If you sell a product, you should also be selling it online
In an earlier blog, I detailed why you should be marketing online. I have many similar reasons to sell your product in an online space as well.
As we all know, most people are looking to the internet to answer their questions and fulfill their needs. This is obviously true for consumer's buying habits as well.
If you are making or selling a product, I believe that you are missing a huge opportunity by not listing and selling your product in an online space. There are many options online that you can explore, whether it is an online store on your own website, or selling on a platform like Amazon.com.
A little known fact is that more than 50% of all Amazon sales come from third-party sellers. (source). This means most of the products you see on Amazon, are not Amazon products, but provided by individuals and small businesses. There is a great opportunity with listing with Amazon, as it is often the first and last place consumers look for products. Here are a few interesting facts about the Amazon platform, via bigcommerce.com:
9 out of 10 consumers price check a product on Amazon. (source)
2% of Echo owners have purchased a product via Alexa. (source)
Amazon sells more than 12 million products. (source)
Amazon sells over 1.1 million home improvement products. (source)
95 million people have Amazon Prime memberships in the US. (source)
$1.4K is the average spent by Amazon Prime members each year. (source)
Amazon can be a great tool, however there are a few drawbacks. They charge $39.99 per month to be a seller and they can take up to 30-40% of the gross sale price when your product is sold. If you are doing a high volume of sales, this may not be an issue for you.
One of the benefits to having your own online store, or an e-commerce presence on your website, is the fact that there are no commission fees and minimal sign up costs. You don't have to follow anyone's rules but your own and can keep a higher percentage of the sale price.
One downside to this is that you don't have the customer base that the largest retailer on earth (Amazon) has. If you don't know how to market your site, you could see slow sales figures. Luckily there are a few good businesses that would be willing to help with this and grow your online business.
Don't miss out on any more sales. Do what you can to list your products online today.