Amazon boasts of having over 310 million active users.
Amazon US alone gets over 150 million unique visitors a month.
More than 50 percent of all product searches begin on Amazon.com.
Over 30,000 SMBs in the United States leverage Amazon’s Marketplace service.
If you are unfamiliar with Amazon Marketplace, it is time to say hello to one of the world’s most crowded online marketplaces. Amazon Marketplace has evolved into a potent force, since it provides a holistic environment for sellers to generate huge revenues.
Here is everything you need to know about Amazon Marketplace.
What is Amazon Marketplace?
Amazon Marketplace is a robust eCommerce platform that is owned and run by Amazon. It supports and enables third-party sellers to showcase, advertise and sell a variety of new or used products.
Today’s brands and businesses strive for attention and space in an increasingly competitive eCommerce environment. Amazon’s incredible Marketplace platform provides them with a powerful channel to not only list but also promote and sell their products.
Why is selling on Amazon a highly rewarding option for businesses?
As is evident from the statistics mentioned above, Amazon is one of the biggest eCommerce platforms in the world. Apart from being the most-visited online shopping destination, there are several other advantages that make selling on Amazon a profitable prospect for a variety of B2C businesses.
- For starters, Amazon provides you with an option to showcase your products in creative ways to millions of customers (or visitors).
- The virtue of eCommerce means that your products are visible to your potential customers 24×7.
- Amazon Marketplace also offers different advertising opportunities and channels to promote your products. You can use the Amazon Advertising portfolio to explore various types of targeted product display ads, PPC search ads and more. The platform also features programmatic ad buying functionality.
- It is fairly simple for your customers to make online payments via Amazon. The funds are transferred to your bank account directly (and securely) even if it is a COD order.
- Amazon Marketplace provides you with additional services such as product photography and account management from certified third-party vendors. These are paid services that businesses can avail off in case they do not have their own resources.
- Amazon offers phenomenal shipping and order fulfillment services. Whether you choose FBA (Fulfillment by Amazon) or Easy Ship, you can rest assured that your product deliveries are taken care of efficiently. Most brands and retailers prefer FBA, since this method enables quick shipping through Amazon Prime.
Apart from the aforementioned FBA option, Amazon also provides alternatives like:
- Seller-Fulfilled Prime: This method can apply to your business if you adhere to the standards set by Amazon Prime (with reference to packing, shipping and tracking). To qualify, you must have a cancellation rate that is less than one percent. Additionally, you are required to meet a 99% on-time order shipping benchmark. Amazon requires sellers to complete a trial period where you handle the shipping yourself.
- Self-Shipment: If you are a large retailer or brand, this fulfillment option is the least recommended. While the method allows you to pack and ship products at your own pace, it puts all the onus on you, thus making it difficult at times when you may receive a high volume of orders (or bulk orders).
Rules and regulations surrounding product feed
Amazon has several different guidelines regarding what you can and cannot include in your product feed. To always be on the safer side, it is best to include a high quality and quantity of product data for all your offerings. Here are some of the mandatory fields that your product feed is expected to include, irrespective of the category that the products belong to:
- Product title
- Product description
- Condition of the product
- Product ID
- Product category
- Shipping time
The customization of Amazon’s initial product feed and its regular maintenance takes time, but is worth the effort if you have a few exclusive products. For brands that want to sell thousands of products, this can become a cumbersome task.
While this is just a broad overview of what Amazon Marketplace offers, there are several other features that you can explore. Whether you wish to kick-start an eCommerce business, take your brand to the next level or expand the reach of your products, Amazon Marketplace is your best bet.
With millions of potential customers waiting to discover your awesome products, it is a great time to explore Amazon’s unrivaled reach. All you need is a digital marketing agency that can help you get started. At QualDev, we enable businesses in the United States to realize revenue-driving opportunities by leveraging Amazon Marketplace and its related services. Become a participating seller and get in touch with our team today to start your journey with us.