WHAT IS AMAZON ALL ABOUT? | Bizvee
Amazon has an extensive and vast network. Amazon’s potential is probably four times greater than other online platforms. It would be mind-boggling for anyone to know that Amazon generates around $4,500 worth of sales every single. That is almost $285,000 every minute, and close to $20 million every hour. This demonstrates the unbelievable extent of selling on Amazon.
Generally, the prospect of generating money through selling products on Amazon is tempting enough to persuade anyone to try out their luck. Amazon has grown to become the most prevalent and popular way to earn online. Over 2.5 million people are selling their products on Amazon around the globe.
In 1994, an employee of Wall Street, Jeff Bezos started up with his venture, called Amazon.com. He chose the name predominantly due to its connotation with the river of South America, and because it commenced with the alphabet’s first letter. Bezos thought that he should begin with selling books online in the initial stages. A bookstore of a Silicon Valley, Computer Literacy, was the first firm to sell books to its select number of customers in 1991. Bezos planned to make it big! He wanted to deliver and supply books to anyone around the globe.
The business strategy of Amazon was met with a lot of criticism and skepticism. Analysts and journalists mocked it by calling it Amazon.bomb. Critics claimed that Amazon would eventually lose out to other established booksellers in the market, such as Barnes & Noble, and Borders. Until 1996–97, lack of revenue and its profit margin just about validated this criticism.
RISE AND GROWTH
Besides, private investors, Amazon needed more than just that for expansion. In May 1997, after opening up the virtual doors for consumers, Amazon succeeded in becoming a public company. It raised $55 million on the market. Amazon used its growing stock to account for its acquisition strategy and aggressive growth.
From books, Amazon transitioned to come up with other types of goods as well. This significantly enhanced its appeal. In essence, it was Amazon’s amazing service and pro-active response that led to consumer loyalty and a rise in profitability. Bezos pointed out that Amazon is not a retailer, but a technological company. Later in 2002, Amazon Web Services (AWS) was launched, which primarily offered information on traffic patterns, website ranking, and other data for marketers. By 2006, Amazon started its FBA – Fulfillment by Amazon Service to manage inventory. The rising business and rapid growth eventually led to a purchase of Kiva Systems in 2012.
Despite branching out beyond retailing, the majority of Amazon’s revenues come through its online selling of products. Most of its investment is targeted at the online sale and purchase. Amazon’s personalization structure suggests other products for buying on the foundation of the purchasing history of customers and feedback or review of other buyers. These customer reviews help other users to find the right product.
Bezos wrote a letter to Amazon shareholders in 2018 to apprise them of some essential information about the progress of its online presence and growth in consumer culture. It was reported that:
● The sales had topped $178 billion in 2017, a 32% rise from $135 billion in 2015–16
● However, Amazon has a long way to go to level up with Walmart, which generated sales of $486 billion the previous year
● The odds are on Amazon’s long-term dominance at an estimated market capitalization of around $700 billion. The estimate is around $320 billion in Walmart’s case
● Amazon has now gone past 100 million premium members worldwide
ALL YOU NEED TO KNOW ABOUT AMAZON SELLER CENTER
According to research, around 70% of e-commerce sales and the purchase will take place on online platforms in 2020, and Amazon will take almost two-thirds of the share. Hence, having and managing your seller accounts can prove to be successful for your start-up.
For selling purposes, we create and sell amazon accounts for people who want to sell their products on Amazon. This way, you can end up selling your products to the end-customer, through our portal. There is another option as well; Amazon Vendor. The purpose of Amazon Vendor is to sell products to Amazon. Amazon Vendor is only open to those who have a prior invitation from Amazon, thus in this article, we are only going to discuss Amazon Seller Central.
Amazon selling opens up infinite selling opportunities and possibilities to enhance the marketing of your products, and generate more revenue. With Amazon Seller Central, you can also come up with offers of your products to catch the attention of more customers. Besides, you can sell the regular catalog of your products on our platform.
CREATING AN AMAZON ACCOUNT IN PAKISTAN WITH BIZVEE
Amazon is the biggest e-commerce marketplace with humongous opportunities and prospects for sellers. With over 95 million people having their prime membership, and with 160 million Amazon users around the globe, signing up as a seller on Amazon will help you attract a huge audience.
Last year, around 3 million sellers sold more than 2.5 billion products and on Amazon worldwide. Thus, it is a great prospect for sellers to use our platform to gain access to a well-established and huge customer pool on Amazon.
As business consultants, BizVee helps entrepreneurs start their business in the U.S, UK, and worldwide in more than 8 countries without dealing with complicated government forms. In 2017, we started up a virtual law and business consulting firm so we could work from our laptops from anywhere in the world and help online entrepreneurs to start up with their ventures. Since then, we have assisted almost 2,250 entrepreneurs to start and grow their businesses.
Although users cannot register for an Amazon account in Pakistan as Pakistan doesn’t have an Amazon or PayPal presence yet, but it is reported that more than 60 percent of textile dealers on Amazon import their items from Pakistan. Isn’t this a striking fact and an injustice to keep Pakistani citizens away from Amazon? Definitely, it is, and that is where Bizvee comes to your rescue!
So, let’s discuss our process!
REGISTER WITH BIZVEE FOR A SELLER ACCOUNT
Initially, you will need to decide whether you want to sell your products as an individual user or a business entity.
A personal account will require the following details, information, and verification.
STEP 1: PERSONAL INFORMATION
Starting up with the registration for an Amazon seller account, you will have to provide some personal details, which includes an identity form in which you will enter your registered CNIC Number, mobile number, and your permanent residential address. We might provide you a virtual foreign (USA) number, verified by BizVee for your Amazon Account.
STEP 2: CHOOSING A MARKETPLACE
After providing the personal details, you will have to select a marketplace(s) and choose the areas where you would be wanting to sell the products. This is basically the actual Amazon store’s location e.g. Amazon.co.uk, Amazon.ca, etc.
Just like a Pakistani number can’t be used, similarly, any location in Pakistan can’t be used for a marketplace. Hence, you will also get a virtual address from BizVee after finishing up with the registration and verification process.
STEP 3: BILLING INFORMATION
You will need to provide your credit or debit card details – card number, expiry date, CVC code, along with the exact name on the front of the card.
STEP 4: PRODUCT INFORMATION
After the validation of your credit card, you will have to provide generic details of the products you would be planning to sell at Amazon and come up with a name for your Amazon store.
You will have to select your product types, whether you are the owner or manufacturer of the product you are planning to sell on Amazon. Besides, if you own the rights and registered trademark for your products, it is well and good; otherwise, we will help you in the product registration process.
STEP 5: VALIDATION OF ADDRESS
After providing all the required details and verification of complete information, you will have to re-enter the address that you provided.
We provide you a system generated Amazon code that we will send to your address. You just have to enter that code in the verification window, and you will be all set to go. Note that it may take up to 7 working days to complete the overall process.
A business account can be a slightly trickier and longer process than an individual one. Apart from your personal information, you will need to provide the details of your business as well. Although it is a long process, once you go through it, the prospects are great. For an Amazon Seller’s business account, the following details are required by BizVee.
You will have to choose the business entity amongst the following options:
● Publicly owned
● Privately owned
You will provide us the correct location of your business – city and area. We will verify it later. But, as Amazon doesn’t incorporate Pakistan as a location, we will aid you by providing you a virtual address. If you have a bank account in the U.S., you can provide us that. If not, then we will assist you. Keep in mind that you need to provide the correct location and information to us. Any discrepancies and your process will get delayed.
FBA and FBM are two types of fulfillment methods for Amazon sellers.
Fulfillment by Amazon (FBA)
Around 95% of sellers on Amazon use this method. Through FBA, a product is sent directly to the warehouse of Amazon. Amazon stocks and ships those products to the end customers. BizVee’s customer support takes complete responsibility to carry out this process.
Fulfillment by Merchant (FBM)
A small percentage of Amazon sellers also use this method, also known as Merchant Fulfilled Network (MFN). An FBM seller enlists the products they want to sell on Amazon, but administration like shipping, storage, and customer support is done by themselves, or through a third party.
7 GREAT TIPS FOR ATTRACTING MORE CUSTOMERS ON AMAZON
AN APT PRODUCT DESCRIPTION:
A precise description of the product you are selling can go a long way. It needs to be apt; or else you cannot attract the customers’ attention. It is essential to know the minute details about your product. If someone asks any question, you have to be sharp.
CREATE YOUR BRAND
Creating your brand name will attract customers, as a unique concept provides instant leverage. Why should a buyer approach you? A unique brand name and a USP, and now we are talking!
KEEP PRICES FLEXIBLE
There are two factors: the price at which a product will be sold, and the price at which you want it to be sold. For this, you need to research the market prices and set a price that is reasonable, yet competitive.
OPTIMIZE YOUR LISTINGS
Using API to automate and optimize your listings – sometimes letting software technology crack the code works the best. You just have to find that software program that works best.
GO BY THE AMAZON RULES
If you try to go for shortcuts or play it over smart, eventually it will lead to poor reviews, weaker sales, or even a temporary ban by Amazon.
USE SPONSORED ADS
You can go for paid or sponsored ad campaigns that are demonstrated and displayed on related products’ pages whenever a user hunts for a product. If you are an amateur seller, this a fine place to start for getting good returns on the investments.
Mindset is critical to ultimate success! A positive mindset will go a long way to creating a difference when we talk about selling products on Amazon. A right mindset, coupled with creativity and innovative thinking is just the right recipe for success.
It is safe to say that Pakistani citizens are greatly missing out on Amazon’s services. If you don’t want to miss out, we have got you covered! Feel free to reach out to us at the given email address, and one of our customer support representatives will get back to you soon.