Five Great Holiday Tips for Amazon Sellers
The holiday season is fast approaching, which for most e-Commerce sellers means it’s time for working twice as much – if not, ten times more. It is that time of the year where you get a little crazy. From taking and completing orders to responding to customers queries and ensuring that you’re making profits, everything can seem to be overwhelming. But fret not, we put together some tips and tricks to help you get through this period with professionalism and composure.
Tip #1 Reprice some of your products
The holiday season brings so many new sellers, which oftentimes can cause disorder in the pricing. As a result, keeping up to date on your entire inventory can be challenging.
If the item you’re selling has a ton of sellers and doesn’t sit at the top of the listing, it would be wise to reprice as the lowest seller. However, make sure that you set it at a competitive minimum so you don’t lose money on the sale.On the other hand, if you’re selling an item with good ranking and it has a good margin, it wouldn’t make sense to reprice it. Just set that listing at a profitable price and let it stay that way.
Tip #2 Review your inventory levels
Once the holiday shopping season starts, keep an eye on your inventory levels more frequently. If buying extra inventory is within your budget, do it. Remember, some of your items may not sell until after the holiday rush.
Using reliable inventory management software is a good way to automate the management of your inventory levels and make sure that you have enough items on hand should the demand be higher than expected. Such software systems will also provide you with adequate information so that you do not overspend or overpurchase inventory.
Tip #3 Stock up your inventory
Christmas is the ultimate time for gift giving. However, this doesn’t mean that people will stop buying after the yuletide season. In fact, January offers a good time to sell on Amazon. Some people are exchanging the gifts they don’t want for cash, and, in turn, buying things that they really like. Other consumers use their Amazon gift cards after Christmas.
Unless you’re selling a product that has an expiry date, like food, it’s wise to stock up your inventory. In this way, if your items sell faster than expected at the beginning of the holiday season, you still have enough inventory to fulfill demand until the season ends.
Tip #4 Research trending products
Another helpful holiday Amazon tip is to find out what products appeal most to Christmas shoppers. Know what your intended customers are looking for and the kind of products they are buying. Instead of testing out new listings and monitoring their performance, consider sourcing out those products that will help increase your sales during this season.
By knowing what products are selling best during this period, you are likely to make more informed decisions and boost sales.
Tip #5 Offer discounts
While you will want to have enough inventory to last the festive season, you will want to avoid having too many out-of-stock issues. That being said, try packing together items that are lagging behind in order to move them. Then sell them at a reduced rate to catch the attention of your customers and work toclear the items out.
May these holiday Amazon tips bring forth a more profitable and successful Q4 this year. But, don’t forget to relax and enjoy the holiday season. After all, holidays are all about spending quality time with your family and loved ones.