5 Tips For Amazon Sellers To Increase Sale In 2020
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Due to a vast amount of merchandise listed, Amazon presents a cutthroat challenge for both new & existing sellers to rise up in the search result page and experience sales on your products. Selling on Amazon without a proper plan of action can turn out to be catastrophic for your sales and your seller’s reputation as well. So, our Amazon marketing experts have come forward with a set of best tips for Amazon sellers to increase sales in 2020.
Tips To Increase Sales on Amazon in 2020
Merely listing your products on a giant eCommerce marketplace Amazon is not enough, as you won’t be able to get the results up to your full potential. The only way to overcome your competitor is farsightedness and a flawless sales strategy that satisfies the customers.
Here’s a list of things you could begin with in order to increase sales on Amazon:
1. Plan The Year Quarterly By Setting Small goals:
Planning the whole year with one goal is not an ideal way for an eCommerce seller.
As eCommerce trends are not the same throughout the year, so bifurcate your goal in small time periods.
The best way to do so is to divide the year into quarters and plan accordingly.
- Q1 The planning quarter (January, February & March)- This is the quarter where the sales are comparatively low. It is the best time to plan ahead and prepare the plan. You will only get only one event – Valentine’s Day (February 14, 2020) where sales will hike.
- Q2 The salvation quarter (April, May & June)- This is the time where you will experience a boost in sales. Big eCommerce events that occur during this period are Earth Day (April 22, 2020), Mother’s Day (May 10, 2020) & Father’s Day (June 21, 2020).
- Q3 The Preparation quarter (July, August & September) – In this quarter by this time you must be prepared for the big sales to come. The big events that fall under this process Amazon Prime Day Sale (11 & 12th July 2020) & Amazon Fab Phone Fest (July 24 to July 26th, 2020).
- Q4 The Earning quarter (October, November & December) – Now this the most important quarter for an Amazon Seller. If planned well, you may earn twice of what you have earned in the previous quarters. The big events that fall around these times are Thanksgiving Day (November 26, 2020), Black Friday (November 27, 2020), Cyber Monday (November 30, 2020), 12.12 (December 12, 2020) & Christmas Sales.
The Net revenue of Amazon per quarter from (2007-2019)
It’s quite clear that for an Amazon Seller, there is a huge hype in sales in the third quarter every year.
Now let’s move on to the next tip…
2. Inventory Clean-Up & Clearance Sale:
The customers have just experienced back to back events and holiday sales in December. Right now they are not looking to spend.
For a seller, it is the best time to start cleaning up the inventory and begin with further preparations.
Take a tour of your inventory and make a list of all the items that are just sitting back and are of no use for now.
To ignite the spark amongst your uninterested customers, go for “A clearance sale”.
Amazon organizes many high magnitude sales like Amazon Prime Day & Freedom Sales. This is the best time to do so.
For example – you have bulks of T-shirts which were not sold during the summer season. Since the upcoming season is winter, there won’t be any demands for it in the near future. These T-shirts will just sit back & occupy space in the inventory and the trend might not be the same next season. So the logical thing to do is get ting rid of these so you might bring in the stock for the next season.
When the next sale arrives start selling all these t-shirts at a discounted price and clean up the inventory for next season.
The Clearance sale will serve two purposes:
- Avoiding Amazon’s charges for long-term product storage.
- Getting rid of all the unnecessary items in your inventory.
You might not earn much from these clearance sales but looking at the bigger picture it will serve you even better.
After inventory clean-up, you need to continue further as…
3. Learn From Previous Mistakes & Work On Improvement:
For every Amazon seller, it’s important to learn from the mistakes. Otherwise, it becomes very difficult for you to win the buy box and earn.
No matter how good your shopping season in 2019 went, there is always a possibility of improvement.
“Fools say that they learn by experience. I prefer to profit by others experience.”
― Otto von Bismarck
Since now you have the time, make a list of all the loopholes in your previous sales strategy.
From the seller panel, you can easily get an idea of how the sales went. Which months sales were low, which products have less conversion rate, and other details.
Go through various categories and make a list of all the products that need improvement. The best way to do so is by going through the customer’s feedback. It might be a time taking process but still, it will provide you enough insights on where things went south.
This is an example of all the customer reviews. Go for the ones which are less. Here the customers will explain how your services could have been better.
A drop-down filter is also provided in Amazon from where you can sort the reviews accordingly.
The reviews are a way through which the customers speak with you.
An out of the box thinking is must & and one among those is our next tip…
4. Attend Amazon Seller Conferences & Events in 2020
Being one of the most dominant eCommerce marketplaces in the world, Amazon organizes various seller events worldwide. Amazon gives an opportunity for sellers all around the world to interact with each other and share their insights. Being a part of such conferences gives you exposure to various other industries and how can you leverage for further growth.
We have compiled a list of all the Amazon Seller conferences to be held in 2020
Amazon Professional Sellers Meetup and Workshop:
Venue: Brooklyn, NewYork
Time: January 2020
- Promoting the new product launch
- Welcoming new sellers aboard.
- Optimizing the product listings on Amazon.
Capacity: 600 sellers.
Amazon Seller’s Summit:
Venue: Miami, Florida
Time: 6 to 8 May 2020
- Provide a curriculum-based experience
- Identify potential sourcing vendors
- To develop a blueprint to scale business
Midwest E-Commerce Conference:
Venue: Minneapolis, Minnesota
Time: 17 & 18 July 2020
- To understand the rules of selling various regions
- Planning new strategies to grow eCommerce businesses
- Encouraging Mid-western sellers.
Amazon Seller Con
Venue: Las Vegas, Nevada
Time: 16 to 18 July, 2020
- To teach practical & up to date eCommerce strategy
- Aid new sellers to grow their business.
- Develop meaningful connections with other entrepreneurs.
Imagine Magento 2020
Venue: Las Vegas, Nevada
Time: March 29- April 2, 2020
- Promote m-commerce
- Learn various payments, email marketing, data insights and more
- Promote Magento Amazon Integration.
5. Follow Latest eCommerce Trends:
After Inventory clean-up & loophole analyzation, now we can move on to the next step.
Now you need to start prepping up according to the latest eCommerce trends in 2020.
Stay in touch with the latest eCommerce trends. Subscribe to the newsletter of magazines like Glamour, Business Insider and Vogue. By doing so you will be the first one to know what your customers are seeking for.
Dropshipping is the best way for new sellers to set foot in a marketplace like Amazon. DropShipping has been a significant factor for Amazon sellers in the previous years and will continue to trend in 2020.
A simple order fulfillment method without the concern of managing product stock is a simple definition of Dropshipping.
eCommerce sellers who participate in dropshipping are 18.33% more profitable than those who rely on conventional channels to sell.
To make things more clear we have broken down the process of dropshipping in three simple steps:
- Promote & Display any other supplier’s or manufacturer’s products as your own product on Amazon.
- Receive the customer orders the same way as your own.
- Once you receive the order, Forward it to the supplier who has an inventory available. Now it becomes their responsibility to complete the rest of the transaction.
The advantage in doing so is that you don’t have to do any of the heavy liftings. On the bright side, you also earn a profit.
According to a report , around 27% of online sellers & retailers have adopted dropshipping.
So, are you one of them?
To sum it all up, it could be concluded that with all the big ecommerce passed now is the best time to plan ahead. Amazon will definitely prove to be the best online selling platform in the coming days as they are constantly evolving by working on improving the standards of ecommerce.
Amazon now commands a total of 49% of the U.S. e-commerce market, rising up as the undisputed leader of ecommerce operational model and retail distribution network.
If you are planning to be a part of this evolution, be sure to follow all these 5 tips:
- Plan The Year Quarterly
- Inventory Clean-Up & Clearance Sale
- Learn From Your Previous Mistakes
- Attend Amazon Seller Conference & Events
- Follow Latest eCommerce Trends