Living the Entrepreneur Dream. Amazon can offer Worldwide distribution of your Great Idea.
What sparks innovation, entrepreneurship in today’s economy? As the saying goes “Need is the Mother of Invention” and the creativity of mankind is still strong. So what do you do, you decide for go for it and your think you have a product idea that will be successful. But, you are just an everyday person with a good idea. Thoughts go through your head can I be the next person to start a business in my garage and be next one? How do I sell my product to companies like Walmart, Canadian Tire and Home Depot. I know I have to be online to sell my product. But what are my options?
Well today small business can look for Amazon for help grow your business as they offer quite an enticing value proposition to consider for your business. They can can offer you online marketing, e-commerce and delivery of your product. All you have to do is deliver your product to one of their fulfilment centres, they have 175 worldwide and 11 in Canada.
Since 2000, SMBs can sell their products in the Amazon online store. Now, SMBs do not need to invest in a physical store or the costs of customer discovery, acquisition, and driving customer traffic to their branded websites. Vendors can choose to have Amazon handle shipment of your products, returns, as well as customer service for all orders placed on Amazon. Amazon has also created a program to minimize wastage in packaging as part the supply chain so the distribution channel is as green as possible.
Amazon’s 2019 Small Business Impact report says that 58% of sales on Amazon is from SMB companies up from 30% 10 years ago. In 2018, more than 50,000 SMBs exceeded $500,000 in sales in Amazon’s stores worldwide, and nearly 200,000 surpassed $100,000 in sales. The number of SMBs with $1 million in sales grew by 20 percent in 2018. Since 1999, third-party gross physical merchandise sales— primarily comprised of SMBs selling in Amazon stores—has grown from $0.1 billion to $160 billion in 2018.
One thing also not to overlook is cybersecurity and Amazon has a reputation as one the best secure cloud base IT infrastructure in the world. So the likelihood of fraud and cyberattacks is minimal. Amazon has a division called Amazon Web Services providing cloud services, that is so highly regarded in the IT Industry that it is being used by the USA government. https://aws.amazon.com/about-aws/global-infrastructure/
To support sellers, Amazon hosts six events that vendors can attend to learn how to grow your business on Amazon. In 2019 they were held in: Ft. Lauderdale, March 26-27; Seattle April 9-10, June 18-19, October 15-16; Chicago, July 8-9; and Los Angeles, August 27-28
Sell your Products in Bulk with New Business Service
Amazon has launched a new Business Service for Canadian purchasers interested in buying in bulk on Amazon for their office supply purchases that includes free shipping. The system has built in approval work flows to manage spending with purchase analytics. The cost for the Buyer is $109 per year to set-up the account . You can more information at www.amazon.ca/business . Amazon Sellers can now sell their products in bulk in 9 countries worldwide with this new service. www.amazon.ca/business/sell
Here is sample of the type of the support offered by Amazon to help you get your great product idea out of the basement or garage. https://www.aboutamazon.com/supporting-small-businesses
Amazon Seller Best Practices: Here are ten tips that can help you be successful selling on Amazon.com.
1. Provide accurate product data
Use unique standard identifiers (UPC/EAN/ISBN) when creating or matching to product detail pages. Make sure your product description and condition notes are clear and helpful to buyers. It’s important that buyers get exactly the product described on the detail page where you place your listing.
2. Check for orders daily
To ship quickly you need to find out about orders promptly. If you have signed up for order notifications, we will e-mail you when you have a sale, but e-mails are unreliable and can be caught by spam filters. That is why we recommend checking for orders daily on Seller Central. Under the Orders link you can view a list of orders and set up automatic order reports. Learn more about checking orders.
3. Confirm when you ship
Amazon charges the buyer’s credit card only after shipment is Confirmed. Once an order is placed, you are responsible for confirming shipment within the time that you specified in your shipping settings. (The default is two business days.) To do this, on the Orders link click the Confirm Shipment button. Learn more about confirming shipment.
4. Check your inventory regularly
Keep an eye on quantity of inventory you have in stock, especially if you sell in multiple channels. Customers who submit orders for products that turn out not to be in stock are likely to leave negative feedback. If you get into this situation, the best move is to quickly inform the buyer and, if appropriate, offer to compensate them for their trouble. Learn more about managing inventory.
5. Keep pricing accurate at all times
The More Buying Choices page displays the lowest priced items first. Amazon shoppers are always looking for the best deals and are more inclined to purchase items that appear at the top of the More Buying Choices page.
6. Be sure to align your shipping and fulfillment policies
The best way to avoid disappointing buyers is to set expectations and then meet them. When creating your shipping policy clearly let customers know how often orders are processed, how frequently you ship, the carriers you use, and how to contact you with shipping related questions. Buyers will be disappointed if their item arrives late or the item is damaged; this can lead to negative feedback, refunds, or A-to-z Guarantee claims, all of which may have negative consequences for your account.
7. Be accessible to customers
Nothing is more frustrating to a buyer than not knowing the status of their order. Respond quickly to buyer contacts and notify them when an order’s shipment is delayed. Make it easy for customers to know how to reach you so that they trust that you will make their sales experience go smoothly.
8. Build a good feedback rating
Customers pay close attention to feedback, and so do we as we monitor your performance. We’ve found that the keys to good feedback are accurately describing your items, getting items to buyers quickly, and being prompt in responding to buyer questions. You may also want to solicit feedback on your packing slips. Learn more about feedback.
9. Handle returns and refunds gracefully
No one looks forward to taking returns and making refunds, but it is part of selling and a requirement of the Amazon sales process. Taking returns gracefully can lead to better feedback about your customer service. You are required to take returns of most items up to 30 days after delivery and your policy must be at least as favorable as Amazon’s current policy (for more information see your seller agreement).
10. Know where to look for answers
Take time to examine all the tools on Seller Central as well as your legal agreement and our other policies. If you have questions, a good place to begin is the Help link in the upper right corner of any Seller Central page. Go to Help.