As an Amazon seller you must be aware that the holiday season often can make or break a company. The projected sales this holiday season will be over $1 trillion in the U.S with around $96 billion will be from online purchases. This can not only be the most lucrative time for your company, but it also can be the most exhausting. To prevent you from being stressed during your busiest time of year we have created a list of tips to help you sell on Amazon.
Stock Up: Running out of products you need will result in loss of potential sales and will also degrade the reputation of your business. Never underestimate the amount of products that you should have in stock before the holiday season.
Focus on The Trends: Even though it is important to use last year’s sales as a means to know how much product you should have for the holidays it is also necessary to look into this year’s trends. Try to focus on providing products that will not only reflect your sales in the previous years but also that will keep up with the shopping and commercial trends of this year.
Revisit Last Year: The best way for a seller to understand what products they should stock up on is to look at the numbers not just from last year but the past three years. It is important to stock up but it is just as important to not have too many products which will lead you to have the majority of your inventory not sold after the holidays. Keep in mind that the FBA storage fee will go up this time of year.
FBA: This acronym stands for Fulfillment By Amazon and as a FBA retailer, your inventory will be stocked in an Amazon warehouse. There are many benefits of being an FBA seller such as Amazon will ship your products, handle customer service and deal with refunds. FBA sellers also see an average increase in sales by 5 times.
Other Perks of FBA: Often times as an FBA seller, your products will qualify for free shipping and gift wrapping. Amazon will also state to your potential customers when you need to order the product in order for it to get delivered in time for Christmas.
When To Deliver Inventory: It is critical to plan ahead for the holiday season. To make sure that your products are available for the holiday season with adequate time for shipping, it is important to get your inventory to an Amazon warehouse by December 1, 2017.
Cancellations: To minimize order cancellations as well as to prevent unsatisfied customers, it is crucial to only show the inventory that is stocked and ready to ship.
When To Expect Shoppers to Buy: Though many believe that Black Friday and Cyber Monday is the time when everyone shops this is simply not true. The majority of shopping happens in December. Though, most of the shopping happens in December it is important to always keep inventory in place in January as well. Having inventory available during January is important due to the fact that consumers tend to spend their holiday bonuses, gift certificates and money they have received as gifts on online purchases.