Since its inception, Amazon has provided a platform for people, small companies, and retailers to sell their products and make decent income. However, some individuals do not know how to make money selling on Amazon. Some of the steps you can follow to become a top-rated seller in Amazon are listed below.
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Follow Amazon selling rules and guidelines
After signing up for a seller account. It is important to follow all Amazon rules and product guidelines to avoid getting banned. All these rules can be found in the help section of the Amazon website.
Strive to be an Amazon featured merchant
Getting to be an Amazon feature merchant is one way of solving the question of how to make money selling in Amazon. Though Amazon does not say the exact formula on how one becomes a featured merchant, one can easily join this prestigious group after a few months by having good sales and excellent customer feedback.
Be flexible on your pricing
Though everyone's main aim is to make maximum profits, it is important to have an effective pricing strategy. Check the prices of your competitors and ensure the price difference margin is understandable. In the event your product gets more orders, you can slightly increase the price to maximize profits.
Understand Amazon costs and fees
The most efficient way on how to make money selling on Amazon is understanding the fees and costs involved. When you buy a product to sell on Amazon, you have to price it in a way that you will cover your cost and still make a decent profit.
You can eliminate shipping fees by using Fulfillment by Amazon, FBA which entails sending your products to Amazon who will then handle the packaging and shipping to customers.