Top 10 Things I’ve learned Selling on Amazon
- Do your research! Check the sales rank of a product and the sales price/rank history using CamelCamelCamel
- Beware of “good” sales ranks on Amazon.ca. Often, .ca items still take months to sell, even with a good rank. Rank changes quickly with just a few items sold on .ca vs .com due to its smaller size
- Don’t go too deep on any one SKU. Amazon and other 3rd party sellers can and will eventually match/beat your price. Unless you’re prepared to hold the inventory and wait it out, don’t do it!
- Avoid “race to the bottom” pricing wars! Just because another seller jumps on your listing with a crazy low price, doesn’t mean you need to slash your price as well. Often, they’re inexperienced and don’t understand net profit correctly. Be patient and they’ll usually go away (once they realize they’re losing money or go broke!)
- Sales on Amazon Canada are SLOW!! You might make a better net profit on certain items on .ca, but be prepared to wait a while for them to sell.
- You need to sell on Amazon. com to make a full time living from FBA. It’s a much larger market with so much more opportunity. If you’re in Canada, start out on .ca to learn the ropes and then expand onto .com.
- Save on Shipping – In Canada, use Flagshipcompany.com (tell them I sent you) for couriers for pooled discounting on all major carriers. Use Canada Post for single box shipments as it’s usually cheaper than a courier. Use 2-4 smaller boxes vs 1 large box with couriers as it’s almost always cheaper. In the US, use Amazon’s deeply discounted UPS rates through seller central.
- Don’t send in items to Amazon with less than perfect retail packaging – They will sometimes reject it, or worse it sells and a customer complains it’s used sold as new (risking account suspension!) Also, pack well and don’t try to stuff too much in one box – A little dunnage can prevent expensive damage.
- Sell used books! It’s a great way to increase your profits. Spend a few hours per week in your local thrift stores scanning for textbooks, non-fiction and children’s books. For a quick sale, sell your books to places like Valorebooks or Bookmob.ca in Canada. It’s less than you’d get on Amazon after fees, but it’s guaranteed money if you need to raise capital fast. That being said, I’d focus on sending books to .com vs .ca as they tend to take longer to sell.
- Know thyself. There are so many opinions on what to sell, how to sell, and where to sell on Amazon. Learn as much as you can, but ultimately do what works best for you.
Find what people are searching for on Amazon and use Keywords effectively to boost sales, or find niches with little to no competition:
Cross list your Amazon . com listings quickly and easily on eBay using the JoeLister service. I use this and it’s awesome! It automatically sends orders to amazon and updates eBay, then Amazon ship to your customer. Totally hands off!! http://bit.ly/1knYPJv
Anyone have any others that they’d like to add?
Disclosure: I receive compensation from some of the companies reviewed in this post if you purchase their products/services using the links provided above. I’ve personally used and tested all of them and only promote the best to our community.
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