The Dummy Guide of selling products on Amazon in the UK
If you are looking for a new way to sell more products than ever before, then checking out some of the most popular marketplaces out there is a great way for you to do that. Going where the customers are is always a great idea and Amazon is probably one of the best places for you to that. Selling on a marketplace like Amazon is actually pretty easy and you can get a lot of benefits if you know how to use it properly, and that is exactly what we are going to talk about today. So, if you are interested in finding out a bit more about the basics of selling products on Amazon in the UK, make sure to keep on reading this article until the end.
The very first thing, and probably the most important, that you need to figure out is what you are going to be selling once you get to Amazon. One of the things that you need to know about marketplaces in general is the fact that there is a lot of competition there and there are pretty much no products that aren’t being sold right now, so finding a product that will be a good option is something that you really need to take your time with. When you are thinking about this you need to consider a few things.
The first thing is that there are fees that you are going to have to pay to the marketplace, and this is an inevitable step since this is a huge part of how Amazon makes money. Then you need to check how much the product will cost you to make, store, package, ship and so on. All of these factors will really make a difference when it comes to the product that you choose because it will affect your budget. If you see that something will be too expensive to produce and pay through all of the different phases of the process, then it will probably be a good idea for you to reconsider it and go for another product. If you are not producing the item yourself, then something that you need to consider is the manufacturer and what are their prices and how that will affect your business.
Oce you decide which products you want to sell on Amazon in the UK, it is time for you to consider some of the other parts of the process. We already mentioned that you need to consider the shipping when thinking about which products you are going to sell, and now we are going to talk a bit more about the shipping options that you have. The first one is for you to do everything yourself. This can mean saving some money, however it also means that you will have a lot of logistics to figure out like storage, processing orders and more. The problem here is that if things get really overwhelming you will have to hire someone to help you out, and that can actually end up costing you more money.
- On-time deliveries – Did you know that between 3 and 7% of the packages arrive late every single day? If shipping carriers miss the delivery time, they usually agree to refund the shipping cost. A lot of companies don’t have the time to review invoices for every single delivery so as long as the packages arrive on time or close enough they are satisfied.
The second option that you have is to use a shipping company. This can cost you a bit more money, however the benefit here is that you really don’t have to worry about anything that has to do with the shipping. If you are not wasting your time on filling out orders, dealing with storage and employees and so on, it means that you will have a lot more time to deal with other aspects of your business. The debate here is whether you should save your money or save your time, and at the end of the day it will be up to you to decide which way is the way to go for your business.
When you are selling on Amazon, there are a few different plans that you can choose from, and choosing the right one for your business is a very important decision to make. There are two plans that you can choose between, and since both of them are quite different, that means that you really need to consider them carefully. The first option is the Individual Plan, and when it comes to Amazon, this is the closest that you can get to having a free plan. With this plan you have no monthly fees, however you will have to pay a transaction fee for every sale that you make which will cost you $0.99, and of course there is the referral fee of around 15%. Depending on what kind of products you sell you will also have a closing fee, and this is the case for items like video games, online books, audio files and so on, and this closing fee will cost you $1.80. In order to put this in perspective for you, we are going to give you an example. If you are selling video games at $15 each, the fees that you will have to pay for each will come down to around $5.04.
Selling 10 video games in a month will give you around $99.60, not including the price that you paid in order to get the products, and you will have to pay Amazon around $50.40. The second plan that you can choose is the Professional Plan. If you are selling a lot of products every single month, then this is the plan for you because when you use this plan, the transaction fee is gone, but you do have to remember that the other fees remain in place. If you don’t sell at least 41 times a month, then this plan isn’t for you and you will actually end up losing money, so make sure to really do your math before you settle for a plan.
If you know what to do before you start to sell products on Amazon, the whole process will be much simpler for you. We hope that following this article and the basics that we spoke about will make the whole process a lot simpler for you and that it will help you thrive in the UK.
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