March 31, 2020
How to become a successful online seller

How to become a successful online seller

More than 73% of Australian households shopped
online in 2018, spending a whopping $27.5 billion. But if you’re opening an online
store , you not just selling to Aussies – you can reach customers right around the world. Ecommerce platforms such as eBay, Amazon and
Shopify provide many of the tools you need to get started, so let’s take a closer look
at how you can become a successful online seller. Maybe you already manufacture your own products,
and an online store will open up a new sales channel for your business. Perhaps you’re thinking about selling online
as a side-hustle to grow your income, or maybe you’re planning to private label and rebrand
an existing product and market it better. Your overall approach will influence where
you set up shop and with what product. Some online sellers focus on everyday items
that are always in high demand, while others concentrate on a specific niche. The key is finding a gap in the market that
you can fill – either with a new product, better marketing or a better price. If you can’t decide what angle to go with,
check out the top selling products on popular marketplaces – what are their biggest selling
points? Globally, books are the most popular category
at Amazon, followed by Health & Beauty then Electronics & Accessories. According to the trends report:
toys, wellness, fashion and beauty are the biggest categories here in Australia. Choose your platform One option is to create and brand your own
online store using an ecommerce platform like Shopify. Shopify helps you market products on social
media and accepts payments from customers around the world. It’s your store, set up exactly
the way you want. Then there are online marketplaces like Amazon
or eBay. Over 10,000 Aussie small businesses are now on Amazon Australia, But that’s just the tip of the iceberg.
Alibaba, Etsy, Wish, Newegg, Gumtree – there are plenty of platforms to choose from. Getting your products shipped quickly is a
big factor in shopper satisfaction, so it’s crucial to get your strategy right. You’ve
got a few options here. One is to store and ship the items yourself.
This gives you more control over your supply chain, but it can be time-consuming and require
a lot of space. If you’re using Shopify, you can find apps
from the Shopify App Store to help you calculate shipping rates and compare quotes from different
courier companies. Amazon offers its own fulfilment service,
Fulfilment by Amazon that allows sellers to store and dispatch their goods through the
retail giant’s mega-warehouses. eBay also has its own fulfilment partner for
orders within Australia, while there are lots of other companies that can handle international
shipping. In fact, there are plenty of third-party dropshipping
providers that can warehouse and ship items for you. Just remember that you’re responsible for
meeting the safety, labelling and documentation requirements of the countries you’re selling into. Shipments outside Australia may also be assessed
for import duties, customs fees and taxes. Running out of cash is a major cause of business
failure. Even a profitable online business can fail because of poor cash flow. Cash flow
is simply the amount of money you have coming in and the amount of money you have going
out. It’s the single most important issue for any business. Your cash flow management needs to cover a
variety of expenses such as suppliers, advertising, telco costs and also marketplace fees….
which vary And don’t forget about tax. Businesses that
sell to Australian customers and have an annual turnover of $75,000 or more will need to register
for GST and lodge a Business Activity Statement. We also recommend speaking to a tax expert. If you’re doing business overseas, international
online seller accounts from dedicated money transfer providers allow you to send and receive
payments in multiple currencies and lock in a better exchange rate when converting back
to AUD. All helping to maximise your margins.. You’ll also want to be ready to capitalise
on opportunities when they come up. A recent survey of 500 Aussie SMEs found half have
lost at least $10,000 by abandoning a project or sale because of cash flow issues. That’s
where business savings or financing from banks and alternative lenders like Capify can help. Once your online store is up and running,
your social network is just the starting point for spreading the word. When you make a sale, give customers an opportunity
to sign up for special offers or give them discount codes to share with friends. And do research to find out the best way to
present your product features, price, and sales history to rank well in search results
Marketplace search optimisation. The platform you choose will also offer its
own marketing tools. For example, Amazon sellers can set up cost-per-click
advertising campaigns to promote individual products or their brand as a whole. On eBay, you can set up a Promoted Listing
to increase your product’s visibility, or use the Promotions Manager to offer discounts
and coupons. To recap, the most important part is preparation.
Decide on an online selling strategy that suits you, compare ecommerce platforms before
deciding where to sell, and research the products that are most likely to succeed in your online store. With promotional and marketing campaigns to
attract repeat customers, you’ll have everything you need to start growing your business. We hope you like this video. There are plenty of guides on Finder to help you start or grow your business You can find the links below.

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