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How to Become a Successful Amazon Seller? (Ultimate Guide)

 

More than 2.5 million active sellers work on Amazon, and among all of them, just a few can be Amazon successful sellers, who increase their selling day by day. In this article, you get familiar with the secrets and mysteries of succeeding on Amazon. Don’t miss this article if you decide to come to the world of Amazon sellers or currently sell your products on Amazon.

 

What Is Amazon FBA?

 

The most advanced fulfillment networks worldwide belong to Amazon. You can store your products in fulfillment centers of Amazon with the Fulfillment by Amazon (Amazon FBA) service. Amazon will provide you picking, packing, and shipping service. In addition, customer service for these products will be done by Amazon. With Amazon FBA Business, you can increase your sales and reaches more customers.

 

How Much Do Successful Amazon Sellers Make?

 

There are many ways to sell on Amazon, but Amazon FBA is the most popular one up to now. Based on the report of Amazon and surveys that different companies have done, an average  Amazon FBA seller can earn $1000 to $25000 monthly in sales. If you assume an average profit margin of 10%- 20% for an Amazon FBA seller, making $100 to $5000 a month in profit is imaginable. 

There are three main types of sellers in Amazon FBA sellers working on the market for more than one year. In below summary table, you can have a glimpse of their profits and revenue:

 

Important Tips for Succeeding at Amazon

 

To improve your selling and become a successful Amazon seller, you need to be up-to-date and follow the below steps:

  1. Marketing for your business
  2. Keep your items’ price competitively 
  3. Choose the right pricing strategy
  4. Participate in Amazon Prime
  5. Have diversity on your sourcing list
  6. List your products correctly
  7. Identify your most profitable product
  8. Select the right fulfillment option
  9. Customer service 
  10. Go global

Actually, these 10 steps of success would not happen overnight, and you should put in the effort and hard work. 

Another simple way that helps you be successful and make money easily, is to use OABeans online arbitrage lead lists. These lists are practical for both newbie and professional Amazon sellers and the leads are checked on different criteria like 90-days price history, category selling rank, being gate/ungate and etc. By using this list, you can earn up to $5000 monthly profit.

 

What Products Sells More on Amazon?

 

Amazon is known as a great place to have an e-commerce business. You can decide what to sell there, but you should select the best selling products to have a reasonable profit. Your selling products determines your success rate. Therefore choose them attentively. You can go to the Amazon best-sellers section, which is updated hourly. It is possible to find the products that are bought frequently. They are listed under each department with their trending rank. Best Seller Rank (BSR) will give a score to each product on each individual category and the related sub-categories simultaneously.

You should keep an eye on the seasonal products as their popularity changes very fast, while other products like books, electronics, and games hold their constant position. During the pandemic and lockdown, the products like personal self-care items and fitness equipment became more popular. By the way, any time you want to add new products, it is required to check the market to ensure that the products are still in demand. In general, the sales potential on Amazon for the following categories are high:

  1. Electronics
  2. Toys& Games
  3. Video Games
  4. Camera & Photo
  5. Clothing, shoes & jewelry
  6. Books
  7. Home & Kitchen

When you want to use Amazon’s best-sellers list, pay attention to the following points:

  • All sellers have access to this information, so selecting the right product is very competitive
  • Not all of the best-seller products are profitable because of their sales margin
  • The trend of particular products may stop so that you can jump in  

 

Final Thoughts

In Amazon FBA, Amazon will perform all steps for you. There is a big competition on Amazon selling, so the amount of money you can make depends on many factors. Optimistically, you can join many of the existing profitable Amazon seller stories by following our ten seller tips.

For selling profitable products on Amazon and take the path to success faster, you can use the websites that provide the leads on Amazon. OABeans.com is one of these successful websites that offer money-making leads to the users and customers. We hope that this article helps you on becoming an Amazon successful seller. To study more articles about Amazon, you can visit the blog on the SellerBroad website.  

Save Costs by Reducing your Return Rates and Prevent Negative Reviews

Did you know that it’s possible to check the return reasons?

When a customer returns an item, they fill out a form where they select the return reason and sometimes they leave a comment To see the return reasons and comments, click on the number of refunds in your sellerboard dashboard. Continue reading “Save Costs by Reducing your Return Rates and Prevent Negative Reviews”

4 Ways to Cut Out Unnecessary Fees for your Cross-Border Amazon Business

When you enter a new region, you get new opportunities to make more sales – but you also have to overcome new challenges. These can include paying sales taxes in other countries, offering local customer service, handling fulfillment and logistics, maintaining your supply chain, and dealing with payments in different currencies. 

We’re here to explore just one of these issues — cross-border payments. If you feel stressed just thinking about foreign currency exchange, don’t worry. With the right online payments solutions, your cross-border payments can be made simple and hassle-free. Here are 4 ways to reduce fees and simplify payments in your cross-border Amazon business.

1. Use local bank accounts to withdraw your funds

You can avoid paying high foreign exchange rates to convert your cross-border sales into your home currency by withdrawing funds into a local bank account of the country you’re selling in. The only trouble is that it can be extremely complicated to open up a business bank account in a country where you aren’t a resident. In fact, sometimes it’s just not possible for online sellers.  

That’s where Payoneer’s receiving accounts come in. These allow you to open up a local receiving account in multiple different currencies, including EUR, GBP, USD, CAD, JPY, AUD, and MXN. It functions exactly like a local bank account, so you can accept payment in multiple currencies directly to your Payoneer account, without paying high foreign exchange fees or opening a local bank account. 

2. Pay VAT without paying commission

When you sell on any European Amazon marketplace, like Amazon.co.uk, Amazon.fr, or Amazon.de, you’re obligated to pay VAT, which is European sales tax, to the tax authorities. But when you pay VAT in a foreign currency, you’ll also have to pay commission on the currency conversion, transaction fees for paying in a different currency, and probably lose money through high exchange rates. 

That’s why it’s better to use a local bank account or your Payoneer account to pay your VAT obligations without paying commission. Payoneer can hold your revenue in local currency until it’s time to pay VAT, or save you money by converting it into local currency without commission and at competitive rates. 

3. Pay suppliers and providers commission-free

Your cross-border Amazon business doesn’t run in a vacuum. You have suppliers in different countries, dropshipping providers, and service providers who help you design your store, manage your product listings, or handle local customer service. They all want to be paid but you don’t want to have to pay commission. 

Turn to Payoneer’s Make a Payment service to pay everybody with zero commission. As long as your service providers and suppliers also have a Payoneer account, they can easily request payment in their currency, and you can enable the payment from your account without paying SWIFT bank transfer fees or foreign exchange costs. If your service providers and suppliers don’t use Payoneer, that’s not a problem at all – you can pay them via bank transfer for a small transaction fee, directly from your Payoneer account.

4.  Use a payment platform with an inbuilt FX feature

It’s ideal to use a cross-border payment platform that doesn’t only support multiple currencies, but that has foreign exchange capabilities built into it. After all, the whole point is to support cross-currency transactions. Payoneer offers foreign currency exchange for as little as 0.5%, which makes it easy for sellers to change available funds as needed to pay their suppliers, VAT obligations, local accountants, and any other cross-border costs. 

Payoneer cuts the fear of cross-border fees

There is no need to let fear of extra fees hold you back from expanding your Amazon business into other countries and regions. Payoneer has the solutions to save you from unnecessary fees, and help you keep more of your profit to grow your business. 

Don’t have Payoneer account yet? Sign up now and get $50 bonus after receiving over $1000 in total from Amazon!