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  1. Entrepreneur

    Entrepreneur Entrepreneur

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    What's the most important things to know? Is it still profitable or already saturated?
     

  2. azgold

    azgold Moderator Entrepreneur

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    Both. Depends on what you're selling and how well you do it. :)

    Lots of people are still making money with Amazon. Look for their top sellers to promote, or very specific drill-down niches that have some low competition search volume.
     
  3. Entrepreneur

    Entrepreneur Entrepreneur

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    Thanks
     
    azgold likes this.
  4. azgold

    azgold Moderator Entrepreneur

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    @Entrepreneur , it would be great to hear back how you make out with this. :)
     
  5. olgab

    olgab Entrepreneur

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    yes, keep us updated on this one. I was thinking about selling stuff on amazon, but percentage amazon takes from transaction made it unreasonable for me.
     
  6. azgold

    azgold Moderator Entrepreneur

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    You're right, their commission is pitiful. You need to get a ton of volume to make any real money, although the more you sell, the higher the percentage gets, which is good. Also, they can be a passive income generator, once you have them set up on a review site, or whatever.
     
  7. Seller Dynamics

    Seller Dynamics Entrepreneur

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    Good question:

    First... Amazon is growing faster than ecommerce generally. B2C online retail is growing at about 15% a year in the USA and Europe - the current belief is that Amazon is beating that. About 40% of what they sell is actually sold by third parties, so its a huge opportunity.

    I agree that the commissions they charge can look high, but you have to compare that with running a PPC campaign. You only get charged on Amazon if you sell something - so the risk isn't there. PPC doesn't guarantee that you will sell something, so it can be costly.

    If you have stuff to sell you might as well give Amazon a try - it won't hurt to try.

    What's the most important thing to know? Just make sure you fulfill on time or they will suspend you which isn't good.

    Amazon's catalogue system means you probably will not have to create any special descriptions, so you can be up and running fast. And there are 11 Amazons - so you could be selling globally as well.
     
    Last edited: Oct 23, 2016
  8. Entrepreneur

    Entrepreneur Entrepreneur

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    Thanks for all the replies. I wanted to update you guys on how it's been going.
    Let's just say thing have gone a lot better than I expected. Almost out of inventory with $7,000+ in revenue, restocking another 500 units. I've been getting 7-8 sales a day consistently. I'm estimating $3000+ profit a month starting from when the new inventory arrives. Had to make a few adjustments on the product. But yeah... I'm very happy about how things turned up. Hoping to make a full time living off of Amazon by selling other products soon.
     
    azgold likes this.
  9. Seller Dynamics

    Seller Dynamics Entrepreneur

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    Brilliant, well done. Good to see it paying off. I don't know where you are based but have a look at neighboring Amazon marketplaces as well - they could add a few dollars for you. If you are in the USA, then Canada and Mexico might work for you. And if you are in Europe then I'm sure you'll be looking at the big markets - UK, Germany & France - as well as the others.
     
  10. azgold

    azgold Moderator Entrepreneur

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    @Entrepreneur - well done, congrats!

    Don't forget to do your due-diligence if go global. Make sure you know if you can sell your item(s) in those countries (is it allowed), taxes, legal liability, etc.

    You can make a lot of money if you go international but you better research, plan and prepare to make sure you don't run into problems that you could have prevented. Once you take care of those things, though - go for it!
     

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