Selling products on any commercial site is not an easy task. So if you’re looking for a secondary income, start with the right vision. If you’re planning to sell on Amazon, learn the common pitfalls many sellers encounter and how you can avoid them. To be successful and become one of the best sellers, learn how to make money selling on Amazon.
Find out what it takes to become an Amazon Featured Merchant
As a merchant seller on Amazon, you will no longer have problems selling products. With good reviews, it will take just a few months for you to appear here. Typically, though Amazon won’t show you how to become a merchant seller, have the right kind of seller account, consistent sales, and good reviews.
Use the right fulfillment service
This is an important factor on how to make money selling on Amazon. Let Amazon fulfill the product for you. You can ship items in bulk, but for individual orders, leave it to the fulfillment service. This way you will have time to grow your business and increase sales.
Choose products that are right for your business size and available space
Sell products that you can easily manage. As a beginner, you can sell products that don’t require a lot of work, and as you progress, you can now venture into larger products.
Be flexible with your pricing and promotions strategy
Most sellers on Amazon tend to underprice products to attract more buyers. The best thing you can do is look at your competitors and then sell products that have little competition. You can then lower prices if you want more sales, or raise them by 3% or less for more profit.
Determine what your margins are
This is also an important factor on how to make money selling on Amazon because when you buy a product to sell, you have to cover the cost of the product. So if you set low prices, you may not even pay the selling fees imposed by Amazon. So, find more information about the product, the fees involved, the shipping costs as well, and then sell the right product that will benefit you.
Take advantage of simple marketing opportunities within Amazon
Amazon is always testing new tools that you can use to increase your sales and increase your income. However, great results will depend on the product you have chosen.
get ready for the holidays
During the holidays, sales usually increase above average. This may be a good time for you as an Amazon seller, unless you run out of stock. So know how to forecast demand, especially if you’re selling seasonal produce. This is a great way to make money selling on Amazon and you won’t miss out on sales that would have increased your profits.
Use Seller Central reports
You’ll also find great tools and reports in your Amazon Seller Account, also known as Amazon Seller Central. Here you can track your sales, your promotions, check your inventory, reasons for returns and refunds as well. This information will help you forecast future sales and increase your income.
Most importantly, remember to follow Amazon’s rules and guidelines while selling. Getting banned after working so hard to build and promote yourself as a seller is very frustrating. This is also a key aspect of how to make money selling on Amazon.