Amazon Seller’s Guide to Growth and Expansion in 2024

February 21, 2024

Chris Compean, CEO of Mayan, and Ryan Cramer, Head of Marketing and Growth at Frisbi, shared key insights to seller success in 2024.

Amazon's global reach can grow your business with easy access to profitable marketplaces. But like any jungle, Amazon's ecosystem harbors hidden challenges and hazards. To thrive with new global opportunities, you need more than just a machete and a sense of adventure. You need data-driven insights and strategic guidance.

Chris Compean, CEO of Mayan, and Ryan Cramer, Head of Marketing and Growth at Frisbi, recently shared key insights to secure seller success in 2024. They spoke about the power of data-driven planning, discussed navigating the nuances of global markets, and evaluated the best fulfillment strategies for breaking into Canada. From negative review management to launching new products internationally, this blog is your essential guide to selling on Amazon in the coming year.

Getting Started in 2024

Topline numbers are not the only past performance data sellers need to look at. Go deeper, and you can find insights you didn't know were there.

"Dig into the data. If you're just looking at topline numbers where you went up 5%, that's not going to be accurate to what was happening in Q4, where you were able to increase customer sales up towards 60%."

Be ruthlessly honest with your analysis. Look at product margins, customer feedback, and overall performance. But remember that data alone won't give you the full story. You also have to understand your customers and where their preferences are coming from.

Look at how your products listings and brand align. Are your top-selling products reflected in your branding? Are there missed opportunities to optimize performance? Remember, the best analysis will look at smaller indicators within the context of larger trends.

If you need to cut a product, make a business decision, not an emotional one. Don't forget failed products can still provide valuable data points. Analyze them rigorously and look for patterns and insights to help you avoid future problems.

Exploring the Canadian Frontier

Many U.S. sellers will be drawn to Canada as a familiar market, but its unique complexities can trip even seasoned sellers. Cramer said that any seller thinking about Canada needs to think about the next global step even as they are getting their feet wet in Canadian waters. Sellers should aim for global brand recognition and start preparing at this step for their expansion at the next.

Canada offers two distinct fulfillment options: North American Remote Fulfillment (NARF) and Canada FBA. NARF provides an easier entry point with slower shipping and limited selection. Cramer said that Canada FBA unlocks faster delivery and wider product options, but requires a bigger investment and adds operational complexity.

NARF is a good starting point for most sellers. Sellers will also want to use NARF if they explore Mexico and Brazil due to Importer of Record regulations. That means familiarity with the NARF solution can be valuable further down the line.

However, Canada FBA offers a number of advantages that will make it an essential tool for any U.S. seller looking to break into Canada.

NARF vs. Canada FBA

The best choice between NARF and Canada FBA depends on your needs and resources. Consider your budget, product offerings, and growth ambitions, and remember that it doesn't hurt to have at least some familiarity with how both options work.

NARF is a good place to start.

  • Effortless Entry: NARG allows you to begin selling quickly with minimal setup and investment.
  • Cost-Effectiveness: NARF can lower your upfront costs and potentially lower your fulfillment fees when just breaking into the market.
  • Slower Delivery: Customers are used to instant or near-instant gratification, and the slower delivery caused by transporting across borders may lose you sales to competitors.
  • Limited Selection: Using NARF may mean that you are stuck with a smaller range of products on offer when compared to FBA.

Canada FBA is where every seller needs to end up.

  • Faster Fulfillment: Having your products in Canadian fulfillment centers ensures the fastest possible delivery.
  • Wider Selection: Canada FBA allows you to showcase a broader product range that will maximize your sales potential.
  • Increased Investment: Canada FBA can be a significant upfront investment in an unproven market with higher upfront costs and fulfillment fees.
  • Operational Complexity: Sellers need a robust operational setup and inventory management to be able to get the most out of Canada FBA.

In the end, NARF is ideal for testing the Canadian market, selling smaller product lines, and familiarizing yourself with the best option for later expansions into Mexican and Brazilian markets. However, established sellers may still consider getting started with Canada FBA to get fast delivery and better sales potential from the start.

Managing Reviews with a Global Mindset

Negative reviews can go global as well, and review management is essential to global expansion. If you update or change a product due to a quality issue, consider whether you need a new listing as well. If the original listing has hundreds of reviews and ratings below 4.2, a reset is your best option.

Whether you keep the original listing or not and, regardless of rating, highlight improvements to show you addressed customer feedback. Let customers see that you take care of business. Don't forget that reviews for problems out of your control — such as products damaged in shipping — can be removed.

The Right Tools for the Job

Trying to do it all yourself limits your scope and restricts your growth. Whether you are employing the free tools Amazon already gives you or working with a trusted partner, offloading some of your workload onto the right third-party solution can be the difference between reaching or missing your potential.

The right tools and expertise can help you navigate the nuances of international sales, choose the right fulfillment strategies, and step into global markets with confidence. If you’re ready to discover how much further your Amazon FBA business can go with Mayan, sign up today, and don't forget to check to find out more about how they can help you take the complexity out of global sales.

Grow Your Amazon Business With Mayan

If you’re interested in seeing what Mayan can do for your Amazon FBA business, sign up today. We’re excited to show you our platform and run an audit to show you the opportunities our platform can provide. Once we’re aligned on your goals, we can get started bringing your business to the next level. Ready to see how Mayan can help?
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