You can select the regions where you want to ship and the type of shipping you would like to offer.
l Bank Account Information: Your payments will be sent directly to this account within 14 days of sale.
l Product Shipping Address: This information will be reviewed by customers to make a buying decision.
Tips for Setting a Seller Profile
After setting up your account here is how you can set up your seller profile.
l “About Seller”: Use this section to introduce your business to buyers. Here you can share your business story, business philosophy, as well as any information that helps you build an emotional connect with the buyer.
l Seller Logo: Your business logo will be visible on At a Glance Page. The logo must be set to 120 X 30 pixels size.
l Return and Refund Policies: Set instructions as how customers can return the products if they do not like it.
Once all this information is set, you can start listing products.
How to List Products on Amazon Seller Central
For product listing, you need to choose the appropriate product category.
Next, add product listing with the following information:
l Product Identifier: This can be EAN, UPC, GTIN, or ISBN.
l SKU: This is a product ID, which helps track your inventory.
l Details: Here you need to add information on product condition, price, available quantity, and shipping options.
l Product Details: This section includes information like category description, product name, brand, and images.
l Keywords: These are the popular search terms that people would use for searching.
Choose Your Fulfillment Method
You can choose from two types of fulfillment methods:
l Fulfillment by Merchant (FBM): In this method, you are responsible for inventory management, labeling, packing, and shipping products to customers.
l Fulfillment by Amazon (FBA): You have to send the products to Amazon fulfillment centers near you and they will do the packing, labeling, and inventory management. This method earns you Amazon Prime eligibility, super saver eligibility, a single inventory tool, win box listings, and product rankings.
Amazon serves as a one-stop destination for all your eCommerce needs. It offers you tools and assists you to fulfill your big dream of becoming a successful solopreneur or an entrepreneur. To realize its befits, all you have to do is set up an account and start selling.
About the Author
Saas-Expansion is a leading sales as a service (Saas) company in Singapore. Our clients can leverage our expertise in sales, telesales, partnerships and account management, clients, and revenues to fast-track their growth in Southeast Asia. Since, inception, we have helped our clients to test waters in Malaysia, Indonesia, Philippines, Thailand, & Singapore with minimal investment.