Amazon FBA from Bangladesh is like a trump card at the current perspective of Digital Bangladesh. As every sector of Bangladesh has been digitized, Bangladeshi businessmen are entering global markets besides the local markets. They have managed to reach international marketplaces like Amazon through cross- border- e-commerce. Starting Amazon FBA from Bangladesh, they are generating million dollar revenue which contributes to the economy of Bangladesh.
Smart citizens, smart society, smart economy and smart government are considered as the main foundation of Digital Bangladesh. All these four things are interrelated but a smart economy is the most important. If the economy is smart, citizens will be smart. Smart citizens can make a smart society and only the smart society can build a smart government. Before starting the discussion of starting Amazon FBA from Bangladesh, we have to know what Amazon FBA is.
The meaning of Amazon FBA is Fulfillment By Amazon. A seller can store the products in Amazon’s warehouse through this. Amazon will receive your products, if any order is made Amazon will deliver the products. In case of refund, Amazon will manage the refund and if your product is returned, Amazon will restore the products in their warehouse. This is the main concept of Amazon FBA business model.
To start Amazon FBA Business from Bangladesh, some necessary guidelines are required. Such as- proper planning, skill, market size and competitor analysis.
Product Research
The most important step to start Amazon FBA from Bangladesh is to complete research on products and search for suitable, profitable and perfect products which hold a competitive market demand.
Niche Selection
Product research starts with niche selection. While selecting a niche, the first thing to consider is whether you have any preference for a particular product or if you have a passion for working in a specific category. Researching within the niche involves determining the demand, competition, and opportunity. Using Google Trends, it’s important to check if the product is seasonal or not. If it is, then it’s advisable to avoid it, as it may only sell well during specific times of the year. Once a product is selected, it’s essential to see what Google says about it and to observe sales trends. If the sales curve has consistently been going up over the past 10 years, it indicates sustained demand and growth for the product. Conversely, if there has been a decline in sales over the past 5 or 10 years, it suggests a shrinking market size. If a product sells well for specific months of the year but not consistently throughout, it’s definitely a seasonal product. On the other hand, if a product sells consistently every month and experiences sales spikes, it indicates good potential and market opportunity. In that case, working with that product would be a wise decision.
Seller Account Creation
To start Amazon FBA from Bangladesh, creating a seller account is very important. To create a seller account, you need a valid passport, bank statement, a fresh email account that hasn’t been used for any other Amazon-related work, a dual currency credit card, and a utility bill. You have to follow step-by-step instructions on the Amazon Seller Central website to create a seller account.
Market Opportunity and Competitor analysis
Once a particular and precise niche is found to start Amazon FBA from Bangladesh, it’s necessary to determine its market opportunity. This involves gaining an understanding of the market size within the selected niche, the number of products available in that niche, and the number of sellers operating in it. This information provides insights into the category. After gathering these ideas, the next step is to select a specific product that you will either start with or conduct your Amazon FBA business with. Then comes competitor analysis. Competitor analysis involves studying who else is working with the product you have chosen for your Amazon FBA business, how they are performing, what kind of response they are getting, the quality of their product reviews, their velocity, at what price they are selling, etc. And if you want to enter the same space as a newcomer, meaning if you want to sell the same product, then conducting a detailed analysis on what new Unique Selling Point (USP) your product will have, which will allow you to enter the market as a new entrant and compete with existing sellers, is what market analysis and competitor analysis are all about.
Product Validation
With a view to starting Amazon FBA from Bangladesh, you already have data for competitor analysis and sourcing prices. Now you need to identify whether you can compete in the market with the competitive prices of the products available. If you can, then it’s important to determine how much that price is and what profit margin you will have if you sell at that price. This is validation.
Product Shortlisting
It is necessary to analyze competitor analysis data, sourcing prices, etc., to get ideas and conduct market analysis to list the products whose growth is good. The product should align with your sourcing cost, landing cost, etc., and if you can make a profit selling the product on Amazon while meeting your expectations, then you finalize the product. So, by researching products in this way and going through various steps, you can ultimately shortlist the products by finalizing them. If you want to start Amazon FBA from Bangladesh, you’ll need to follow these steps step by step.
Supplier Research
Conducting Amazon FBA business from Bangladesh, you need to ensure that you will make a profit and whether you can compete with the market price of the product. First, you need to compete with the market price, and then you need to know if you can make a profit by selling the product against that price. To understand whether you can profit or not, you need to know about sourcing pricing. To find the sourcing price, you need to conduct supplier research.
Product Sourcing
For starting Amazon FBA from Bangladesh, the first place for product sourcing is often China. Many people source products mainly from Alibaba in China. When you source a product, you should keep its landing cost between 20% to 25%. To maintain this landing cost, you need to go to Alibaba, find suppliers, and see at what price they are selling the product. This is how you find suppliers.
Amazon Shipment Creation
Another stage of starting Amazon FBA from BAngladesh is to send the products to Amazon’s warehouse. The process mainly involves creating shipments for Amazon’s shipment. For Amazon shipment, you need to go to Amazon’s homepage, click on ‘Manage All Inventory’. You need to select the products that will be sent. Then, you have to click on ‘Action’ and go to ‘Send/Replenish Inventory’. You need to input the address from where the product will be sent. You need to input the number of boxes. Finally, you have to confirm and continue.
Amazon PPC (Pay-Per-Click)
The first step in marketing on Amazon is Amazon PPC (Pay-Per-Click). We tell Amazon with money to give us clicks for the keywords people use to buy products on Amazon. This process involves bidding. Suppose 10 people are selling the same product, a coffee grinder. So, for selling coffee grinders, those same 10 people are doing PPC. Then, what will be the keyword for this product? It will be a “coffee grinder.” Using this same keyword, when everyone bids, Amazon will show their products to those who search with that keyword at the top. This is called Amazon PPC or Amazon Sponsored Ads. Those who bid less, have a lower budget, or whose products are not relevant to this category, Amazon will show their products below. So, the main place to sell your product on Amazon is Amazon PPC. Amazon PPC can be of many types, such as Sponsored Ads, Sponsored Brands, Sponsored Products, Display Ads, and many more. Those who are brand registered have more options, such as getting extra placements and running ads on more platforms. This is the basic promotional activity on Amazon.
By following these basic steps, one can start Amazon FBA from Bangladesh and achieve financial freedom.
