Winning Q4 as an Amazon FBA Seller
Last year, Amazon claimed record-breaking Christmas sales, with tens of millions of shoppers worldwide signing up for its Prime service. In the US alone, over one billion of products were shipped for free using Prime.
Additionally, over 50% of sales were contributed by small and medium-sized businesses. It is most likely that this year will be a very busy holiday shopping season again.
We know, it’s only September, but guess what? We’re entering the busiest, brightest and biggest money-making time of the year.
Black Friday, Cyber Monday and Christmas are coming to town!
Now, our question is: Are you prepared for the holiday season?
Good thing, it’s still September and you still have enough time to prepare.
Develop a Holiday Plan
Think about all the little details in advance – from which products you’d like to sell to where you’re going to supply them from. You don’t have to reinvent the wheel each year. Look at your Q4 data from last year or the previous years (if they’re available) to review sales trends and history for your top selling products.
Your historical analytics should help you identify the amount of inventory you should keep in stock, the average number of orders to expect, the speed of shipment and delivery, and potential challenges that could come your way.
Manage Amazon Q4 Inventory
Make sure you have enough inventory in stock for the holiday sales spike.
Many new sellers fail to anticipate the increased sales demand in the fourth quarter. While selling out sounds like a good thing, you don’t want that happening because that means you’re losing out on potential sales. In other words, you’re leaving money on the table and your competitors are taking it from you.
The key is to keep enough stocks on hand to gain all the potential profits you can. You don’t want to stock too much inventory as that would tie up your cash in inventory.
Watch out for Price Wars
Price too high and you will be left with piles of stock collecting dust. Price too low and things will be gone in a snap of a finger at the expense of your profits. Your goal is to find that nice middle ground which gives you enough profit and retains a good customer base.
You’ll no doubt see lots of short term opportunists that will try to get hold of you product and will fight to win the Buy Box. Here’s where Amazon repricing tools, like SellerMobile, comes into play. Not only does it automate your repricing strategies, it also sends you hijacker alerts, lost sales notifications as well as out-of-stock alerts. Most importantly, it boosts your chances of winning the Buy Box.
Optimize Your Listings
Your listings are the lifeblood that brings you traffic and sales. At this most critical time of the year, make sure the most important part of your business is shiny like a gold ball on a Christmas tree.
A well-optimized listing title can have a positive impact on your product’s search performance during Q4. Use relevant keywords in the title. To make the title more effective include other elements such as brand, product line, product type, size, material and color.
Write eye-catching, detailed description to capture your audience attention. Make it easy-to-read by using bullet points. Tell your potential buyers the benefits of the product, its key features and other essential information like size, quantity or dimensions. There’s a bunch of ways to optimize your listing and it’s up to you to do your homework.