Despite some concerns that Amazon’s enormous eCommerce presence would squash local small businesses, many savvy SMEs are taking an “If you can’t beat ‘em, join ‘em” approach, and using the online marketplace to their advantage.
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In fact, more than half of Amazon’s sales are made by third-party sellers who list their own products. Amazon reached US$43.7 billion in global sales in 2017, and this figure is projected to keep growing over the next ten years.
For small businesses, selling on Amazon offers a number of advantages:
Gain access to an enormous potential customer pool
Building a loyal customer base and audience for your own store requires time, money, and effort – things many small business owners don’t have much of. Selling on Amazon allows
you to tap into a veritable treasure trove of potential customers, not only locally, but all over the globe.
Scale up by outsourcing fulfillment
FBA, also known as Fulfillment by Amazon, offers a straightforward and cost-effective method of managing shipping and fulfillment of orders once items are sold through Amazon’s marketplace. Items sold are stored, packed, processed, and shipped through Amazon for delivery and customer service is managed by Amazon as well.
Increase customer loyalty, trust, and average order values
A study by Forrester reveals that selling on online marketplaces is likely to boost customer loyalty, increase average order values, and build trust. And almost 9 out of 10 customers search for a product on Amazon even if they find it directly on a retailer’s site – so it pays to surface your products at every possible touchpoint.
In our latest eBook – A beginner’s guide to selling on Amazon – we take you through everything you need to know to set up and run a successful business on Amazon.
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