Our friends over at JungleScout have just completed a survey of over 2,500 amazon sellers. They mostly agree (77%) that things are looking good for the Amazon marketplace for the near future, and they mostly all wish they’d started even sooner on the platform. Here are some of their other findings:
- Demographics: 70% of sellers are male, mostly american, and aged between 25 and 45 years old
- Sales Models: the majority (65%) of sellers are private label sellers. 26% are wholesalers, and only 13% invent their own products
- Location: As would be expected, Over 91% of sellers are selling in the US.
Their top 3 pain points: Product research, getting product reviews, and researching manufacturers, in that order
- Getting Started: Starting small is better than waiting to make a large investment to start building your amazon store
- Growth rates:
– On average, revenue for sellers grow by 14% per month for the first 2 years, that’s over 5x yearly growth!
– By 18 months, 50% of sellers report 10k or more in monthly revenue
- The top 3 most profitable models: Your own invention, private label, wholesale, in that order
- The most common ways to maximize profit:
– Add more products
– Sell in more than one market
– Build your own website
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