While Amazon is intensely popular to both buyers and sellers, it is not an easy place to sell your goods. This is merely due to the fact that you have endless competition on Amazon, until and unless you are selling a one of a kind product. To help you out, regardless of what you are selling here are 10 things you must consider if you wish to sell on Amazon.
Amazon is now pushing wholesale vendors to sell directly - cutting the middle man in the process.
More than half of the sales made on Amazon are by third-party merchants. With that in mind, the company is looking to expand its coverage.
By cutting back on orders from many wholesale vendors Amazon is pushing them to sell their inventory directly on Amazon. This will not only reduce overhead, in addition, but it can also help open more space in their warehouses and fulfillment centers. Making sure Amazon is able to push a more profitable movement.
According to stats, Millennials will make more than 60% of purchases this year alone, rising a great deal from 47% back in 2017. According to the CouponFollow study, the percentage of shopping undertaken in brick-and-mortar stores will fall from 53% recorded in 2017, or 40% in 2019.
The worlds largest retailer uses a small yet powerful piece of real estate named the Buy Box. Buy Box is set in place to help boost sales, and different buy boxes differ depending on the marketplace. While almost all of them has something in common, behind every add to cart, or buy now lies a seller. Which seller is allowed to own the space changes based on four different factors. Keep in mind that on Amazon alone Buy Boxes calls for 82% sales.
In the last few years, we have heard a great deal about breaking up Amazon.com, Inc. In the first week or March, there was a widely discussed post, as Democratic Presidential Candidate, Senator Elizbeth Warren made a public statement stating that Amazon, Facebook, & Google have alarming power. Presenting her case to structurally change the tech industry.
Amazon is planning on spending approximately $800 million in this quarter to help reduce their delivery time frame for top customers. Now, instead of two-day delivery, top Amazon buyers will be able to enjoy a single day delivery plan. The plan is set in motion to help review their e-commerce franchise, and fight great competition such as eBay, Walmart, & Target.
The 2019 Amazon Consumer Survey ran by CPC strategy focuses mainly on driving purchases, and the Gen Z female population is obsessed with Amazon. While a great deal of consumers start searching for any products on Amazon, the Gen Z female population is more like to take on Amazon than others. CPC strategy shows clear marking of how Gen Z females are involved in Amazon searches than any other demographic.
Shopping channels and outlets are about to face some powerful competition as Amazon announces Amazon Live. This all-new service allows sellers to live stream their products, which is currently only being offered to Amazon Professional Sellers. While Amazon Professional Sellers will not be able to engage with customers in real time, they will still be able to advertise their products in style.
Contact Us to learn more about The Starren Group and how we can help you leverage Amazon to grow your business.