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Page 14 FEBRUARY 2018 | RETAILERS FORUM MAGAZINE

For Late-Breaking Industry News Visit: www.retailersforum.com

If It Affects Retailing We Report On It!

More Retailers Look To Sell On Amazon

OVER the last few years at our trade show booths we are constantly asked by retailers and wholesalers

about how they can get started selling on Amazon. We expect that this year that same question will be

asked even more frequently.

WITH speculation that Amazon is looking to acquire Target (a rumor as of press time) and with the

company expanding into food, drugs and many consumables, the question on how to join them if you

can't beat them is more popular than ever.

THE largest problem with Amazon is that they are described as category killers. They watch trends

and pricing and it becomes impossible at times for vendors to make money because of the massive

discounting and competition. Always great for the consumer when this happens, but what about the

retailer and wholesaler. But they are quite here to stay so we are passing along some tips we learned of in

leading business magazine, Inc.

1. Consider your product and pricing

Being that Amazon is so competitive you need o make sure that your product is going to stand out

amongst the countless others. Do you have a hard to find item? If it is a common product you will be

forced to competitively price and that will mean low margins.

2. Optimize the listings

Try to use dynamic, relevant key words the shoppers may use when searching for your specific product.

Make sure you have a detailed description and good pictures of the item as well. Make sure all the terms

are relevant so you are not just stuffing the listing with needless verbiage.

3. Understand Your Costs

It is important to calculate all of the selling fees ahead of time. Many Amazon dealers don't bother

to do this and wait until after a product is sold to learn how much profit they made. On Amazon selling a

25% margin is considered a healthly margin! That is kind of ridiculous in retailing when we look for at least

50% margins.

4. Can you restock quickly?

Is your item selling out fast? If it is than the last thing you want to do is run out and not be able to fill

orders. Be sure you account for inventory. Successful Amazon sellers try to keep between 30-90 days of

inventory on hand at all times.

IN closing. Amazon is not hard to set up to sell on, it is just hard to make money selling on it unless

you have a unique product or products selling with low profit margins. Unfortunately because of the

powerhouse that this online marketplace is, it effects all of our retail stores and businesses who simply

cannot survive on a 25% or less margin. Thank you internet!

Hiring Rate Increases for Small Businesses

SMALL business ended 2017 with a hiring pop, adding 94,000 jobs at the end of the year. Many of the

new hirings were in service type businesses around the country and overall there has been a gain of over

250,000 jobs gained reported to ADP payroll service at the end of 2017.

Retailing Tidbits

AMAZON has obtained a patent on an Augmented Reality mirror that you can super impose clothing

onto yourself in various backgrounds. You can see yourself in your bathing suit with a beach background,

a business suit in a board room, etc. No roll out plans announced as of yet.

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