Amazon is a huge marketplace hence a potential source for online shopping businesses.
From the last few years, Amazon has widen up its span and geographical covering in both sellers and buyers aspects.
Before we discuss major pillars of the Amazon business we would first learn two basic concepts of the Amazon relations.
1. FBA (Fulfilment By Amazon)
This relationship means Amazon would be taking care of storing your product inventory, and shipping them to buyers address once ordered.
2. FBM (Fulfilment by Merchant)
This method tells us that the seller would be responsible to store inventory of their products and shipping them to customers as the orders receive.
3. Amazon (Itself)
Products that Amazon owns and sells on its own behalf.
So, the most commonly used and hassle free method is FBA where sellers only learn certain techniques to find product of sales potential and sell them through Amazon with small Amazon processing charges.
We shall now learn how exactly we can do this business and can acquire skills for a successful Amazon associates.
PRODUCT HUNTING / PRODUCT RESEARCH
- PRODUCT HUNTING
TOOLS for Product Hunting
(how many people selling and what is best selling) Tells competition of product
- Merchant Words
(Keywords people searching to find product) How much search is intact by the people
(keywords ranking of competitors) competitors are ranked on what keywords
- Viral Launch
Also for keywords
If you don’t have any tools, then the best way is to open amazon website and select your target country.
Then in the search bar, search for any keywords for example leather jackets.
You’ll see a list of leather jackets will be displayed which will help you to see how many people are searching for this keyword, how many people selling this product etc.
Now you can also get to know the sellers stock and the daily sales through following procedure:
- open top 10 products (from same product but each from different seller) in new link.
- Add to cart each sellers prodct and place quantity as 999 (max allowed limit).
Once you’ll place the figure 999, the amazon bot will tell you how many pcs the sellers left with them.
- Note down all the stock details.
- Repeat same procedure daily and for a week period.
This will let you know howmany products are sold everyday, for example if you get to know quantity 500 by first day and 400 by second day from same seller and for same product.
Means 100 pcs were sold and this way you can get an average figure of the entire week for each seller.
This way you can see the sales potential of the product as well as top 10 sellers average sale.
- Also see the number of reviews against each prodct of each seller.
- Also cross check whether the product in the search result is same for all ten sellers?
- Also the price consistancy and variation from seller to seller so that you can set your own price.
THIS ENTIRE PRODCEDURE WILL LET YOU KNOW WHETHER THE PRODUCT IS WORTH SELLING OR NOT.
AND THIS PROCEDURE IDENTIFIES WHETHER THE PRODUCT IS “PATENT” OR NOT.
2. PRODUCT SOURCING