Selling internationally through Amazon is what forward-thinking people and businesses in Singapore have been doing for a long time. It’s a cheap and effective way of entering a foreign market and getting started might be easier than you think.

Here at WorldFirst, we deal with thousands of people selling online and we’ve compiled a list of the most common questions our Singapore eCommerce team get asked every day – which will hopefully help you learn how to sell on Amazon.

Who are Amazon?
Amazon is a global marketplace that boasts over 300 million active customers, in 189 countries. Selling everything from electronics and sporting goods, to clothing and beauty products, it’s the go-to for shoppers in many countries. The search term ‘Amazon’ receives between 80-120 million hits a month in the USA alone and it is estimated that over 50% of buyers in the US start their search on Amazon.

Which product categories work the best?
Amazon have over 30 categories listed on their marketplace. The great thing about this platform is that the sheer volume of active buyers means there is always demand for the right product. WorldFirst have seen trends of growth in recently include pet products, toddler clothing and jewellery.

How does fulfilment work?
Fulfillment by Amazon (FBA) is a warehousing and customer fulfillment option which makes running your business from the other side of the world easy. You send your stock to Amazon’s warehousing facilities and they take care of fulfilling orders on your behalf. Amazon Prime is a subscription service which offers same-day delivery and is a key part of many sellers’ strategy.

Source: Amazon Global Selling

What are the costs associated with selling on Amazon?

  • Monthly selling fee: US$39.99 (approximately SGD $54.05)
  • Referral fee: 8%-15% for most product categories
  • Fulfillment by Amazon (FBA) fee. This cost varies per item and can be calculated online.

How does WorldFirst help online sellers?
WorldFirst opens up international virtual receiving accounts for the countries you’re selling in. If you’re located in Singapore and selling on Amazon US, we will open up a US virtual account, which plugs into Seller Central. This means you can repatriate your USD at times that suit you, manage the risk of currency fluctuations and will achieve better exchange rates on your transfers.

How do people find my product?
Once your stock is with FBA and your listings are ready to go, you’ll need to drive traffic to your page to make sales and obtain customer reviews. One of the best ways to promote your products is through Amazon Sponsored Products.

Amazon Sponsored Products is a pay-per-click scheme that makes your product more visible in your category. The more orders and reviews you achieve, the higher you’ll rank in your category which should, in theory, mean less reliance on pay-per-click.

What are the steps to getting started on Amazon?
If you’re an existing business, or an individual thinking of selling through Amazon, the first step is to research the potential demand in that foreign market. A great place to start is browsing Amazon.com to get a feel for what’s doing well. Google key word search volumes, and tools like Jungle Scout, can also be used in the research and planning phase.

If you’re an individual looking to sell something new, sourcing your products and finding reliable suppliers is the second step once you’ve completed your research. Alibaba is a popular destination for sourcing products for Amazon.

Next, you’ll need to launch your Amazon listing:

1. Create an account 
2. List your product
3. Promote your products
4. Customer fulfillment – FBA
5. Register for an Online Sellers account with WorldFirst online

WorldFirst works with thousands of people selling on Amazon globally. Contact us for any questions relating to Amazon, foreign exchange or other marketplace selling.

 

Disclaimer:

These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement.

Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed.

All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice.

Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.

*Although World First has prepared the Information contained in this website with all due care and updates the Information regularly, World First does not warrant or represent that the Information is free from errors or omission.

Whilst the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and World First is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.

 

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