Do you know that to navigate the challenges of the holiday season as a retailer on Amazon and to become successful in outselling the competition this holiday season, you will need a detailed strategic insight and actionable guideline on how best to achieve these goals? As an Amazon or eBay marketplace retailer, you are aware that holiday season sales is just by the corner, and everyone is adjusting their sales promotions, inventory and pricing strategy in order to profit maximally from this holiday shopping season.
The question now is; how can you prepare a perfect holiday selling checklist in order to beat the market competition? We shall be offering you guidelines on how to prepare a perfect checklist to propel you into outselling the competition as follows:
1. Don’t center your holiday shopping season on Black Friday: Although, Black Friday is known to come with serious media support and attention, some successful retailers make great sales at the beginning of October while other are anticipating and waiting for Black Friday in November. Therefore, you should increase your inventory by 50% or above earlier than November to ensure that you do not miss early sales.
2. Be Cautious with Your Listings: if you do not pay attention to your Amazon listing details, Amazon may suppress your listing due to incomplete product description, lack of product picture or wrong product categorization. Hence, you should be meticulous with your listing in order to avoid minor errors that will hinder your sales during this holiday season.
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3. Pay Attention to Your High-Selling Products: if you must outsell your competitors on Amazon marketplace, you will need to pay more attention on the products that are on high demand during this season. You will also need to evaluate your product performance to know the low performing products in your store in order to stop selling them. If you do this, you will discover that you will have more time to plan on how to sale the high-performing products, more money due to higher rate of return, and better customers review due to higher customer satisfaction.
4. Don’t Overprice (Lower Prices at the Right Time): Economically speaking, highly in-demand products are suppose to command higher prices. However, on Amazon, if you price your product with over 10% to 15% of the listing price, your product may be removed from the buy box. However, the seller support will agree to remove the listing and place it back on Buy Box if and only if you can convince them that the product is no longer available from the manufacturer. Therefore, you should lower your prices, which will also help you to clear as much inventory as you can during this season.
5. Offload Stale Inventory: Holiday season is a remarkable period to offload all slow-selling inventories that are taking up spaces on your warehouse. You can offer over 40% discounts if a customer purchases them with other items from your store. With this kind of promotional offer, you will be able to recover your capital and warehouse space back.
In all, having received the high-level tips to outsell the competitions on Amazon, eBay and other marketplaces, we urge you to always have these guides at the back of your mind and put them to good use while preparing and engaging in this holiday sales.