Are you looking to sell on Amazon but still skeptic whether it is the right platform for your products?
Regardless of where your store is based, be it New York, LA, the mid-west, or a different continent altogether, there is a fair amount of business being conducted. As a matter of fact it is the ripe time to take the initiative, set up a store and kick start your first ever Amazon product upload right away.
Prior to getting started, here are some insights about Amazon you should know:
Amazon’s number crunching run
Amazon’s retail expansion continues across the globe, as it recently announced its plans to launch its highly popular product Echo in France this month. On the other hand, the industry behemoth is also planning to invest a whopping $ 2 Billion in the Indian market. Amazon’s ventures have been in a state of increased momentum in recent times, ever since it launched itself down under.
What about retail?
67% of Amazon’s revenue stems from retail itself, while other contributions come from AWS and Prime Video. The retail giant also holds a reputation for being one of the most innovative businesses across the globe. It has already been encouraging the idea of aerial delivery for quite some time, with its first ever demo drone delivery in the US being conducted last year.
In its market comparison to other retail brands, Amazon is an overwhelmingly dominant force in the industry with a worth of $ 425 billion. There is a great deal of products on Amazon, with grocery and even plants to sell. For sellers there are several suitable categories to list their products under and sell across different niches.
As far as selling on Amazon goes, you can sell either as a first-party or a third party seller. Additonally, third party merchants on the platform have the option to sell as individual or professional sellers. Third party revenue is interestingly a significant contributor to Amazon accounting for 40% of its retail sales. These merchants have also been tasting remarkable success lately, with 19% of sellers crossing $ 1 million worth of sales this year.
“Professional sellers normally sell more than 40 per month at a subscription fee.”
Despite the challenges of competition and Amazon store product maintenance, the incentives of selling on Amazon keep retailers interested in starting their businesses on the platform. For many stores, the option of multi-channel fulfillment is a trustworthy resource, allieviating the troubles of maintenance, packaging and shipping, while for others selling and uploading a variety of products according to their own convenience is a more feasible alternative.
Get to know!
Wondering which mode of selling to opt for? We can help you make the right choice and also assist you with store maintenance and real-time listing management. Send us an email at email@example.com