How to start selling on Amazon Singapore?
The pandemic has proved to have an immensely amazing impact on the online shopping and eCommerce sector.
As more and more digitization is fusing into the ways of the world, consumers have gotten used to the comfort offered by everything being available online.
With this, it is a known fact that Singapore implemented one of the most strict lockdowns in the entire world, which also means that the online and eCommerce industry got a great boost during and after the pandemic.
However, it is still seen as a comparatively fresh player in the market in Singapore. Although, selling on Amazon Singapore can prove to be colossally advantageous for medium and small-sized businesses.
By becoming an Amazon seller Singapore, your products get are marketed on a wide platform, a smooth payment processing, and have tight protection against any fraud.
To become an Amazon seller Singapore, the first step is to register or create a seller’s account on Amazon’s Seller Central.
Fill out the form with all the important details — this process has multiple steps and would take approximately 20 minutes. Your seller’s account will need to be verified twice with an OTP (one-time password).
You are then supposed to click on the ‘Product Information tab and there you will have to answer a few questions to determine whether you should go ahead as an individual seller or get a professional selling account.
If you are registered as a Professional Selling subscription account, Amazon gives you the option to add all your selling items together to their Marketplace catalog.
However, if you don’t have a professional seller account, you can always list your items one by one. While uploading your products on the platform, make sure that none of the items are on the prohibited list.
Whatever of the two options you use, you need to be extremely careful with the details and description of the products you put out. Give the consumer complete information.
Also, you can either take the shipping of products on your own or you can use the Fulfillment service offered by Amazon.
To verify you as a seller, Amazon asks for some documents, like the company representative’s identity verification document, bank account statement, or credit card statement.
Ensure that the company name matches the name which was filled in the registration form. The required documents must be submitted in one of these languages: Chinese, English, French, German, Italian, Japanese, Portuguese, or Spanish.
After all the formalities and product listing is done, you need to set a billing method. Every item/product you sell from Amazon is charged a selling fee.
This fee is debited from an internationally chargeable credit card, this means to sell on Amazon you will have to give them a valid and working internationally chargeable credit card.
Along with this, as an Amazon seller Singapore, you are also required to submit your business bank account details where Amazon would credit your sales revenue.
Once you start selling on Amazon Singapore, in order to grow and make further decisions related to the what, why, and how of selling the products you have to track your business’s performance on Amazon.
Amazon itself provides some metrics to know how your business is performing, however, you can still use some external tools for the same, as well.
Related read - How to sell on Lazada Singapore?
To increase the promotion and awareness about your products listed or brand on Amazon you should use the Sponsored Ads suite of advertising services which are offered by Amazon itself.
You just have to choose the products you want to advertise, choose and assign relevant keywords and then bid a cost-per-click amount.
What happens is, that when a buyer searches for one of the keywords associated with your products, along with the search results, advertisements are also displayed on their screen.
If a buyer clicks on the ad then it leads to your detailed product page which contains all the information about that product. For these services, there is a particular fee that is charged only when the buyer clicks on your ad.
The only way your product would list on top would be when you use the right keyword and optimize your product descriptions according to what will attract or fulfill the demands of the customers the most.
Your aim is to convert your page visitors into customers. The hack here strikes a balance between using the keywords as much as possible along with maintaining the easy readability of your listing’s content.
You can hire professional content writers to match all criteria of writing product descriptions. Make sure that the keywords are listed in your title and that all other important information that the buyers usually focus on like price, material, shelf life, etc., are clearly listed.
When a new buyer visits your product page, they usually tend to see the reviews posted by other customers. In order to get more reviews, follow up on each order and ask your customers to share their buying experience.
Feedback ratings on your products are a solid way to build trust among people for your brand. Always try to be ahead of your competitors and look for chances to make more sales with this method, because Amazon is a highly review-driven ecosystem.
Once you become a seller on Amazon, it is advised to enable the Fulfillment by Amazon (FBA) feature for your brand, offered by Amazon.
This will give you the channel to leverage Amazon's fulfillment network and give your customers offers like free shipping and Prime discounts.
The products you are selling have to be sent to the Amazon fulfillment centers from where those products will be packed and shipped to the customers.
When a buyer is shopping online, they would obviously look for discounts, promotions, free shipping, percentage off, etc.
It has been seen that when free shipping is offered on the purchase of products mainly above the total of $35, encourages the shopper to buy more items.
So this has become a regular feature offered by Amazon. Use these promotions and you can also create some of your own and attract customers to come back to buy products from your brand.
To become the top brand selling on Amazon Singapore, all the above information would prove to be immensely helpful. However, there is one other factor that needs to be majorly analyzed- Marketing Spending.
Every business aims to minimize its costs and reap the maximum benefits. In order to do so for your business marketing expenses, the best solution is to use a spend management system like Volopay.
Volopay is an all-in-one financial management platform that caters to all the financial needs of businesses. It can help you effectively manage your marketing spending with virtual cards.
Businesses can assign recurring or one-time payment virtual cards to different marketing subscriptions.
You will no longer have to worry about managing money for different subscriptions, the cards can be set on a recurring payment mode, and the payments would be made automatically.
There are many more features like accounting integrations, an easy reimbursement system, real-time transaction visibility, and much more.
Suggested read: Guide on how to sell on Shopee and improve your business sales