By Alicia Fiorletta, Senior Editor
Many third-party sellers are turning to Amazon to extend their brands and bring their products to more customers. With an active user base that now exceeds 244 million, I can’t say I blame businesses of all sizes for trying to get a piece of the Amazon pie.
But how can organizations optimize Fulfillment By Amazon (FBA), and ensure inventory management, product sourcing and repricing are efficient and drive growth?
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Teikametrics delved into a few best practices with an E-book, called: Mastering Fulfillment By Amazon.Here, I’m going to outline a few key takeaways, but in the end, I’ll let the piece speak for itself.
1. How does FBA work? First things first, for those of you who don’t know, here’s a breakdown of what FBA is all about. As a part of the FBA program, sellers leave all the heavy lifting (such as picking, packing, shipping, returns and customer service) to Amazon. Cool, right? Sellers simply ship products to Amazon, and then store inventory and list it on the site. Amazon takes care of the rest!
2. Why is FBA valuable? You can reach more customers that already trust and love Amazon, and in turn, are very eager and willing to shop on the site. In addition, you get access to Amazon Prime Members, who receive free two-day shipping on FBA products.
3. What are some secrets to success? I’ll only give you a few! (You have to check out the E-book to get the rest.) As a third-party seller, part of the job is scouting and selling profitable products to add to your selection. Most importantly, you need to constantly track and measure sales and identify top-performing products. Then, you need to make sure these popular products stay in stock and nix the not-so-popular ones. It’s as easy as supply and demand!
Want to learn more about how you can maximize profits with FBA? Check out the E-book to learn more!
