In amazon wholesale business, finding the right product and its accurate sourcing is the ultimate essence of the model. Following are some of the best practices you need to opt for if you want to run a successful wholesale business.
1.Get Best Sellers products to start selling at Amazon
Yes, the best and proven platform to get a better start as an Amazon seller is for business ideas which are under the best sellers tab on the amazon webpage. Although there is an open competition, if you would get a better start strategy, then it’s worthy to get a few sales initially with the organic listing and then go towards the first page at the completion of your honeymoon period.
2. Sidestep from Amazon selling products
You should avoid dealing with the products that Amazon is already selling as Amazon is known for the best customer experience in terms of low prices. Also, you should steer away from the products which are legally owned through private labeling process, as it could cause problems regarding products sourcing from the manufacturer.
So if you want to find out a product that is of higher demand with the least obstructions, the best choice is Amazon ZONEBASE. This is probably the best software that hands you a winning product for sure. Also, the tools with this software help you with the product research to assess a potentially profitable product.
3.Repricing strategy to chip away the competition
Repricing is the foremost approach for an amazon seller to keep up with the market. You can either do this manually or with the help of a qualified person to set the lowest possible price.
4. Go unique or Fail
There are thousands of people selling the same product on Amazon. In this case, you have to offer your customers a unique configuration and had some value-added services. This will lead your product as a unique item and will be distinguished by the buyers easily.
5.Be selective about the niche
Selecting a profit-based niche is the most important part of affiliate marketing. In the niche selection part, you need to consider product price, its seasonality, and search volume as well. This whole gives you a complete insight about a low competitive and profitable niche.
6. Evaluate the money you can make
Earning a good profit through product selling could be your foremost interest. Prior to any investment, you can calculate sales and profitability by the following steps:
- Your product should be priced fewer than 2% of what the price of Buy Box is on the listing page.
- Amazon product page is the buy box which tells you the price details and ‘adds to cart option. The price of your product should not exceed the price within the buy box.
- You can calculate what fees you would be charged by Amazon with any tool but best to get your fees calculated with is FBA Calculator of Amazon: You have to enter the ASIN to the calculator, and the data to generate the profit margin on unit sale.
What you need to get with the cost of your product, shipping charges of the product from the wholesale market to the Amazon warehouse. Once you enter these two amounts, the calculator will insert shipping, storage and selling on Amazon charges and get you with the profit margin.