Amazon Seller Strategies to Start the Year Strong
Now that the holiday rush is over, it’s time to welcome the New Year and get ready for some great sales in the first quarter of 2018. While most Amazon sellers look forward to Q4 for peak sales, Q1 also offers equivalent opportunities to sell your products and raise your profits. We put together some Amazon seller strategies to help you start 2019 the right way.
Have a Game Plan
Mark the important dates in your calendar. You could start with the “Blue Monday”, it’s the third Monday in January that is believed to be the most miserable day of the year. Make it a joyful day instead by offering discounted rates and promos.
Next in line is the Valentine’s Day. If it seems that your sales slowed down after Christmas, the heart’s day is your lucky chance to give your business the lift it needs. From the traditional flowers and chocolates to gift cards and jewellery, you will never run out of things to flaunt in Amazon for this special occasion.
Chinese New Year also falls mid-February, it’s another game-changer event for your Q1 revenue. With millions of Chinese-American adults living in the USA, Canada and the U.K., the Chinese New Year can significantly improve your sales even if you’re outside China. But first, you have to find out the best-selling products for Chinese New Year on Amazon.
Reinvest Q4 Capital
Given that you had a great turnout at the end of 2018, why not use your Q4 profits to source items and stock up your inventory. Rather than putting all your money into the bank, you can reinvest a portion of it into your business.
Consider sourcing products that were prime sellers from the holiday season. That is because some buyers might have missed out on purchasing them in time for the holidays, but still want them. By knowing what the trending products are during the festive season, you’ll know what’s worth sourcing after they’re over.
It’s also common for customers to spend their Amazon gift cards early in Q1 for some post-Christmas shopping. While it’s hard to determine what exactly they will want to buy from you, spending enough time on research can help you identify the kind of products people are buying after the holidays.
Allow for Product Diversification
As an Amazon seller, you should be open for diversification. While it’s not always the right time to expand outside your niche, looking for ways to grow your business is an ongoing pursuit. It is said that January is a great time to launch new products. This is because people are naturally inclined to start the new year with a new mindset. You will want to take into account other brands, models or product lines that can add value to your business.
The New Year also presents a good opportunity to turn your plans into a reality. Let’s say in the past you were interested in wholesale but were strapped for cash. It could also be that private label appealed to you but you lacked the starting capital. Now that you are in a better financial state, take advantage of Q1 to pursue those ideas.
Finally, consider Q1 as a distinct quarter with its own unique characteristics. Getting ready for Q1 can be more difficult when you keep on comparing the revenue from the previous quarter. Q4 will forever be a massive quarter but will never be reflective of the entire year. As with anything, the trick to a successful Q1 lies on careful planning and preparation.