AF 333 - Is selling on AMAZON FBA too Saturated in 2024 🤔
You heard that you can sell products on Amazon to make money.
Have you wondered if it was too saturated, too difficult, or too expensive to get started?
Today, I am going to talk about the Amazon FBA opportunities that are still available to you and how you can sell on Amazon in a different way without all the crazy competition or saturated categories.
Ready? Let’s get started!
Navigating the Saturated Seas of Amazon: A Seller's Guide to Success in 2024
Hey Hey fellow entrepreneurs and e-commerce enthusiasts!
I'm Kristin Ostrander, your guide through the intricate world of online selling, and the voice behind the Amazon Files podcast. With over two decades of e-commerce experience under my belt, I've seen the landscape evolve dramatically. Today, I want to share with you some invaluable insights from my latest podcast episode, where we delve into the realities of selling on Amazon in 2024, the art of wholesale bundling, and the importance of sustainable business growth.
Understanding Amazon's Saturated Market
Amazon's vast marketplace is a double-edged sword. On one hand, it offers an unparalleled customer base; on the other, certain categories are brimming with competition. It's crucial to recognize that while some areas are saturated, opportunities to thrive still exist. The key lies in understanding the nuances of selling on Amazon, from the fees and competition to the strategic selection of products.
The Fees and the Competition
Selling on Amazon isn't free of costs. High fees can take a significant bite out of your profits, making it essential to be well-versed in the financial aspects of your business. Competition is fierce, especially in categories flooded with common, everyday items. But don't let this deter you; instead, let it guide your product selection strategy.
Choosing the Right Products
While it's wise to steer clear of saturated categories like supplements and injectables, due to high risks and barriers to entry, there's a plethora of products waiting to be discovered. From automotive parts to unique fashion items, the Amazon ecosystem is rich with potential. It's about finding those less saturated niches and making them your own.
The Power of Wholesale Bundles
One strategy that has significantly impacted my business approach is wholesale bundling. This involves pairing private label products with wholesale items to create bundles that are not only complementary but also aligned with customer needs.
Crafting the Perfect Bundle
Creating a successful bundle isn't about randomly throwing products together; it's a thoughtful process of understanding what customers are looking for. Take, for example, a new puppy supplies kit for dog lovers or a healthy snack variety pack for adults. These bundles offer convenience, variety, and value—qualities that Amazon customers are always seeking.
The Benefits of Bundling
Bundling can lead to increased profit margins and reduced fees. It's a strategy that allows you to differentiate your products in a crowded marketplace. Plus, it's scalable and lower risk compared to traditional wholesale and retail arbitrage methods.
Embracing Long-Term Success
In the fast-paced world of e-commerce, it's easy to get caught up in the pursuit of quick profits. However, I've learned that true success comes from slow and steady growth, adhering to industry rules and regulations, and building a business that lasts.
Leveraging Prep Centers and Virtual Assistants
By utilizing prep centers and virtual assistants, you can manage your business more efficiently. This hands-off approach lets you focus on strategic growth while still maintaining control over the quality and consistency of your bundles.
Continuous Learning and Adaptation
The e-commerce landscape is ever-changing, and staying adaptable is non-negotiable. I encourage you to visit the Mommy Income website for free training on wholesale bundles and consider the Start FBA Today (SFT) course if you're just beginning your journey.
A Heartfelt Thank You
I want to extend my deepest gratitude to all of you who tune into the Amazon Files podcast. Your support means the world to me, and I'm committed to bringing you the latest content on not just Amazon, but also eBay and estate sales.
Remember, the path to success on Amazon in 2024 is paved with knowledge, strategy, and a focus on sustainable growth. Keep learning, keep adapting, and let's continue to grow together.
Thank you for reading, and don't forget to subscribe for more insights and free training. Let's connect through Mommy Income and navigate the exciting world of e-commerce with confidence and clarity.
WATCH/LISTEN NOW:
“I didn't grow fast; I grew steady. I started to change methodologies until I found one that worked for me. And you can too. Slow and steady wins the race!” - Kristin Ostrander
TIME STAMPS:
Is Amazon too Saturated? (00:00:00)
The speaker introduces the topic and provides an overview of the questions to be addressed in the episode.
Introduction and Expertise (00:01:06)
The speaker briefly introduces herself, her expertise, and the content she plans to share in 2024.
Amazon's Saturation (00:01:55)
The speaker discusses the saturation of Amazon, highlighting the presence of various sellers, international suppliers, and the wide range of products available.
Amazon Fees and Realistic Expectations (00:03:45)
The speaker discusses the fees associated with selling on Amazon and emphasizes the need for realistic expectations in the e-commerce business.
Categories and Barriers to Entry (00:06:13)
The speaker discusses specific categories, risk factors, and barriers to entry for sellers on Amazon.
Opportunities for New Products (00:08:46)
The speaker explores opportunities for new products, including the gift market, private label, bundle packages, and wholesale bundles.
Business Scalability and Delegation (00:10:36)
The speaker discusses business scalability, delegation, and the importance of understanding one's strengths and weaknesses in running a business.
Retail Arbitrage and Wholesale (00:13:43)
The speaker shares her experiences with retail arbitrage and wholesale, highlighting their profitability and challenges.
Margin Game and Selling Strategies (00:15:31)
The speaker discusses the margin game, the challenges of private label, and the benefits of selling wholesale with higher margins.
Conclusion and Personal Experience (00:16:19)
The speaker concludes by sharing her personal experiences with retail arbitrage and the challenges of obtaining inventory.
I hope this helps! Let me know if you need anything else.
Wholesale Bundles (00:17:09)
Combining private label with wholesale, increasing margin, and avoiding saturation through complementary items.
Bundle Examples (00:18:07)
Showcasing examples of wholesale bundles, including puppy supplies kit, healthy snack variety pack, and ukulele beginner bundle.
Reasons for Bundle Success (00:21:33)
Explaining why bundles are better, not saturated, and how they provide convenience, variety, and lower risk.
Customer Behavior and Psychology (00:25:00)
Discussing customer decision-making, rationalizing prices, and the preference for variety and options.
Bundling Strategies (00:29:16)
Providing insights into creating bundles from various sourcing methods, including retail arbitrage, wholesale, and private label.
Scalability and Competition (00:31:48)
Comparing scalability and competition in different sourcing methods, highlighting the challenges of saturation and differentiation.
Scalability of Wholesale Bundles (00:33:38)
Explains the scalability of using a prep center for bundle assembly and the benefits of being hands-off.
Benefits of Selling Bundles (00:34:30)
Discusses the reasons why selling bundles on Amazon makes sense, including low risk, variety, and eliminating competition.
Teaching and Training (00:35:28)
Promotes the Mommy Income courses for beginners and those interested in wholesale bundles, and encourages subscribing for updates.
Future Plans and Thank You (00:36:28)
Shares excitement for upcoming content, encourages subscription for free training, and expresses gratitude to listeners.
RELATED CONTENT LINKS
- FREE Masterclass: How to Confidently Start & Scale An Amazon Business
- JOIN MY LIST
- LEARN FROM ME
- Why Wholesale Bundles?
- Best Tools for FBA Sellers!
Thank you for stopping by! See you next week.
Latest Blogs
