Today, shopping online is a common occurrence for everyone, be it a Gen Zer or a millennial. The last quarter of 2020 saw a 36 percent increase in e-commerce. As a result of the lockdown, e-commerce platforms have experienced a significant boost. Due to the fact that e-commerce was the only way to deliver essentials during the lockdown, the revenue generated from online platforms grew dramatically and is anticipated to double in the years to come.
It takes five steps for a seller to begin selling on Amazon pricing and take advantage of this $70 billion market segment at one of the world’s most popular e-commerce platforms. We have outlined the steps below to make this even easier for you.
A Step-by-Step Guide To Selling On Amazon
- You can now sell on Amazon India or Amazon Global without registering as a seller. The following are the steps to get started:
- Having your product in hand, you must register yourself with Amazon as a seller. You will need several types of documents depending on what kind of business you plan to run. You’ll need different documents as a sole proprietor than a private limited company. You need to upload all the necessary documents and procedures as soon as you sign up as a seller.
- Your products must then be listed on the portal. Once your products are listed on the portal, you can proceed with the next step. For a quick listing of your products, go to Seller Account>Inventory>Add a product. Either choose an existing listing or create a new listing according to your project. Include all the information about your product such as Offers, Descriptions, Keywords, etc., and you’re good to go.
- Once the orders have been filled, they can be shipped. Using MFN, your product is available for sale to customers as soon as they order it. Amazon allows you to offer different modes of payment, such as UPI, depending on the amount per day. Additionally, there are multiple fulfillment options including Fulfillment by Amazon (FBA), Easyship, and Selfship.
- Having launched your product, you have to market it more effectively to boost profits. By using Lightning deals, product bundles, and other offers and methods, you could become a verified seller. Consequently, even for Pay on Delivery orders, your payment cycle will be reduced to seven days. Eventually, you might be able to expand your business beyond Amazon India to Amazon global or vice versa.
How to Sell Products on Amazon
You should evaluate the market demand and whether your product will sell in the selected demographic before registering to sell on Amazon India or Amazon Global. You need to identify the strategic product categories that will sell in India, regardless of whether you’re a new or seasoned seller venturing into the Indian market from the US market. Keep in mind that even if you’re a top seller on Amazon US, it does not mean you will be the same on Amazon India. Therefore, you must be very confident and firm when conducting market research. Initially you can start with just one or two products, but once you see how the market reacts, consider gradually expanding your product portfolio.
The following are some criteria or tips to ease your journey to find the right product to sell.
- Look under Amazon India Bestsellers for the top trending categories and then proceed based on what type you choose.
- To ensure a steady flow of profits, look for products with consistent sales all year round rather than only during certain seasons.
- Finding a niche within a category is essential to marketing your product effectively. Choose a product that has a constant demand.
- Consider all the relevant factors before starting your business, such as shipping costs, profit margins, manufacturing costs, etc.
Amazon Product Charges
There are four basic fees that Amazon charges on your products:
- Referral fees: Referral fees range from 2% to 5%, depending on the product category.
- Closing fees: Commencing at Rs. 2 and varying based on the item’s selling price
- Weight Handling fees: Start at Rs. 28 per item shipped. They vary based on the volume and distance the item must be shipped and delivered to.
- Other fees: The fulfillment channel chosen depends on the program or service. Additional fees may apply.
Why You Should Sell On Amazon
Amazon has a huge customer base, which presents an opportunity for your business to grow and increase sales. In addition to that, when you sell at Amazon you get access to a number of other benefits, some of which are described below:
- Regular payments: Amazon ensures its sellers don’t have to wait long periods between their payments. They are paid every seven days, with Pay Delivery orders included.
- Hassle-free shipping: A variety of shipping packages are available to you. Amazon can do it for you or you can do it yourself so that your life is hassle-free.
- Market your products: Targeted ads can be used to market your products and you will be charged only when customers click. Using Amazon Global, you can sell globally right from the comfort of your home.
- Easier business: Amazon makes doing business easy. The Amazon Seller App gives you access to your entire seller dashboard, including seller support, seller university, help guides, and forums.
There has never been a better time to become a seller on Amazon with innate potential and the world turning to e-commerce for everything today. Take advantage of the festive season by partnering with other brands and running special offers on your products. Good luck!