Whether youíre selling products online or offline, you know that the potential for growth lies in finding new channels to sell your products.
Amazon is one such channel you should expand your presence to if you havenít already, and hereís why:
1. Reach Millions Of Customers Online
Amazon has more than 310 million active accounts, and Small Businesses (SMBs) on Amazon sell more than 4,000 products a minute. Also, more than 200 million of these customers are Amazon Prime members, and they spend 2x more than non-Prime members.
As a seller, this is good news for you because your products get the chance to be viewed by millions of interested buyers who already trust Amazonís services.
The best part is that Amazon is also working consistently to improve its brand recognition and get more customers on its website. In 2021 alone, Amazon saw more than 5.2 billion to its websites and this figure isnít decreasing anytime.
So, youíll find the most potential buyers here, and you can start selling even if you donít have a website.
2. It Requires Very Low-Initial Investment
According to Small Business Trends, starting a small business costs around $30,000 - $40,000. This is a colossal amount, and not many people can afford it if theyíre starting a retail business for the first time. However, registering yourself with Amazonís FBA slashes these costs significantly because it takes care of your shipping and fulfillment processes.
According to a report from Jungle Scout, first-time sellers spent $3836 to start their businesses on Amazon. However, this figure doesnít have to be your benchmark. The same report also shows that sellers have started for $500 or less and still tasted massive success. Surprisingly, 31% have been in business for more than 5 years while only 17% of those who spent $10,000 or more were able to remain in business during the same period.
In short, you can start selling on Amazon with a meager initial investment, and if you focus on aggressively marketing your product, youíll get great returns on your initial investment.
3. Make Amazon Do The Work For You
Once youíve shipped your initial products to Amazon, they take care of everything for you from handling customer enquiries to addressing change requests and shipping your products on time.
They also process returns and refunds quickly, so you donít have to deal with complex merchant accounts. You also get to leverage Amazonís reputation and its ability to deliver a stellar shopping experience to sell more products online (98% of regular Amazon users say they trust Amazon.)
Letís say you want to sell clothes and accessories on Amazon. Youíll register yourself as an Amazon seller and list your products on the marketplace. Once the listings are out of the way, youíll assign inventory to Amazon and ship your products to them so their fulfillment centers can deliver products to your customers.
Selling on Amazon is profitable as the platform offers sellers the ability to reach millions of customers online even without a website. Plus, sellers also leverage Amazonís stellar reputation and customer service at a very low initial investment cost.
If youíre an offline retailer planning to expand your online presence by setting up an Amazon store, check out the Octopus Bridge plugin. It populates your product listings to Amazon in just a few clicks while integrating your online and offline inventories so you can manage both stores easily. To get started today, simply call +1 408-643-0097 and weíll get in touch with you.