Having started out as an online bookstore, today Amazon is one of the biggest retailers on the web, and is one of the best places to sell products such as CDs, electrical items, tools and much, much more.
For merchants selling their stock on Amazon, issues such as competition, low prices and small profit margins can act as a deterrent, which isn't how things should be at all.
In fact, if you play your cards right and nail the tips listed below, you could find that making an impact selling on Amazon isn't as difficult as you first thought.
If you think about it, almost everything gets reviewed these days. From supermarkets to trainers, crisp flavours and cars, people tend to have an opinion on almost everything – an opinion that nine times out of ten, they're willing to share.
But while the majority of reviews get shared via word of mouth, on Amazon, each review is written down for all to see, meaning if you don't deliver on your word, a bad review could potentially have an impact on your sales.
To avoid this happening, always aim to deliver the best customer service you possibly can when selling your items and dealing with customers.
Hit those keywords
Just as Google uses keywords to determine a website's rank, Amazon uses its own keyword tool to determine where a particular product should rank on its site.
What this means is that if you're selling a particular DVD, simply listing your item with the title 'DVD' won't rank as well as a product that has several keywords – such as the movie title, director, genre and release date.
Try using Amazon's Keyword Tool when deciding how to describe your item. It might also be worth searching for similar products and seeing what titles have been used by other successful sellers.
Build an online presence
Whether you're selling DVDs, books, tech or garden equipment, it's important to let people know that you're selling your goods on Amazon.
Setting up a social media presence on Twitter, Facebook and Instagram is a great way to do this – helping you to market your goods, for free, to a much wider audience.
Although it's perhaps easier to simply upload your goods and immediately start selling as a merchant on Amazon, you'd be much better off registering as a Professional Seller.
The reason behind this is simple - registering as a Professional Seller will allow you to save money on the commission Amazon takes on each item you sell, meaning more cash in your pocket!
Supply and demand
It may sound obvious, but selling Christmas crackers in March isn't likely to generate as much money as selling the same product in say, October or November – which is why it's important to remember the fundamentals of supply and demand.
If you're selling a particular product that may only generate interest at certain points throughout the year (think gardening equipment, the aforementioned Christmas cracker etc.), you might want to think about selling a wider range of items to keep things ticking over all year round.
Take a load off
Although it's sensible to take care of all your postage and packaging needs when you first set up shop on Amazon, over time you may start to find you're spending more time at the Post Office than you are tinkering with your online store. When this happens, be sure to give Fulfilment by Amazon (FBA) a go.
In short, FBA takes away the hassle of having to post and pack all of your sold items. Sure, it comes with a small fee, but by allowing Amazon to handle all your deliveries, you'll be able to spend more time making money, and less time worrying about stamps.
It's all in the detail
If you're selling items such as clothes, it's important to give as much detail as possible about what it is you're trying to sell.
This means listing its size, colour, fabric, style and more in Amazon's filtered navigation tool – which should help users find what it is they're after much quicker. The same goes for other items, not just clothes, so be sure to check it out before publishing your next listing.
There's no point listing a product for £100 if there are already plenty selling for £50 – because when it boils down to it, people are always going to want to spend as little as possible for a desired product.
Researching how much your competitors are selling a particular item for should help you gauge where the market is at, which means you'll A: know how much to buy an item for and B: will know exactly what to charge when it comes to selling.
Remember, it's all about profit, and there's no point buying high and selling low.
Hit the box
Amazon's 'Buy Box' (that little box that sits in the top right corner of a page) is a great feature for sellers as it allows merchants to set a minimum cost based on profit margins. What's more, it's also a great tool for allowing sellers to gain exposure – as Amazon will occasionally randomise which seller it directs a buyer to.
However, although everyone would like to obtain the 'Buy Box', for the majority of new sellers, it can take a while to build up the reputation required to own the tool. With this in mind, always aim to deliver the best service you can to your customers, as sales figures and reviews will often determine whether or not Amazon deems you fit enough for this useful tool.
Keep it clean
Last of all; ensure you stick to the rules when selling on Amazon. There's a long list of terms and conditions available for all to see online – and giving them a thorough read before committing to your career as an Amazon seller may pay dividends in the future.
For more money-making tips and saving solutions, be sure to check out our blog! Full of awesome ideas and helpful guides, it's the perfect place to brush up on your fiscal know-how.