As we enter 2024, selling on Amazon—the e-commerce colossus—still stands as an attractive prospect for aspiring entrepreneurs. With a revenue of over $554 billion in 2023, a 10.32% increase from the previous year, it has had an explosive global market, where millions of sellers presenting a diverse gamut of products.

As a consequence, selling on Amazon can be a lucrative opportunity for anyone who wants to reach a massive customer base and generate an upright, valuable income stream. But how do you get started? How do you create an Amazon seller account, list your products, optimize your listings, price your products, fulfill your orders, and especially market your products?

Well, you don't need to be worried, as I got you covered. In this detailed guide, I'll disclose a step-by-step guide about how to sell on Amazon successfully in 2024 from scratch. Whether you want to sell food products, tech gadgets, electronics, clothes, books, art, antiques, or even sports goods, you'll find this guide handy.

Why sell on Amazon In 2024?

Amazon's dominance in 2024 as a massive selling platform. I'll show you, how? With nearly 40% share in the U.S. e-commerce market, which dwarfs that of its closest competitors, including Walmart and Apple, it's the platform where customers head first.

In fact, a whopping 51% of consumers kick-start their product searches on Amazon. That equates to a customer base of over 310 million worldwide, presenting an unrivaled opportunity for sellers to tap into a global market.

It's not just growing—it's accelerating!!! With average daily sales revenue hitting an astounding $1.4 billion, the platform offers a money-making opportunity for both small and large businesses that's hard to ignore. Amazon's astronomical growth continues day by day, bolstering your chance to meet and exceed your sales targets.

Likewise, Amazon takes a significant load off your shoulders when it comes to inventory management and customer service. They handle a substantial chunk of customer inquiries and complaints. This way, you can focus more on optimizing your product and enhancing customer experience.

Start with setting up your Amazon Seller Account

Choosing your plan: Individual or Professional

At a glance, there are two main plans: individual and professional accounts. Deciding whether to go with the individual one or the professional one is SO straightforward if you are aware of the right information. The Individual plan is an immaculate fit if you're an entrepreneur starting small with just a few items to sell. Conversely, if you're venturing into a larger-scale operation, I would recommend you go with a professional plan.

To open the Amazon seller account, Head over to Amazon Seller Central and click the blue 'Register Now' button. From there, you'll be directed to the 'Start Selling' option. Setting up a seller account doesn't require you to have a registered business initially, which is convenient for those who are testing the waters. Fill in your personal details, like your address and cell phone number, as well as your tax information.

Opening an Amazon FBA Account: If you're looking to lighten the load, consider Amazon's Fulfillment by Amazon (FBA) program. It's a game-changer, allowing you to focus on growing your business while Amazon handles the logistics of storage, shipping, and customer service. Opening an FBA account is a step toward scalability and efficiency.

Collecting key information

The key information includes your business email or existing Amazon customer account, a valid credit card, a government-issued national ID, your tax information, a phone number, and your bank account details for the proceeds from your sales.

Startup cost

When it comes to costs, the Individual plan will cost you a $0.99 fee per item sold. Meanwhile, the Professional plan comes with a flat monthly fee of $39.99, sans the per-item charge. Do note that there are selling fees for every item sold, and if you decide to leverage Amazon’s Fulfillment by Amazon (FBA) program, you might encounter additional fees for services like order fulfillment and storage.

What to sell on Amazon?

You can relate to it; one of the most important decisions you need to make as an Amazon seller is what products to sell on the platform that are in high demand, have low competition, and offer good profit margins. Well, this will entirely depend on your business model, goals, and audience. To help you with your product research, here are some examples of popular items and categories in the Amazon store based on the latest trends.

Beauty & Personal Care

This category includes products such as makeup, acne products, skincare, haircare, fragrances, and grooming tools. According to Statista, the global beauty market is expected to reach $716.6 billion by 2025, with online sales accounting for 20.3% of the total revenue. Some of the best-selling products in this category are facial cleansers, moisturizers, serums, masks, and brushes.

Kitchen & Dining

Cookware, bakeware, utensils, appliances, and tableware are all included in this category. According to Grand View Research, the worldwide cookware market was worth USD 30.60 billion in 2023 and is predicted to rise at a 6.2% CAGR from 2024 to 2030.  Air fryers, blenders, coffee makers, knives, and cutting boards are among the best-selling items in this category.

Automotive

Car accessories, parts, tools, electronics, car chargers, phone holders, seat covers, floor mats, microfiber cleaning cloths, portable air compressors, car interior cleaners, and dash cams. These are usually the best products to sell and can help you establish a solid reputation as an Amazon seller.

Clothing, Shoes & Jewelry

Apparel, footwear, accessories, jewelry, t-shirts, jeans, sneakers, sunglasses, and watches.

Electronics

In the modern world, everyone needs electronics, as they play a vital role in our daily lives. Computers, tablets, smartphones, cameras, headphones, speakers, laptops, wireless earbuds, smartwatches, and smart speakers.

Pet supplies

In 1988, only 56% of households had a pet, but surprisingly, according to 2023 data, 66% of U.S. households (86.9 million homes) own a pet. The numbers are increasing daily. The pet supplies category includes food, toys, grooming products, beds, and other accessories related to pets.

How to choose products to sell on Amazon

You are aware of a bunch of niches, but you need to work on those specific niches that do not have larger competition, yet still, the products in that particular category are profitable, popular, and easy to source. So, how do you do that? I have listed some tips to help you with your product research:

• Check the competition: You don't want to sell products that are too saturated or too niche, as both can limit your sales potential. That's why, in the start, try to stick with those products that have moderate competition but also have room for improvement and differentiation. You can check the competition by looking at the number of reviews, ratings, and prices of similar products on Amazon.
• Use Amazon's tools and features: Amazon offers various tools and features to help you discover and analyze potential products, such as the Best Sellers list, the Movers and Shakers list, the Amazon Keyword Tool, and the Amazon FBA Calculator. You can use these tools to figure out what products are selling well, what keywords are relevant, and what fees and profits you can expect.
• Validate the demand: You want to sell products that have consistent and growing demand, not seasonal or fad products that can quickly lose popularity. You can validate the demand by using tools such as Google Trends, Jungle Scout, and Helium 10, which can show you the historical and current trends, demand, and sales of various products and niches.
  
  Once you decide on the product and have a clear business strategy, you can start generating decent margins and gradually branch out. Your selling strategy should be something you’re comfortable with. For instance, some sellers find success in focusing on a product that generates sales right away, subsequently branching out into other areas. It's about understanding your capacity and playing to your strengths.
  
  

How To Sell On Amazon: Step-By-Step Guidelines

Understanding Amazon's policies, guidelines, & fees

Amazon is a well-oiled machine, and its policies and guidelines are the oil that makes sure the engine runs smoothly. To ensure you're operating within the rules, make use of Amazon’s Seller Central, which offers an extensive section to keep you well informed.

From business credit reports to program policies and business solution agreements, this resource is vital for your success. Besides, understanding the fee structure is key for your business model. Amazon has various fees, including selling plans, referral and fulfillment fees, storage and shipping fees, inventory fees, and refund administration fees. By reviewing these in detail, you can keep your business profitable and avoid potential surprises.

Develop a business Model

Once you've got a handle on Amazon's policies and fees, it's time to define your selling strategy and business model that suits your goal, budget, and resources. A business model is a plan that describes how you will create, deliver, and capture value from your products.

Are you planning to create your own brand, or do you prefer to resell products from other brands? Your answer directly shapes your approach and can affect everything from inventory management to marketing efforts.

You should develop a clear and realistic business model that outlines how you will source, brand, and price your products and how you will differentiate yourself from the competition. You should also test and validate your business model before you launch your store by doing market research, getting feedback, and creating a minimum viable product (MVP).

Choose a fulfillment method

The next step is deciding on a fulfillment method for your Amazon business. Fulfillment pertains to how you store, pack, and ship your products. Amazon offers two main options: Fulfillment by Amazon (FBA) and Fulfillment by Merchant (FBM):

• FBA
  
  If you opt for FBA, you're entrusting Amazon with the lion's share of your logistics. You send your products to Amazon's warehouse; they handle the rest—storage, packing, shipping, and even customer service. The chief advantage of this method is time-saving; you're free to focus on other aspects of your business. Plus, your products earn Prime status, making them more appealing to Amazon's large pool of Prime members. However, it's important to note that this convenience comes with an added cost in the form of Amazon FBA fees.
  
  
• FBM
  
  FBM means that you're at the helm of your logistics. If you choose this route, you'll be responsible for organizing, storing, packing, and shipping your products. Essentially, selling on Amazon would be similar to selling on your own website. This approach might require more effort, but it offers you full control over your logistics and can save on Amazon's FBA fees.
  
  

Find a trusted supplier

The quality of your supplier can make or break your Amazon business. So, how to find a reliable one? Start by asking for samples of the product. This allows you to evaluate the quality firsthand. Also, inquire about prices, not just with one supplier, but with several. This will help you to compare and determine who offers the best value for money.

When you find a supplier that meets your quality and price requirements, negotiate a deal that is mutually beneficial. After receiving your order, check the products for any quality defects. This step is crucial as it directly impacts your customer satisfaction and your Amazon rating.

List your product

Listing your product is the process of creating and publishing your product page, which includes the product title, description, images, price, and other details. To list your product, you need to:

Find or create a product identifier: A product identifier is a unique code that identifies your product, such as a UPC (Universal Product Code), an EAN (European Article Number), or an ISBN (International Standard Book Number).

You need a product identifier to list your product on Amazon unless you are selling in a category that does not require one, such as handmade or collectible items.

Purchasing UPC & EAN Barcodes from resellers

For every product you intend to sell, you need a unique identification number, which must be GS1-compliant in most categories. In case you want to sell on Amazon and eBay, you need UPC and EAN codes for your desired product.

You can purchase them from the GS1 official store, but all the UPC and EAN barcodes you purchased from the GS1 official store are expensive, and you have to pay the annual renewal fee, too.

That's why I would recommend you purchase your UPC and EAN barcodes from a reseller, where you can purchase barcodes at a cheaper price. Millions of users trust re-sellers, and in fact, their barcodes didn't expire; they are GS1-registered and simply work pretty well on major marketplaces, including Amazon and eBay.

One of the best re-sellers is barcodestock.com. Here you'll find two types of barcodes: UPC, which works in the United States and Canada, and EAN barcodes, which work in Europe; the good thing is you don't have to pay any hidden fee, annual renewal fee by purchasing barcodes from www.barcodestock.com.

Save and publish your listing: Once you have entered all the product information, you need to save and publish your listing by clicking the «Save and finish» button. Your listing will be live on Amazon within 15 minutes, and you can start selling your product to millions of customers.

Manage your inventory

Managing your inventory is nothing but keeping track of your stock levels, restocking your products, and avoiding stockouts or overstocking. In a massive marketplace like Amazon, you have to be quick and efficient, as you don't want to miss a sale opportunity. To manage your inventory, you need to:

• Monitor your inventory levels: You should regularly check your inventory levels on your Seller Central dashboard under the Inventory tab. You can see how many units of each product you have in stock, how many units are reserved for pending orders, and how many units are available for sale.
• Replenish your inventory: You should replenish your inventory, especially if you are using FBM, before you run out of stock, as stockouts can hurt your sales, rankings, and reviews. You should estimate how long it will take to reorder and receive your products and plan accordingly.
• Adjust your inventory: Well, that's where seasonability and demand come into play, as they both influence sales performance and your goals. In that case, I would recommend you, always pay bigger attention to increase your inventory for your best-selling products and reduce your inventory for your slow-moving products.

Optimize your product listings

A well-optimized listing can directly influence your particular SEO strategy. This way, you'll be able to rank higher on Amazon search results, which every Amazon FBA seller aims to occupy. I have listed some tips and tricks that you can utilize in order to boost SEO and, likewise sales.

Use relevant keywords: Every single individual that comes across Amazon search results uses a specific set of keywords, so don't neglect this step, and try to use relevant keywords in your product title, descriptions, bullet points, and backend search terms. This will not only help you rank decently better, but will also assist customers to find your product effortlessly.

Provide clear and compelling content: In the product description, you can add more relevant keywords, and this will also help from an SEO perspective. You can mention your target audience keywords, too in your product description to clarify whom your product is intended for. Additionally, write the description in a compelling and easy way, so everyone can understand what you want to portray. Besides, don't forget to include the Key Specs of your product, including product dimensions, weight, material, etc.

Optimize your brand presence

Amazon allows you to create an Amazon seller account and list your products but doesn't guarantee it is well optimized, and the frequency of sales is not in your control. That's why, you have to make efforts to get the most out of Amazon.

The brand value increases if your store products have a unique logo, slogan, packaging, and design. You not only have to pay attention to your store's visual appearance but also to customer service, advertisement, product quality, an attractive storefront, and competitive pricing, too to keep your brand presence in check.

For advertisement, you can use strategies including email marketing, social media marketing, and content marketing, and if you are really smart, and own a YouTube channel, you can even influence your audience to use your products.

Important factors to keep in mind when selling on Amazon

Whether you are a beginner or a pro looking to start an online business, selling on Amazon FBA can seem like a lucrative option. However, it's not as simple as listing your products and watching the sales roll in. You have to consider several critical factors. I've listed some of these below to give you an idea about what you need to keep in mind when starting selling on Amazon.

Budget — understand your financial outlay

Specify your budget, and do everything according to it. This will lessen your stress, and help;p you grow your business from scratch to the peak. From setting up your Amazon account, whether FBA or FBA, to sourcing products and paying Amazon fulfillment center fees and marketing expenses, you should have a clear budget and mindset.

Product quality — customer satisfaction is key

Don't directly rush into selling products on Amazon without understanding the quality of your product; this way, you'll lose most of the potential buyers and won't get as good feedback and reviews as you could. So, don't prefer to lower down the product quality to get the most margin. Instead, Your product's best-seller rank can skyrocket if customers find it reliable and worth their money. So, choose the right product to list in your seller's account, one that you are confident about in terms of quality.

Logistics management — streamlining for success

When you sell on Amazon FBA, you're relying on Amazon to store, pack and ship your products. You need to keep track of your inventory using the Amazon Seller app and plan restocking to avoid running out of products. Be mindful of Amazon's rules regarding restricted products and the number of products you can have in an Amazon fulfillment center.

Marketing — making your product the star

There isn't anything wrong with saying that even the right product needs the right exposure. With thousands of product categories and millions of products, standing out on Amazon is challenging. You must optimize your listings, use high-quality images, and write compelling product descriptions with top-notch relevant keywords.

Frequently Asked Questions (FAQs)

Frequently Asked Questions About how to sell on Amazon successfully in 2024

1. How can I sell faster on Amazon?

To speed up your sales on Amazon, you need a multi-pronged approach. Start by optimizing your product listings with accurate descriptions and high-quality photos. Do online advertising to increase your product visibility. Focus on order fulfillment and shipping to keep customers happy. Make sure you always have products in stock. Expanding your customer base to different regions can also boost your sales. Lastly, work on earning high-quality reviews as they can significantly influence purchasing decisions.

2. How can I increase my Amazon sales quickly?

Increasing your Amazon sales rapidly depends on multiple factors. Optimizing your listings for search, using high-quality images, and writing compelling descriptions can make your product more appealing. Additionally, excellent customer service, quick response times, and positive customer reviews can increase your credibility and attract more shoppers.

3. Is Amazon FBA really profitable?

Amazon FBA can be incredibly profitable. Sellers often see an increase in sales by an average of 20-25% after adopting FBA. This is because Amazon handles storage, packaging, and shipping, allowing you to focus on other aspects of your business.

Conclusion — A few final thoughts!

All in all, Amazon is a great platform to start your online business, but it requires hard work, dedication, and constant attention to detail. By optimizing your listings, providing high-quality products and excellent customer service, planning your budget carefully, managing logistics efficiently, and effectively marketing your products, you can successfully sell on Amazon and achieve your business goals. With the right strategy, you can create an impactful brand presence on Amazon and make it a profitable and sustainable venture for years to come.