Business on Amazon – is it a real possibility
of successful business?
What is Amazon?
Amazon - it's a global giant in the field of internet commerce, with more than half of the population of the USA and many users from other countries of the world. The Amazon marketplace provides a unique opportunity to sell your products to a huge audience that makes millions of purchases every day. Moreover, many Amazon sellers make big money, however, success on this platform is far from guaranteed.
For many people in the CIS countries, where the economic situation is not always favorable, trading on Amazon may seem like an attractive way to make money. The Internet is full of promises of easy and quick earnings on Amazon, with minimal effort and investment. However, such statements may raise suspicions, as in reality, successful business on Amazon requires careful planning, hard work, and a professional approach.
Indeed, Amazon provides opportunities for selling your own products in a huge market, but the competition is also enormous. Amazon account owners must pay commissions and, in case of rule violations, risk losing their accounts. However, the main factor of success on Amazon is the right choice of products, suppliers, efficient marketing, and careful business management.
Many Amazon sellers achieve success and earn significant amounts of money, this requires effort, knowledge, and determination. Trading on Amazon is not an easy and quick way to make money.
Main mistakes of unprofitable business on Amazon:
Incorrect product selection.
Incorrectly drafted business plan and poorly thought-out budget.
Insufficient knowledge of the rules and policies of the Amazon marketplace.
Neglecting SEO and marketing.
Lack of customer interaction.
If the product is chosen incorrectly, sales may not be high enough, or high competition may overshadow the income from sales due to high advertising expenses.
Even if the product is chosen correctly, but the expenses are not calculated correctly, this can become a problem. It is important to understand that selling a product on Amazon takes time, and to make a profit, you need to actively sell for several months, while paying for marketing and fulfillment.
Violating the rules can lead to loss of rating, fines, and ultimately, account suspension.
Even if you have a great product that sells at a competitive price, customers may not be able to find it due to improperly crafted listings, lack of keywords, or lack of reviews, which can lead to low sales.
Customers in the USA are demanding, so constant communication with customers, politeness, and quality responses play an important role. A satisfied customer is the key to success. Otherwise, you may face returns, low ratings, and negative reviews.
To be continued...
Soon we will add several more points to this article:
- Experience of successful entrepreneurs;
- E-commerce trends.
Stay tuned for updates to the article and let us know what else you would like to see in it.