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  • Stuart White

How to beat the competition on Amazon in 2023

After Amazon announced that third-party Sellers sold more than ever before over Christmas in 2022, interest in starting businesses on the platform is expected to be stronger than ever in the new year.

In the United States alone in 2021 there was $314 billion in net sales, and a report on JungleScout estimates that an average Amazon Seller makes at least $1,000 a month. It is a hugely attractive marketplace for entrepreneurs to join.

But with opportunity comes competition. So how can Sellers - new and old - beat their competitors in 2023? Thompson and Holt managing partner Stuart White - who has extensive experience selling on Amazon - offers his four key tips to stay ahead of the pack in the new year.

1. Be as unique as possible

It stands to reason that with so much competition, being unique will offer you opportunities that wouldn’t be available if you simply want to start selling a product that others already do. Of course, this then puts a lot of pressure on the quality and desirability of your product, but that would be the case in any marketplace. If you have something to offer that’s not currently available, you could stay one step ahead of the field.

If you are selling something already for sale on Amazon, there are still ways to offer it in a more attractive and unique way than your competitors. Take time to study how they sell the product and what you feel could be done better, whether that’s pricing, presentation or offers. Simply being another member of the crowd on Amazon isn’t the key to success.

Should you sell on Walmart? Check out the benefits of selling on Walmart here.

2. Be careful when choosing manufacturers

Outsourcing the manufacturing process is a common and often common sense approach to new entrepreneurs who are usually unlikely to be able to produce the level of items necessary at first. It also has the added benefits of not requiring warehousing or logistics, and avoiding any production issues.

But that doesn’t make it a straight forward process and choosing the correct manufacturer is absolutely vital. It needs to be somebody who understands your specific needs as a business and who can be trusted. If you need a big order at relatively short notice, could they deal with that? Will they be understanding if it takes a while for orders to increase? Are their delivery processes suitable? These are all important questions you need to ask before making a decision.

3. Be adaptable

Marketplaces are changing constantly around the world at the moment - not just on Amazon but everywhere. Being in a position to stay relevant and interesting whatever is going on around you will be crucial, as well as having an ability to offer new items if opportunities present themselves. Being rigid and inflexible has little benefit in the modern business world, whereas keeping on top of changing landscapes and situations will serve you well. Keeping on top of what your competitors are doing, Amazon and Google search queries, and relevant marketplaces will also serve you well.

4. Constantly analyse your product page content

There are two main things to consider here. One is that you have to abide by Amazon’s specific layouts, and ensure that all of your page content (product images, size and colour variations, text descriptions) meet the criteria.

But you also need to ensure that your page is attractive to potential customers and stands out from any competitors that you have. Customers could potentially view dozens of pages before making a purchase - what makes yours stand out?

Regularly analysing both your page and your competitors’, and making effective changes will help you stay ahead of your rivals.

If you have found yourself suspended while selling on Amazon, contact Thompson and Holt for a free LiveChat to get your Seller business back online as quickly as possible.

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