Good news for Caribbean-based producers who have wanted to sell on Amazon.
The company recently added 85 new countries to its Eligible Sellers List. Among them are 15 Caribbean nations.
To be eligible to sell on Amazon, you need to be resident in one of the following countries, have a valid phone number, and have an internationally chargeable credit card: Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Saint Lucia, St. Kitts & Nevis, St. Vincent & the Grenadines, Suriname, and Trinidad & Tobago.
Fees & Rules of Selling on Amazon
Some of the benefits of selling on Amazon says Jody White of Slimdown 360, which sells Cassava and sweet potato flour on the platform, is the opportunity to exploit a larger marketplace and access new opportunities to grow.
White cautions that there are many associated costs and procedures to gain approval to sell on Amazon. There is a USD 40 per month fee for a professional account and all of your business registration documents must be in order. Amazon takes 8% for products priced under USD15 and 15% for products over USD15. There are also fees associated with order fulfillment, marketing and storage, pay per click and at Christmas, fees increase.
White also says Amazon costs are inconsistent and can change at any time.
There are rules on packaging and using bubble wrap, plastic bottles and boxes must be able to withstand a fall from three feet, the Trinidadian entrepreneur shares in his Exporting Via Amazon webinar. “Sellers must adhere to the rules of the country of importation.”
In this case, with Amazon, it is the Food and Drug Administration. Failure to do so could result in being banned for life.
The Secret is Optimizing Your Products
He recommends using a third party seller to process sales and to invest in sponsoring ads and optimizing products and campaigns to increase visibility and customers finding your products. There are specifications for photographing products for use on the site and attention must be paid to the product titles and keywords used which aid in customers discovering your products.
The secret to making money on Amazon is volume and scale. That comes with investing in developing a quality product, being able to navigate the process of getting the product to an Amazon warehouse/fulfilment centre and ensuring customers are able to purchase and enjoy the product.
To begin selling on Amazon review their startup information.