3 Amazon Entrepreneurship Tips For Housewives
Amazon is the number one online marketplace at present. With an average annual growth of around 20 percent, Amazon has simply been the game changer when it comes to online markets, by becoming a positive contributor towards the encouragement of self-employment and entrepreneurship. Since a major chunk of Amazon sellers comprise of stay-at-home hobby sellers and housewives, Amazon has been a blessing in disguise, especially for housewives to earn an extra penny and run their own business venture, without getting into the actual complexities of a business.
If you’re also a housewife and a seller on Amazon, following is a list of 3 amazing tips which would be helpful for you in selling:
Amazon FBA Could Be a Great Help
Most housewives are part-time Amazon sellers. While it might seem simple, online selling is a back-breaking task. From packaging to shipping to customer services related matters, it does take a lot of metal to carry out the task.
This is where FBA comes to the rescue. Unlike corporate entities, most stay-at-home sellers, part-time that is, don’t have the availability of huge soccer-field sized storerooms to store their inventory. By paying a very low fees, send your inventory to FBA and they shall take care of it. Not only that, FBA will also package and ship your product, providing you the freedom to concentrate on improving your product quality rather than on the complexities of excise and customs.
FBA also provides access to Amazon Prime, which is regarded as a straight ticket towards increasing your sales, According to AMZInsight experts, the amount spent by Amazon Prime subscribers is 150% more than non-Prime purchasers.
Cut Costs as Much as Possible
Most housewives in the robe of online sellers are either hobby sellers, selling on Amazon just for the sake of fun, to earn a few to make their weekend fun or part-time sellers looking to earn an extra sum, to save for rainy days or to pay for anything extra.
Unlike corporate entities, housewives have a very limited reach when it comes to financing their capital and maintaining a product portfolio. As a seller, it’s important for every housewife to limit the cost and maximise profit. Product tracking and recognition is the key factor towards the implementation of this strategy. Track products on Amazon which cost less and have a healthy profit margin.
In addition to the profit margin analysis, the actual performance of the product in the market should be the factor which should decide whether it is worthy enough to place your eggs in that basket. Track the sales of that product and then make your move accordingly.
Value Your Customers and Their Reviews and Ratings
Tracking product reviews and ratings is an important aspect of selling on Amazon. With the competition levels high on Amazon, it’s important to value the reviews and ratings posted about the product.
Reviews and ratings are a mirror of a product’s performance. While most housewives might not get a regular chance to analyze the reviews being penned down about their product, the use of a review tracking tool will come to your aid in such situations.
In case of any query made by a customer about the product, reply as soon as possible and also send a “thank you” email to a customer who posted a positive review about your product, since Amazon research suggests that positive reviews about a product can boost sales up to 12 percent.