Online Retailers (Including Amazon Sellers) Use NAICS Code 454110
Welcome, fellow ecommerce enthusiasts! This article will shed light on the North American Industry Classification System (NAICS) and the importance of your NAICS code. Specifically, we'll focus on NAICS code 454110 - Electronic Shopping and Mail-Order Houses.
NAICS at a Glance
The NAICS is a classification system developed by the U.S. Census Bureau, used to classify business establishments. It's a valuable tool that can provide insights into the ecommerce industry and the online retail landscape.
What NAICS Code for Amazon, Walmart, and eBay Sellers?
Whether you're an Amazon, Walmart, or eBay retailer, your NAICS code is typically 454110. This code represents establishments primarily engaged in retailing all types of merchandise using electronic shopping and mail-order houses.
Are you also looking to scale your business on Walmart? Click here for a useful guide to help you get started.
NAICS Code 454110: Unpacking the Details
NAICS code 454110 is assigned to online retailers or mail-order houses. These establishments are primarily engaged in retailing all types of merchandise using the internet or other electronic media, catalogs, and TV. The retailing process is generally facilitated by a courier that delivers the goods from the online store or showroom to the customers.
Why Your NAICS Code Matters
Your NAICS code, particularly 454110 for online retail, is crucial for several reasons:
Illuminate Your Market Landscape
Your NAICS code offers a snapshot of your industry, providing strategic market insights into online retail sales and the ecommerce landscape.
Benchmark Like a Pro
Use your NAICS code to compare your establishment's performance against other retailers in the NAICS 454110 classification.
Stay on the Right Side of the Law
NAICS codes can inform you about specific regulations and tax breaks for your ecommerce business.
Leverage Economic Forecasts
NAICS codes are used by various agencies for economic tracking and forecasting, helping you anticipate future retail trends.
Win at Government Contracts
If you're interested in federal contracts, your NAICS code is your entry ticket, as the government announces contract opportunities using these codes.
Find Potential Customers and Partners
Your NAICS code can help you identify potential customers or partners, boosting your online store's growth.
Considering whether it's worth it to sell on Shopify? Let's weigh the pros and cons in our Amazon vs Shopify article.
Common NAICS Code FAQs
Still got questions about NAICS codes? Here are some common queries:
What is the NAICS code for ecommerce? The NAICS code for ecommerce is typically 454110 - Electronic Shopping and Mail-Order Houses.
How often is the NAICS system updated? The NAICS system is updated every five years. The most recent NAICS revision was in 2022.
Where can I perform a NAICS search? You can perform a NAICS search on the U.S. Census Bureau's website.
Conclusion
In the game of ecommerce, knowledge is power. Your NAICS code, especially if it's 454110 for online retailers, is one of the most powerful pieces of knowledge you can leverage. So, start using it to unlock new levels in your online selling journey.
Keep selling and scaling, ecommerce warriors!
Are you also wondering whether Amazon allows seller to open multiple accounts? Read our article on multiple Amazon seller accounts here.