Tracking Multiple Amazon Marketplaces Helps in Business Sustainability
What’s better for an entrepreneur than an Amazon selling enterprise? Selling enterprise operates in more than one Amazon marketplaces. Online selling doesn’t offer you much when it comes to expand your business and area of operations. Expansion, in terms of an online selling enterprise means offering your product to new market where people are not aware of the existence of your product before.
Before the idea of online selling or ecommerce, the meaning of business expansion was simple, set up more outlets in areas where you want your business to grow. But this idea was not viable for small business operators, since the investment involved was huge.
But the question is if such expansion helps in making a business sustainable or would only result in an increase in cost and effort?
With the varying sizes of the seller’s operating on Amazon, growth on Amazon doesn’t require much, as far as monetary investment is concerned. But flipping the other side of the card reveals, only getting your product listed on different Amazon marketplaces won’t do the trick for you. You need to adjust your business accordingly and track these marketplaces first as such tracking would help your business gain much needed information.
Another Amazon marketplace is a completely different marketplace altogether. This means different product listings and more importantly a different customer base.
Although an average customer would look at the product quality and its details before purchasing a product. But what about the products which require after sales services.
Put yourself in the shoes of a customer and then imagine yourself in the same situation. While making a purchase of an item which might require an after sales service, a rational consumer would try to purchase from a seller who has a better rating. This is where, credibility would act as a sales representative and would ‘literally’ steal the market share for you.
Customer oriented policies always work for the business. If a customer based in Argentina, travels to Brazil and he has access to your product there as well, he would purchase your product without any hesitation. This is where multiple Amazon marketplaces tracking can help you out. You don’t have to manually track the listings and categories of your interest in a different Amazon marketplace. AMZ Insight can help you do the basic research of the profitable niches and you can set the products on tracking to learn about the estimate sales and pricing.
Tracking multiple marketplaces help you learn about the consumer’s behavior and it also help you in rediscovering your business. Research on multiple Amazon marketplaces can help you beat competition in your prime market. This might raise some eyebrows. Well, skimming through different marketplaces can help you analyze the strategies which competitors adopt in that particular marketplace. More importantly, this can help you learn more tricks of the game.
Tracking different Amazon marketplaces can help you get a jump between 50% to 80% in revenue. Furthermore, the overall revenue of a seller operating more than one Amazon marketplaces can be 100% – 200% more than the one selling in a single marketplace. So its enough to make a rational seller realize the importance of tracking multiple Amazon marketplaces.