University - General Information About Amazon
The Amazon Marketplace is the virtual shopping arena that enables buyers to purchase fixed-price products from third-party sellers, who market their wares, both new and used, via Amazon’s platform.
How It Works
Fundamentally, Amazon functions as a gateway to the Marketplace. That is, buyers access the Marketplace via Amazon, and when they make a purchase, Amazon accepts the credit card payment and transfers it to the sellers. The buyer does not have direct contact with the seller during the purchase. Here is a step-by-step breakdown of the buying and selling process in the Amazon Marketplace:
- Sellers list their products.
- Buyers see those products when they click New and Used, in the More Buying Choices tab.
- Buyers purchase products using Amazon’s interface.
- Amazon notifies sellers that payment has been received.
- Sellers ship the items ordered to the buyers within two days of notification.
- Funds are deposited to the Seller Account.
- Funds are transferred from the Seller Account to the sellers’ bank accounts, in accord with Amazon’s 14-day cycle.
Sellers use the Amazon platform from one of the following kinds of accounts:
- Individual Seller Account: with no cost to the seller.
- Professional Seller Account: with a monthly subscription.
The Marketplace Scope
Amazon makes the Marketplace available on its many sites in more than 60 countries. Though not all sellers ship internationally, the Marketplace has become a valuable shopping option throughout the world.