If you have a product to sell, the best way to find buyers would be to expand your reach and let online marketplace do the work for you. Online marketplaces such as Amazon has proved its worth to be the most sought-after and popular choices among sellers to bid their products at high prices. Apart from the amazing Amazon offers, it also offers great support and services throughout the entire process.
When is the best time to expand your online presence and start selling your products on Amazon? The answer actually depends upon various circumstances. There are a lot of variables that need to be taken into consideration, including the type of products you sell, the intensity of competition in your category, marketplace fees and restrictions, your production units, and so on.
The Pros of Selling at Online stores
More visibility: The advantage of selling on online marketplaces such as Amazon is their wide reach and presence. Amazon draws nearly 184 million visitors a month, which is a huge traffic regardless of context. Displaying your product here can help you grab attention from a lot of people. Those people eventually translate into higher sales volumes. Amazon statistics reveal that on an average, a seller reports 50% increase in sales when they join Amazon Marketplace. Numbers don’t lie, and these numbers are great reasons for action.
Consumer Trust: Online transaction is a risky process, and as such, it is no surprise that people do not trust everyone. Only a select few, who have proven they to be reliable time and over, are trusted to a certain degree. Also, marketplaces are all about strength in numbers. This is as true for online marketplaces as it is for real-world examples like farmer’s markets, shopping malls, and food trailer parks. Online marketplaces create a seamless experience for buyers, which in turn, helps you grow within the platform.
Meet New Customers: People do not visit Amazon or Flipkart searching for your store. Rather, they come searching for your products, or products similar to what you’ve listed. Customers may not discover your services otherwise, or they may purchase the product from a competitor if you aren’t present there. But, once a customer discovers your services, even if it is through a marketplace, you’ve got a chance to win repeat business through excellent service and fulfilment.
Factors to consider while choosing a marketplace
Amazon’s Marketplace is one of the best and well organised, not only in this country, but this world. Being a retailer itself, Amazon understands the needs and requirements of the sellers as well as consumers, providing tools to build a seamless shopping experience for everyone.Firstly there is “fulfilled by Amazon”, in which you send you inventory in bulk to Amazon and they are responsible for handling, shipping, and fulfilment.
Secondly, Amazon Prime membership is a service which allows consumers to pay a little more for better and faster services, providing incentives such as free 2 day shipping.
Thirdly, there is a built-in comparison, wherein customers can check every seller’s price for any product, and thus choose depending on their final opinion. Essentially what this means is that Amazon will pit you against other sellers who listed the same product. Although this might seem like counterintuitive, it actually works great because customers are able to leave feedback for individual sellers and thus you’d be able to build a reputation there.
Amazon would charge you a fee for referral programs and other such services for every sale. The charges may vary depending on your product category. It is usually 15% commission from the sales for most categories.
Therefore, Amazon would be the best recommendationas it offers great support and services throughout and you will be able to focus solely on your product, if you so want, or focus on expanding your services for future. The process is easy and hassle-free, and all the nerdy stuff that you probably won’t understand will be taken care of by experts.