There are a lot of moving parts to growing a financially successful Amazon sales channel. While most anyone can sell on Amazon, selling profitably is a completely different ball game.
Regardless of what you sell, whether your business is big or small, there are common characteristics that are shared by financially solid Amazon sellers.
Today, I want to share 8 traits of a financially successful Amazon seller with you.
1. They know their numbers. Financially successful Amazon business owners review their P&L (profit & loss) report each month.
- Knowing your expenses, controlling your expenses, and knowing your bottom line profit every month is key to building a solid, profitable business.
- They know what their gross sales are, but more importantly, they know what their net profit is. There are many Amazon sellers out there who are barely breaking even or, are losing money each month.
- Successful Amazon sellers calculate all COGS (cost of goods sold). They know which products are profitable and which aren’t. If you’re not including all your product costs (not just inventory costs and Amazon fees) when sourcing your products, you’re not making as much money as you think (in fact you’re likely losing money).
- They make informed business decisions based on results. They don’t wing it.
If you’re wondering how to grow your Amazon sales in 2017, these are the top four growth opportunities on Amazon this year.
In this 13 minute video, you’ll learn what these top 4 opportunities are, and how they will help you build a more solid, profitable, Amazon sales channel in 2017.
Major news from Amazon today. Effective immediately Amazon has banned ALL incentivized reviews.
This means NO more:
- Discounted Reviews
- Free Product Reviews
- Review Services
- Review Clubs
- Review by Family or Friends
I’ve been predicting this would happen for the past two years. I suspected it would happen before Q4 2016.
It finally has and it’s a good thing.
This had to happen because too many ill-intentioned sellers abused the review system. And it’s killing the credibility of the Amazon marketplace. read more…
I’m seeing recommendations on FB tonight that the way to “fly under the radar” with Amazon brand restrictions is to list the restricted products in bundles with your own UPC.
DON’T do this!!!
1) Do NOT list restricted brands in a bundle, thinking that will “hide” those branded products from Amazon.
A brand is STILL restricted whether it’s being sold individually or in a bundle.
2) Amazon has software that does nothing but scan listings looking for restricted brands.
And if you don’t list the brand names in your title and Feature Bullets your page won’t get ranked, so there’s no point trying to sell a name brand bundle without the brand name.
3) “Flying under the radar” is not within Amazon’s TOS.
DON’T try and “fly under the radar.” for anything!
Sourcing, pages, reviews, ANYTHING.
If a brand you are selling has been restricted by Amazon, follow their process for getting approved or stop selling that product.
Yes, it’s going to be an expensive proposition in some cases, especially if you have depth of inventory.
But violating TOS is not worth losing your Amazon account over.
You don’t need to cheat to compete. -Lisa Suttora
I’ve had a lot of people ask about the Inventory Health Report and how it plays a part in identifying rejected ASINs.
Below is a complete explanation of what this report DOES and DOESN’T do, and how it plays into the rejected ASIN issue.
Amazon has added a new field in the Inventory Health Report called “ASIN Limit” (you’ll find this report under the Reports Tab in Seller Central).
Amazon states that the ASIN Limit field will give you “Your inventory limit for ASINs where we apply an inventory capacity limit.”
What This Report Does/Doesn’t Do
To date, I’ve talked to 35+ merchants who have had ASINs rejected this week (and looked at my own report) and here’s the deal:
1. Currently Rejected ASINs: So far, in not one case, has the ASIN Limit report listed an ASIN that was rejected in a merchant’s shipment this week.
NOTE: If you’ve had an ASIN rejected that WAS on the ASIN Limit list, please post below.
2. Blank ASIN Reports. 99% of the merchants I’ve talked to have BLANK ASIN Limit reports (including me). Is your ASIN Limit report blank? If so, please let me know in the comments below! read more…
In what has been a shocking experience for many sellers, this week Amazon began randomly refusing to allow shipments of certain ASINs to FBA.
Late this week, merchants began receiving this error message while trying to process their FBA shipments:
“You are already at the maximum inventory allowed for this product, due to capacity or other restrictions. This product must be removed from this shipment.”
A quick call to Seller Support confirmed that this is not a system glitch.
Seller Support confirmed that Amazon is now restricting shipments of specific ASINs into FBA due to low sales thresholds:
Our FBA Business Team has classified this as a product that does not meet our sales threshold to be sent to the Fulfillment Center. Due to this, a restriction has been placed on the product that will not allow it to be sent to the Fulfillment Center until it meets the sales threshold.
We offer the option to sell the product as merchant-fulfilled until the sales threshold is met. Unfortunately, we are unable to offer exceptions to this policy at this time.”
However, many sellers are reporting that fast moving items with with Amazon Best Seller Ranks of 5000, 3000, even 1500, and with very little/no inventory in FBA are also randomly being rejected for FBA shipment.
In some cases, sellers aren’t able to read more…