Inside the Mind of an 8-Figure Amazon Seller w/Scott Needham EP136

Welcome To Episode #136 of the Amazon FBA Private Label Show Podcast! In this episode I talk with 8 figure Amazon seller Scott Needham of Buyboxer about the current state of selling on Amazon FBA.  Listen to this Amazon FBA Podcast! [powerpress] Inside the Mind of an 8-Figure Amazon Seller w/Scott Needham EP136 In this latest podcast episode I am joined by Scott Needham the CTO of Buyboxer. Buyboxer manages the largest assortment of skus on Amazon FBA and has done over $250 million in sales over the years. They currently have a catalog of 70,000 plus skus in their catalog and they also work with brands and businesses to help them grow on Amazon. Check out this podcast episode where I talk with Scott about the current state of Amazon. Scott will also share valuable insight on product research as well as using coupons to drive sales and conversion. Scott will also talk about the importance of filing for reimbursement claims with Amazon for missing and damaged inventory.      THE STATE OF AMAZON While Amazon continues to grow and expand over the globe it's a platform that is attracting thousands of new sellers every single year. More sellers than ever are creating thriving 6, 7, and 8 figure plus businesses utilizing the Amazon FBA platform. Just recently Amazon reported that nearly 150,000 Amazon sellers surpassed $100,000 in sales. While competition may be heating up there still is plenty of opportunity for new sellers coming to the platform.    AMAZON PRODUCT RESEARCH    Don't over-complicate your product research. Keep things simple by selling product that are currently in demand or have an emerging demand as trends start and grow. Using tools like Jungle Scout or Keepa can help you identify these product and trends. There is a lot of opportunity to sell premium versions of products on Amazon. While most sellers and Chinese suppliers tend to have lower quality products focused on value buyers you can carve out your piece of the market by positioning yourself as premium. When you do this you can charge more as long as you have a high quality product with premium packaging and a top notch experience.    Consider exploring the grocery niche for lots of future growth opportunities.   Data is great and can help with your product research but sometimes too much data can be counter productive. It's also important that you develop skills as an Amazon seller to be able to identify market opportunities without having to use tools all the time. You should be able to evaluate a current market and determine what the current market is asking for based on customer feedback, reviews and research.    As Scott mentioned it's certainly worth looking into new and emerging trends in the market. If you jump on trends early you can establish yourself as the leader early on Amazon. Using tools like Google Trends or just recognizing social trends may prove to be valuable.    AMAZON COUPONS   If you want to boost conversions and sales on your products then experiment with Amazon coupons. Most Amazon sellers aren't using these right now so the opportunity is golden to capitalize off of it. Coupons will help your click through rate as the visual green badge that Amazon displays is very eye catching. Also if you have slow moving inventory consider running coupons along with PPC to drive sales or liquidate inventory.    REIMBURSEMENTS    If you have been selling on Amazon for any period of time then chances are Amazon owes you money for missing, lost or damaged inventory. You could be owed thousands of dollars back from Amazon so it's important you dive into your reports on a regular basis. If you don't have the time or the patience to do this then hire a virtual assistant from the Jungle Market to assist with this process. You could also hire a service to assist with this as well. Consider using Scott's service Valence and see how much you are owed in reimbursements.      ----------------------------------------------------------------------------------------------------   CONNECT WITH SCOTT NEEDHAM    Scott's Podcast - The Smartest Amazon Seller Reimbursement Service - Valence Services  Account Services + Brand Management - BuyBoxer  Follow Scott Needham on Instagram  JUNGLE SCOUT CONTEST GIVEAWAY!  Want to get entered to win a license for a Jungle Scout chrome extension? Subscribe to the Private Labeler Show Podcast on You-Tube and hit the notifications bell Like this video and comment “I want Jungle Scout” I will pick one lucky winner very soon! Good Luck!      Not a member of the Facebook Mastermind group yet? Join here! WANT ACCESS TO A FREE AMAZON TRAINING COURSE? RESOURCES MENTIONED IN THIS EPISODE: Jungle Scout Chrome Extension – An piece of software that allows you to quickly do product research on Amazon like a pro. The Jungle Scout chrome extension has saved me TONS of time when looking for new product ideas. It’s a MUST for anyone who is getting started in selling physical products on Amazon. I highly recommend Jungle Scout and it’s the first tool I ever purchased years ago when I first got started. SEE MY JUNGLE SCOUT REVIEW HERE: SAVE $$$ BY USING MY SPECIAL LINK –>PLS LISTENER DISCOUNT – Chrome Extension –>>EXCLUSIVE JUNGLE SCOUT BUNDLE OFFER LINK – Chrome Extension + Web App Jungle Scout Web App – This is one of the premier Amazon product research tools out on the market now. This essential software will help you find and discovery new and hot product opportunities, track products, spy on your competitors and more. This is my go to tool right now that I use constantly. —> USE THIS LINK TO RECEIVE AND EXCLUSIVE LISTENER DISCOUNT  Jungle Scout Market – Hire pre-vetted Amazon experts to help you build, run and grow your Amazon FBA business. Created by the Jungle Scout team. SUBSCRIBE TO THE SHOW!   I NEED YOUR HELP! If you felt you got any value out of this podcast, then please support me with an iTunes review. It's simple to do! Just click here to head to iTunes and leave an honest rating and review of the podcast. Every review helps! Inside the Mind of an 8-Figure Amazon Seller w/Scott Needham EP136