Answering Your Questions: Tips for Amazon FBA Success
Are you interested in starting an Amazon FBA business but don't know where to start? Or maybe you're already selling on Amazon but want to improve your sales and profits. In this article, we'll answer some of the most common questions about Amazon FBA and provide tips for success.
🤔 What Are the Attributes of a Good Product for Amazon FBA?
When researching products to sell on Amazon FBA, it's important to keep in mind several attributes that make a good product. These include:
Competitive Price
Can you get the product at a competitive price? Is the price reasonable and will it provide a profit margin that you're happy with? Also, consider if there is any wiggle room in the price, in case it goes down a little bit.
Competitors
How many competitors are on the listing that are going to be around the same price that you're selling at? Look at the competitors that you're actually going to be competing with in price.
Sales Velocity
How fast is the product moving? Does it meet the criteria that you're looking for in terms of sales velocity? Consider if you're looking for a fast-selling product or a slower-moving product with more margin.
🤔 How Negatively Will a Two-Star Review Impact My Selling on Amazon FBA?
Having only one review and it being two stars is not ideal. If the review is a product review and they left it on your actual seller account, you can get that product review or that negative feedback removed if it meets the guidelines within Amazon. If Amazon needs to take responsibility for something with that feedback, you can get it removed. If it's a product review and not necessarily a seller review, then you can get some of those removed. Focus on getting those positive reviews from here on out.
🤔 Should I Stay Away from Products That Sell for Significantly Less on Other Marketplaces?
Focus on how the product is selling on Amazon. Look at the Keepa data, which is your best friend and will keep you on the right track before making that purchase decision. Don't worry about what it's selling for on eBay, especially since prices are often much lower. If you can look at another marketplace and it's actually selling for more or it's just as profitable, then do a multi-channel listing so you can fulfill those orders as well.
🤔 How Many Products Do You Recommend Selling at One Time as a Beginner in Amazon FBA?
There's no right or wrong answer to this. It's completely preference. Some people want to go a little bit more deep into one single product when they have a small amount of capital, which just means going essentially much larger order. Or some people like to diversify a little more and reduce a little bit more of their risk and they go wide, which means you're investing into a lot more products and smaller quantities. If you're just starting out, focus on a little bit more on those faster selling products that are going to give you some feedback and you're going to be able to see that money turn over at a faster rate.
🤔 What Is the Best Way to Make Money from Investing?
Invest in yourself and invest into your own business. If you want to start a business or maybe you want to start a side hustle, make some profits, reinvest those profits back into your business, and grow from there.
🤔 Can Amazon Take Away My Ungated Status?
The only time that this has happened is actually with the grocery category. Amazon ungated the entire category to everybody, then a few months went by and they regated the grocery category. So, in that scenario, yes. As far as them regating you for no reason, I've never heard of that happening.
🤔 How Do You Join Your First Listing on Amazon FBA?
There are a few different steps that you have to do, but you have to go onto the listing, get the ASIN, and then take the ASIN and copy it and then plug it into your added product in your seller central account. If you want to learn how to add your first product to your inventory, check out our video.
🤔 What Should I Keep in Mind During Product Research for Amazon FBA?
When doing product research for Amazon FBA, keep in mind the attributes of a good product, including competitive price, competitors, and sales velocity. Also, consider if the product is profitable and if it meets your criteria for a fast-selling or slower-moving product.
🤔 What Should I Do If a Competitor Constantly Cuts Their Price Down to Win the Buy Box?
Don't get into a price war with people and just drag that price all the way to the bottom where it's not even profitable. Give it a couple of days or a week and see what happens. They could come back up and match you, or they could sell themselves out, and now you're selling at a higher price point.
🤔 What Are Some Tips for Success on Amazon FBA?
Some tips for success on Amazon FBA include investing in yourself and your own business, focusing on faster-selling products with decent margins, and using Keepa data to make informed decisions. Also, don't get into price wars with competitors and focus on getting positive reviews.
🎉 Highlights
- Competitive price, competitors, and sales velocity are important attributes of a good product for Amazon FBA.
- Focus on getting positive reviews and don't get into price wars with competitors.
- Invest in yourself and your own business to make money from investing.
- Use Keepa data to make informed decisions about products.
- Start with faster-selling products with decent margins and diversify as you gain more experience.
🙋♀️ FAQ
Q: How many products should I sell at one time as a beginner in Amazon FBA?
A: There's no right or wrong answer to this. It's completely preference.
Q: What should I keep in mind during product research for Amazon FBA?
A: Keep in mind the attributes of a good product, including competitive price, competitors, and sales velocity.
Q: What are some tips for success on Amazon FBA?
A: Invest in yourself and your own business, focus on faster-selling products with decent margins, and use Keepa data to make informed decisions.
