Amazon Sellers Going Global On Amazon: Top Tips By Jason Kumpf

Amazon Sellers Going Global On Amazon: Top Tips
By Jason Kumpf
Amazon provides some of the best features and facilities allowing their sellers to easily expand their business in global marketplaces. To some, global expansion may seem as a nice opportunity while to others it may seem an intimidating process. Currently, there are 11 Amazon Marketplaces: U.S., Canada, Mexico, U.K., France, Germany, Italy, Spain, Japan, China and India. These marketplaces cater to the needs of specific global markets and hav7e unique websites dedicated to them.
Benefits and Opportunities
As a seller, it is very hard to establish trust among the customers while catering to all their needs and grievances. Going global on Amazon has certain advantages that can ease the process, some of which are listed below:
1. Brand Name: The prime benefit of going global on Amazon is the trust that customers have in Amazon. The company has a reputation of fast delivery and great customer care. Using the Amazon brand name considerably lowers the cost of building your own website – and reputation – in a completely new market.
2. Amazon European Marketplaces Account: If you are thinking about taking your products out in the European market, the Amazon European Marketplaces Account is the best option for you. This account allows you to easily manage products for all the supported European Marketplaces in one place.
3. Increased Customer Reach: International markets make up for about 40% sales on Amazon. Apart from that, sellers often receive queries about their products from global customers. So, you can target the marketplace where the number of customers interested in your products is higher and plan an expansion.
4. FBA Local Language Customer Support: Fulfillment by Amazon not only allows you to store and sell products from their warehouses, but also gives you access to Amazon’s 24/7 customer support services in the language your customers speak. This in turn allows you to concentrate on your business while Amazon takes care of your customers.
5. Amazon Currency Converter for Sellers: The ACCS or the Amazon Currency Converter for Sellers tool has simplified Amazon’s payment process. You can now receive customer payments already converted into your local currency directly in your bank. Also, Amazon does not charge extra for U.S. banks.
Tips for Selling on Amazon Global
Expanding your business to the global market is a long-term commitment that requires thorough research, proper planning and financial support.
1. Quantifying your Resources: The first step is to calculate and quantify the resources you need to market and sell your product overseas and make a plan, overseeing your investment and return targets for a period of three, five or ten years.
2. Choosing the Right Marketplace for Your Product: There are many factors that decide the success of your product in a particular marketplace. You need to determine whether your product has already reached the saturation point in the marketplace or does it still have unfulfilled demand. If your product is in demand then is the demand increasing or decreasing. Or how the specifications of your products will impact your sales.
3. Know the Customers and Buying Culture: You need to acclimatize with the buying culture of your prospective marketplace. You need to know what are the payment preferences of the customers, what are their expectations from a seller, when does the sales go up and what all products remain in demand throughout the year.
4. How to Sell: You need to decide whether you should opt for FBA (Fulfillment by Amazon) or FBM (Fulfillment by Merchant). Your choice depends on your sales channels within the prospective marketplace, whether you are willing to streamline your service process according to the new market or not and are you capable of providing customer support in the native language of the marketplace.
5. Incorporating International Fees: While selling internationally you need to pay the taxes, duties and customs fees. Some of you may choose to add these costs to your product price while some may just use the Amazon repricer to help you out. The choice is yours and it will surely determine how much profit or loss this endeavor may generate.
6. International VAT: You will need to understand all the tax laws applicable to you in the new marketplace. Because you may face harsh penalties if you fail to comply with them. The best way is to hire an account who is accustomed with those laws and have him help you out in deciding the best course of action for you.
7. Logistics: Handling the warehousing and returns of the products is one of the main issues that sellers face while entering a new marketplace. You can set up a warehouse in the country and hire a team to handle dispatches and returns, or you can opt for FBA (Fulfillment by Amazon) and let Amazon deal with dispatches and returns for you.
8. Something Unique: Success rates are always higher for the sellers who bring something new and unique to the market. This uniqueness can be provided by your product, the techniques you incorporate in marketing your product, or how you tackle the customer grievances. This will differentiate you from your competition and push your sales forward.
9. Keep your Eyes Open: There are many factors that drive the market in a particular country. Sales vary according to the time of year and depends largely on the national and religious holidays. Don’t just sit back once you have started your sales, employ tools like discounts, product combo and keep an eye on the changing rules and policies of the marketplace.

Before expanding your business and taking it out to a global marketplace you need to ask yourself all the marketing and logistical questions, plan all the steps you are going to take and also plan for major possible contingencies. Your chances of success are higher if you have plans in place to encounter unexpected situations and policy changes. Selling on a global level is surely challenging, but if you execute properly, it can be highly rewarding.
By Jason Kumpf
ECOMMERCE Expert