How to compete on Amazon? 3 strategies to stand out
POR Hispanic Entrepreneurs •
If you're an entrepreneur looking to sell online, you can't ignore the power of Amazon. Sales volume in 2022 was $514 billion. Which means that, in addition to being a great alternative for doing business, the competition within the platform is strong and standing out is difficult. But in Hispanic Entrepreneurs Let's plot three strategies for you to learn how to compete on amazon.
Other information about the platform that interests you as an entrepreneur are the following:
- The volume of sales has been constantly increasing. The 2022 figure exceeded that of 9 by 2021%, which was $470 billion, and this -in turn- exceeded 22 sales by 2020%.
- 69% of total 2022 sales were made in North America.
- That same year, the best-selling categories were electronics, clothing, and household items.
- It has more than 200 million active customers around the world.
With this information we are sure that you are already convinced that sell on amazon usa It is the investment option you were looking for. And if you already have a business, take advantage of the platform to make it grow.
How to compete on Amazon?
There are different ways to make money with amazon, but the main one is sales. It is also true that it is a competitive market and you will have to work hard to stand out from other sellers.
If you are starting on the platform or you are already a seller, but you have not achieved the profits you expected, here are some strategies to compete in the Amazon USA marketplace.
Improve your product listings
The first step to competing on Amazon is to make sure your product listings are attractive and well-optimized. These are some techniques that you should apply to improve them:
- Use high-quality images. Images are one of the most important elements. Make sure they are of high quality and show your product from various angles. Follow Amazon's specifications; for example, the product must occupy at least 85% of the area and the main image must have a white background.
- Write detailed descriptions. Product descriptions should explain in detail what you are selling. Include relevant keywords to improve search engine optimization. It is also important that they are unique, do not copy them from other sites.
- Take advantage of Amazon features. Amazon has several features that you can use to improve your product listings. Such as the option to add videos and the question and answer section.
Optimize your prices
A good marketing strategy on Amazon USA includes price optimization. These are an important factor in the purchase decision of customers. To do so, keep the following in mind:
- Analyze your competition. Research your competitors' prices and adjust your product prices accordingly. If your prices are much higher than the competition, you may lose sales.
- Use the dynamic pricing feature. This feature automatically adjusts the prices of your products to compete with other sellers. When using it, be sure to set limits to avoid selling at a loss.
- Offer discounts and promotions. In this way you will attract customers and increase your sales.
Improve your customer service
If you want to know how to compete on Amazon it is crucial that you offer excellent customer service. Which implies answering your questions on time, fast delivery times, among others.
With good customer service you have a better chance of getting better reviews and ratings on your products. And these can have a positive impact on sales.
- Respond quickly to customers' questions to show them that you care about their shopping experience.
- Offer a flexible return policy to attract customers and improve your reputation on Amazon.
- Make sure shipping and delivery times are accurate to increase customer satisfaction.
Is it possible to compete on Amazon if you have a limited budget?
Yes, it is possible to compete on Amazon even if you are on a budget. Although it is true that the platform does charge sales fees and that it can be difficult to stand out from the competition, you can apply these strategies to improve your chances of success.
In addition, you can also use other marketing tools such as social networks or your own website to promote your products.
Increase the visibility of your products with Amazon's advertising options.
How can I stay up to date on the latest trends on Amazon?
To stay up to date on trends on this sales platform, follow blogs and websites specializing in e-commerce and Amazon. You can also join online discussion groups and forums to connect with other sellers and gain valuable information.
Lastly, monitor your own sales regularly and analyze trends to identify any changes in demand.
Sell on Amazon and being competitive can be difficult because it is a saturated market. However, with the strategies we propose, you can improve your chances of success. The experience you gain within the platform will also teach you how to compete on Amazon.