Holiday Season Pricing Strategies for Amazon Sellers
When it comes to the holiday season, one’s mind immediately goes to December. Well, that’s right. In the financial world, we call it Quarter 4 or just Q4. Generally, Q4 sales are much higher than the other three quarter’s that is because of the holiday season in December and also Black Friday in November.
Identifying the right product for your inventory is very important in holiday seasons. Use the sale ranking data and broaden the range while choosing the products. Use the data provided by amazon rather choosing the product blindly. In the holiday season, many top companies ran out of inventory and that gives the opportunity for smaller companies. If you have more products in inventory than only it is possible to sell more. So get ready the inventory in October itself and have a goal. Don’t forget the Amazon inventory charges, where longer the storage more fee you have to pay. Not only the volume of inventory, brand and product analysis is important when it comes to sales and profit. Amazon Brand Analytics helps in identifying the right product. The entire market place data can be seen and understand the trend. If any item that is sold when it hits the market or only one or two items that keep on getting sold, recheck the price of those products and competitors price.
Finally, cross-check your warehouse and send all items into amazon market place. When you are managing a big warehouse, there is a small chance that you might completely forget to send it to Amazon. Don’t forget to add in Amazon!
Price is an important factor in winning the buy box. That doesn’t mean you have to compete with the lowest price Lowest pricer will be the first to go out of stock, and in holiday season there is an opportunity even if you don’t have the buy box. Tune your re-pricers and make sure go get good profits. The Q4 is the best time in the year to get a good deal on any products. Increase the price for some of the product with the high sales rank and also which is in good demand.
In the holidays season the cost of advertising increase more than double. Amazon will come up with many opportunities like lightning deal, black Friday, Christmas and many offers which gives amazing opportunities to clear the inventory. Keeping an eye on spending for ads, clicks and amazon deals is important during holiday seasons. You can place your ads on many other platforms like Facebook, google ads and others. This will increase sales and budget for advertising as well. Run a special campaign specifically in holiday seasons for good results. Focus on keyword-targeted marketing campaigns. Make sure you get the right balance in appearing searches. This saves the ads budget and improves sale. Also, it important to start ads campaign at the right time. The right time is early October, which saves ads budget and that is where many buyers start noticing your ads. Plan amazon coupons, giveaways and other strategic offers in early October which lead to quick sales. Seek for an influencer if you’re selling a particular product. This will drastically impact on overall sales and helps in creating brand awareness.