How to Sell on Amazon 2023: Step-by-Step Tutorial & Complete Course for USA and Europe

Key Points for Selling on Amazon

• Selling on Amazon involves various steps including product research, finding suppliers, manufacturing, product inspections, and logistics.

• There are two strategies for product selection: the unicorn strategy focuses on high-profile products with potential for high sales, while the low profile strategy involves finding products with steady, but lower sales.

• The low profile strategy is favored for its stability and reduced risk, as it allows for diversification and avoids attracting price competition.

• Sourcing products from fairs is a preferred method, despite the current challenges with travel due to the pandemic, as it provides valuable information and profitable opportunities.

• Conducting a market study using tools like Jiang Oskar or Helium 10 is essential to understand the potential for sales and competition in the chosen product category.

Key Points for Selling on Amazon

Analyzing Sales and Product Creation

• Tools are available to analyze sales data of similar products to determine the potential profitability of the product being considered for sale.

• Product creation involves deciding whether to develop a new product from scratch with the help of an engineer or designer, or to improve an existing product to make it more competitive.

• It's important to consider the attractiveness of the product packaging, either by making modifications or designing a new package.

• Checking for patents related to the product is crucial and can be done using Google or by hiring a specialist in the field.

• Finding a supplier or manufacturer can be done through platforms like Alibaba, 1688, or by attending trade fairs to gather information.

• When selecting a supplier, factors such as price, quality, and speed of response should be carefully evaluated.

• Ordering samples from selected suppliers allows for comparison of quality and prices, although suppliers may charge for these samples as a filtration process.

• Upon choosing a supplier, a purchase contract is required with an advance payment of around 30% of the production cost through platforms like Alibaba or using Paypal for added security.

• The production process typically takes 30-45 days, during which time other necessary processes such as Amazon seller account creation and brand registration can be completed.

• Once production is finished, quality control inspections are essential to ensure the product's quality, with options for partial or complete inspections based on budget and confidence in the supplier.

• Approval of the merchandise by the inspection company leads to the final payment and the commencement of the selling process.

Analyzing Sales and Product Creation

Finalizing the Production and Brand Registration

• After completing the manufacturing and passing the inspection process, it's time to make the final payment, which is the remaining 70% of the total cost.

• Choosing a reliable freight forwarder is crucial to transport the products from the manufacturing location to Amazon's warehouses. The decision to transport by air or ship involves cost and delivery time considerations.

• Before production ends, it's important to decide on the inspection company and the freight forwarder to ensure timely shipment without delays.

• Prior to finalizing the product, thorough research and verification of the brand name's availability is essential through various platforms like Google, UPM, Wipo, among others.

• Registering the brand can be done independently, through a lawyer, or with the assistance of Amazon AIP and Accelerator program.

• Using the provisional application number obtained from the trademark registration, one can immediately register the brand within Amazon, gaining access to its benefits without waiting for the definitive number.

• It's advisable to register the brand in the Amazon trademark registry using the provisional number to expedite the process and access the benefits sooner.

• Simultaneously, obtaining the domain and hosting for the brand's website is crucial, which can be achieved through various platforms like SiteGround.

Finalizing the Production and Brand Registration

Setting Up an Amazon Seller Account and Creating Product Listings

• When setting up your Amazon seller account, you can choose between an individual account or a professional account. A professional account, though it requires a monthly fee, provides access to sophisticated selling tools and is recommended for serious sellers.

• To create a product listing, you need to input key information such as the title, bullet points, description, and photos. This is essential for identifying your product within Amazon and for customers to find and purchase it.

• After creating a product listing, you'll need to generate shipment labels with unique codes to be assigned to your products. These labels help Amazon identify and organize your products when they arrive at their warehouses.

• Positioning your product on the first pages of search results and gaining customer reviews are crucial for success on Amazon. Without reviews, it is challenging to maintain a position in search results due to the importance of social proof.

• When starting to make sales, sellers need to decide if they will sell at the target price or at the breakeven price. Selling at the breakeven price means not making a profit but is a strategy to facilitate initial sales.

Setting Up an Amazon Seller Account and Creating Product Listings

Amazon Algorithm and Sales Strategies

• Amazon has a complex algorithm with a strong focus on the price variable, giving more visibility to cheaper products compared to similar ones.

• To generate sales for a new product, strategies like PPC (pay-per-click) ad campaigns, promotions, coupons, vouchers, and flash offers can be used to increase visibility and attract buyers.

• To obtain social proof and improve conversion rates, the activation of the bain program for objective reviews and automated review requests from customers after each order are crucial.

• By repeating the process of achieving sales velocity, obtaining reviews, and adjusting prices, a product can achieve critical mass and position itself well in the Amazon results page.

• Chatbots can be leveraged using tools like ManyChat and Facebook to aggressively promote products, increase sales speed, and enhance product positioning within Amazon.

Amazon Algorithm and Sales Strategies

Conclusion:

Selling on Amazon in 2023 requires meticulous planning and understanding of the crucial steps involved in product research, manufacturing, brand registration, and sales strategies. By following the comprehensive guide and implementing the key strategies, sellers can navigate the competitive Amazon marketplace with confidence and achieve success in the USA and Europe.