5 Things You Need to Know Before Selling on Amazon
Written on the 3 September 2018 by Dave Mitchell
Amazon.com Inc. as of today is the largest e-commerce company in the world and the company which is own by the richest man in the world, Jeff Bezous, has a projected market capitalization for 2018 of $825 billion. The company reported a second-quarter profit of $2.5 billion this year and it is largest ever for Amazon. So, you want to get a piece of this enormous pie? Let us give you a clear picture of the most important things you need to understand before selling on Amazon.
What is Fulfillment by Amazon (FBA)?
The Buy Box is the white box on the right side of the Amazon product detail page, allowing customers to add items for purchase to their cart. To give you an indication of how important the buy box is, consider this fact 82% of Amazon's sales go through the Buy Box, and the percentage is even higher for mobile purchases. Ultimately it is important that you understand how the Buy Box works as this is where Amazon's $56 billion of $62 billion sales happen! To be eligible for the Buy Box you must have the following:
What types of Sellers are on Amazon?
What types of merchants are selling on Amazon?
As you grow your brand, it is worth mentioning the importance of having control over your brand and marketing growth via your own website. Many successful merchants will have their own eCommerce website which allows them to expand to customers outside of Amazon via other marketing platforms.
Understanding the Policies of Amazon
To be successful in any business is to understand your business and then understanding the environment that you are working in. Doing your research and taking your time to be clear on what you are agreeing to and your responsibilities as a seller on Amazon is paramount. By taking these steps you'll be taking your online success to the next level and we can help and guide you along the way.
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Author: Dave Mitchell
About: With years of experience David loves developing business specifically to help Entrepreneurs within the eCommerce Industry. David’s passion is creating new platforms with our Mentoring team and seeing the success of Licensees at Elite eCommerce.