Are you selling your products on Amazon (NASDAQ:AMZN)?
If you are not, here’s a good reason to consider the platform. During the recently held third annual Prime Day event, customers ordered more than 40 million units from hundreds or thousands of small businesses. This was up from 20 million units sold last year.
Small Businesses Win Big with Prime Day 2017 Sales
Small businesses offered deals on everything from apparel to toys, household goods and handmade items. Many businesses, in fact, experienced their largest sales day ever.
Small business owner, Lawrence Bibi, CEO of LightAccents, a seller of lights and decor, said, “LightAccents had a fantastic Prime Day. It was our best sales day in over two years.”
What Prime Day Has to Offer to Small Businesses
An increasing number of small businesses are leveraging Prime Day to boost sales during a historically slow time of the year. But that’s not the only reason for small businesses to look forward to the event.
Prime Day also helps small businesses prepare for the upcoming holiday season.
Ben Arneberg, co-founder of Willow & Everett, said, “Overall, for the Prime Day event (all 30 hours), we saw about 20 times more overall sales. This is a huge benefit to our business, as it gives us exposure to thousands of new customers, and helps us with cash flow as we ramp up on inventory for the Holiday Season.”
Why Small Businesses Should Consider Selling on Amazon
As one of the largest ecommerce companies in the world, Amazon provides a lucrative platform for small businesses.
Not surprisingly, therefore, a growing number of small businesses (73 percent) today are considering selling on Amazon.
If you are interested in sourcing products to sell on Amazon, you must remember that it’s somewhat different than looking for products to sell on eBay and similar auction websites. Depending on the type of products you are trying to sell, there are certain things you need to keep in mind.
If you want to source products overseas, you may try online wholesalers such as Alibaba (NYSE:BABA). It’s important for you to look into Amazon’s FBA service to handle the fulfillment side of your business and also secure a good rank on Amazon.
With a well-defined strategy, you can make the most of Amazon and reap benefits during events such as Prime Day.