Sunday, April 21, 2013
Money Magazine Survey - Amazon Ranked Highest Overall by Online Sellers
In the May 2013 May issue of Money Magazine, there is an article titled "Getting the Best Price for Your Castoffs" that explains the differences between different online marketplaces. Choosing the right venue is the key to getting the best price for your item. Based on the 2013 Sellers Choice Survey provided by Ecommerce Bytes, Amazon scored the highest overall, and the highest for profitability and communication.
Many eBay sellers understand that eBay is limited in its capacity to help them sell items online. eBay is definitely the best venue to sell collectibles, one of a kind items, and items truly limited in number such as event tickets or autographed items. Also, since Amazon restricts some categories, and most sellers are not approved in those categories, items like clothing, shoes, jewelry, automotive items, and electronics will have to go on eBay. Amazon is best for used and new media (with the exception of rare, collectible, or very high priced items), retail items including health and beauty items, toys, groceries, office supplies, and other consumer goods new in the box or new in the package. Most sellers who sell on both sites will agree that Amazon's payment system has a lower "hassle factor," and the explosive growth of both the Amazon FBA System and the number of Prime Buyers are fueling their Amazon businesses nicely.
Understanding the different marketplaces and choosing the right one for your item will help you make more money and save time in the long run. In fact, Money Magazine quoted me on this (page 32):
Many of you reading this are striving to make online selling a significant income stream, or maybe your only source of income so that you can enjoy more freedom and flexibility in your own life. Knowing how to sell on both eBay and Amazon will help you reach that goal. Once you are proficient in selling on both sites, the world will open up to you and you will have more opportunities to sell items no matter where you find inventory. For example, I source items from just about everywhere including garage sales, thrift stores, retail stores, closeout stores, Craigslist, online retailers, eBay to sell on Amazon, Amazon to sell on eBay, etc. Selling online is a skill that you must develop and practice, and the more you know about how to sell online, the more successful you will be, and the more money you will make.
If you are an eBay seller and haven't tested the Amazon waters yet, here are a few FREE resources to get you started:
Podcast - Getting Started on Amazon
Free eBook - 90 Day Amazon Experiment
Amazon Help - How to List an Item on Amazon
If you are dabbling with Amazon and want to get more serious and take your business to the next level, you may want to enlist the help of an experienced seller to help you. Hiring an expert can save you time, money, frustration, and help you succeed faster than if you had to figure out the business on your own. I have been selling on Amazon since 2009, have sold over 25,000 items, and have learned a lot about this business by trial and error, experimentation, and spending time doing things that didn't work. I offer the following services to help you learn the Amazon business:
Amazon FBA Recipe for Success (downloadable course)
The opportunities provided by ecommerce will only continue to grow as technology continues to advance and consumers continue to consume. Be prepared so you can seize this opportunity to make money from the comfort of home.