The Amazon wholesale platform is supported by more than two million third-party sellers around the world, to sell hundreds of millions of products to the consumers. Selling wholesale on Amazon is a lucrative opportunity, and a lot is to be known before you dive into it. You have to purchase bulk products from manufacturers, suppliers, or distributors and then resell to your customers. There are some basic cost and time effective strategies for wholesale products to sell on Amazon that will lead you to a significant wholesale selling business.
Amazon Wholesale Selling Strategies
Selling wholesale on Amazon has multiple potential benefits, and there are also some challenges. You would want to carefully consider different strategies and work to mitigate any risks if you decide to pursue a very successful wholesale business.
Find a Good Product to Sell Wholesale
After creating your free Amazon wholesale account, the first step you take is to find a good product for wholesale selling. As a wholesale seller, you have to make sure that Amazon or any private label seller does not sell the product. For Amazon, they can lose money on a sale, and they might price their products lower as compared to many competitors, so it is not possible for you to compete with them.
The private label sellers often tend to block other sellers from placing offers on their respective listings with similar products. It would be best if you will always look for the established brands, and you don't have to market for a company that is not your own.
Always check for the product's demand, while you can use different ways to estimate the daily and monthly sales of a product. As a wholesale seller, you should always find wholesale products to sell on amazon that have a chance of selling in at least ten, if not hundreds of units per day.
Calculate The Money That You Can Make
Your main aim always is to sell a product on Amazon to earn a profit. You can evaluate sales and profitability before making your investment. Always make sure that your product is priced within 2% of the Buy Box. On the right side of the Amazon product page, a widget called Buy Box lists pricing and has a gold button that reads "Add to Cart."
In the Buy Box, you have to be within 2% of that price, whatever the current price is. If your price gets higher, then your offer for the product might never display on Buy Box. You should know what fees to expect from the product, and an easy way to do this is to use Amazon's FBA calculator.
You can determine your profitability by subtracting the Amazon fees and your product's cost from the sale price. If it is positive, then you are profitable. This way, you can estimate your monthly sales and also understand your turn rate. To avoid any costly storage fees on Amazon, you should always try to keep only 2-3 months of sales in stock.
Research Products With High Potential On Amazon Wholesale Website
There are various people who are not sure where to start the search for good wholesale products to sell on Amazon. The first place that you have to head for research is Amazon; more specifically, there is an Amazon Bestseller list, 'movers and shakers,' and much more, that can offer invaluable insights into the product types that you should be considering for your inventory.
You can use ‘Hot New Releases’ to discover what is selling good and what products are about to be released. If you are good with your research, you can source a product before its release date and cash in immediately. Also, 'Movers and Shakers' can be used to discover which of the products have gained an increase or a decrease in popularity in the last 24 hours.
Find The Right Amazon Wholesale Suppliers
Once you have a proper product, you would want to make sure that you find the right Amazon wholesale suppliers for an amazon wholesale list. Identifying a solid and reliable supplier model can be challenging, even for the seasoned Amazon store owners. The supplier selection is considered as one of the most important decisions that you will make, second only to choosing your products for the store.
Your supplier is your business partner, and this can be your greatest support or the worst nightmare. Therefore, you have to take great care while choosing the supplier in order to ensure a fruitful and efficient relationship as your business grows. You should be able to work closely and comfortably with the supplier to make sure that your customers have a positive experience.
SaleYee.com——The Best e-Commerce Dropshipping Suppliers
When you have decided to dip a toe into the dropshipping business, it is seen as quite an attractive option. Having suppliers like SaleYee.com to fill your orders without needing to store, pack and send out stock is seen as a low-risk, and easy approach as various businesses are using this supreme platform to become a better Amazon wholesale seller.
SaleYee dropshipping platform presents its users with a detailed directory of more than 20,000 profitable SKUs and millions of products, and all of these products are pre-checked for quality. On top of a superb searchable database of suppliers that can easily be compared and contrasted, you can also access big discounts when you join the free membership with SaleYee dropshipping platform.
SaleYee.com also has a product discovery tool that helps you determine how well your chosen products will sell on different marketplaces. SaleYee.com has great customer support and a thriving community around the forum and blog.
Make Others Do The Work
There are various new frontiers for your new business, like Expedited shipping, feedback, optimization, rating, and sponsored search. All of these are legitimate and demand the attention of the new Amazon seller.
There are various solutions to these problems, like thousands of Amazon professionals are available for quite reasonable rates to assist you. Amazon allows you to outsource the promotion and customer acquisition of your products with different freelance services. This lets you outsource the activities that are quite unique to the Amazon marketplace.
There is no doubt that joining Amazon can be intimidating, but if you get the idea of how to enter the Amazon marketplace in a way that fits your company structure and goals, then you can do things with limited risk.
Conclusion
Selling wholesale on Amazon is a way to grow a successful e-commerce business, and though it may appear like a simple way to influence the already existing brands, there are various strategies that you must bring into line to see business success. Though it is very important to do your research on your part, you can seek advice from those already using the different strategies for Amazon wholesale selling.
