Since Amazon Marketplace was launched in November 2000, more than one million small businesses have joined the platform. This has turned Amazon into a giant shopping mall with sellers taking control of what they sell and how they sell it. For many companies, joining the Marketplace is their first step towards digital commerce.
Amazon is the world’s most extensive online retailer, with more than 300 million customers worldwide, including at least 100 million Prime members, who pay for faster shipping and free access to content in exchange for loyalty. Since selling on Amazon doesn’t interfere with selling on your site, it allows you to increase customer awareness of your brand without making any significant changes or investments in marketing or technology infrastructure. You can leverage key demographic data about shoppers on Marketplace to pinpoint the customers you want while remaining in charge of your brand image. If you are having trouble getting started, the services from an Amazon marketing agency can help you.
Aside from selling products directly on Amazon Marketplace, becoming an Amazon Brand registered seller also allows companies to improve customer experience across the site. By submitting product review requests and providing samples for reviews themselves, brands can highlight their products’ strengths while staying involved with how shoppers perceive them. For example, if there are multiple listings of your items on Marketplace, but they all have low star ratings, you may ask Amazon if you can pay for a promotion that would increase sales velocity and drive up your rating. The more positive reviews you get through this process, the higher your listing will be displayed in search results.
On its own, selling your product on Marketplace can drive up to 30% of your total revenue; however, the real win is when you add in the cross and up-selling. The more products you offer on Marketplace, the more shoppers will see them while browsing. Retailers also benefit from this by having access to insights on shopper behavior, such as which listings shoppers view or abandon before checking out. With this knowledge, online stores can create strategies for encouraging buying across platforms through targeted promotions and incentives.
Aside from knowing which products shoppers tend to buy together and how often they purchase them, you can get a clearer picture of what products are selling by country and your standing compared to your competitors. This will help you refine your product line while learning about the average price shoppers are willing to pay for certain items, valuable data when negotiating with suppliers, or planning a strategy for expanding into new international markets.
Despite having its Marketplace, Amazon also offers sellers access to third-party marketplaces such as eBay through integration on their website. Since many shoppers on eBay already have credit cards registered for use with Amazon, they may be more inclined to purchase from one platform over another. In cases like these, tracking sales on both sites and monitoring which ones are getting more traffic is important for understanding the value of selling on multiple outlets. Additionally, Amazon allows businesses to integrate Fulfillment by Amazon (FBA) into their listings on Marketplace, which can help them store and ship products to customers. This streamlines the online selling process while connecting shoppers to services they may not be aware of. By joining forces with FBA, brands can sell on Amazon and other e-commerce sites such as eBay and Jet, drive revenue from online marketplaces, and increase overall brand exposure.
Selling products on Amazon Marketplace can benefit your entire business, not just your bottom line. By participating across the site’s different selling programs, you have access to a wide range of helpful data that helps you adapt and improve with every sale. Platforms like eBay even allow customers who already have accounts with Amazon to make purchases without re-enter payment information. Ultimately, driving sales through Marketplace is another way for online stores to increase their revenue without taking any significant risks or investing too heavily in advertising.