Right Way to Compete on Amazon
18
Sep

The Right Way to Compete on Amazon

Some people equate selling on Amazon to participating in a never-ending battle. Competition is part of any business, but it is particularly steep on Amazon. It doesn’t do any good to be afraid of competition—it’s part of the industry. Try viewing competition as a new challenge to overcome. Focus on what competitors are offering, then systematically figure out what you can do to outsell them.

It may be difficult to find ways to outshine your contenders, especially if you are just starting your online business. To get ideas, PROSPER Show’s Amazon event hosts the top players in the industry who share tried-and-true methods for success.

Here are just a few tips from the pros for succeeding on Amazon:

  • Sell in categories that are not crowded – There’s a lot of competition when you sell on Amazon, but you’ll set up an uphill course for yourself if you choose to sell in already-saturated categories. Look to enter areas with fewer competitors.
  • Don’t be a know-it-all – Some sellers decide to offer products that they know will sell well, even if they have very limited knowledge about where the products are sourced and how to handle them. A better tactic is to sell products that you are familiar with. Electronics attract a lot of customers because of the large number of device users, but if you are totally clueless about technology, it is probably best to offer a different product.
  • Craft detailed listings – Listing your products for the first time is challenging. You need to use tools that will help you choose the right keywords and make your products appear attractive and enticing to customers.
  • Sell unique merchandise – This is tricky because almost every product can be duplicated. Look for items that will be difficult for others to copy.
  • Know the needs of your customers – Understand what your target customers want, and tailor your marketing strategies to fit. You should also cater to the spending power of your target audience—whether it be limited or expansive.
  • Shine bright – The more you sell on Amazon and the better your customer service and reviews, the better your standing will be. You may eventually be able to get the Buy Box, allowing you to increase your price incrementally.

Selling on Amazon is a long process of learning and experimentation, but as you stick with it and learn from others in the field, you can succeed.