Day 1: Why Sell On Amazon?
Reading Time: 5 Minutes
Goal: By the end of Day 1 you’re convinced that you need to build an Amazon Business and excited for the future lessons to come!
Notes: All resources and links mentioned will also be made available at the end.
Welcome to Day 1 of the “How To Find & Launch A Profitable Product on Amazon in 7 Weeks” email series sent to your inbox across 7 days. Signing up shows initiative and we’re excited to foster you along this journey!
If you’re here its usually because of these 3 reasons:
- You hate your job and/or want to build a business where you get to design your ideal lifestyle
- You want more time to spend with family and friends and pursue hobbies
- You want additional income for your family
It was all the above for me. Who am I? My name is Vijay Jacob (or Jacob to most folks), living in fun Brooklyn with my wife & 4 month old daughter and between trying to make my daughter smile, I run FosterFBA.
If you don’t want to spend 7 days figuring out your Amazon FBA business, then we have THE BEST step-by-step course for selling on Amazon by a top mentor. You can join that course right now! Psst. we’ve even got a $50 off coupon just for you! Use: FOSTERFBA50 🙂
Without much ado let’s get into why selling on Amazon is such a great idea?
Well, Amazon has become the worlds largest online retailer. That’s why. If you haven’t started selling there you are missing out on huge opportunities.
Here are some stats for you to chew on:
- Valuation = $247.6 Billion Dollars
- Annual Revenue from Book Sales = $5.25 Billion Dollars
- Unique Monthly Site Visitors = 184 Million
- Number of items shipper per second = ~35
- Avg Amount spent per unique user = $189
- Loss to Amazon when their website went down for 49 minutes = $4.8 Million Dollars
184 million site visitors in a month? These are actual numbers of people looking to buy products. That’s what makes this marketplace so appealing – as a seller you don’t have to worry about finding buyers, the buyers find you. But you will need a good product that is in demand, an optimized listing, and a competitive price point.
Amazon has also become a symbol of trust in the customers eye. They have built such a strong level of credibility that you or I cannot replicate as a new merchant. Customers trust that if they purchase something on their site, it will arrive on time, and if the contents are not as advertised, Amazon will take care of getting it returned and the money refunded back to the customer. So as a seller you can get your product on Amazon and since Amazon facilitates the sale – they automatically pass their credibility on to you as a new seller. It is also super simple to open up a seller account, get approved, and be selling on their platform as soon as you send your product to their warehouse.
This is invaluable and what makes Amazon such a great marketplace to build your business. In tomorrow’s lesson, we will go into one of Amazon’s business models and why it is one of the best business models in the world to use.
See you in tomorrow’s lesson on Amazon FBA or you can click here to read the next lesson now.
P.S: Our expert Amazon FBA seller has opened the doors to his course again, you can check out the Amazon FBA course details here. (Use coupon FOSTERFBA50 for $50 off!)