The Holiday Season of 2022 was one of the best holiday sales seasons for Amazon sellers. But jump to February, and sales on Amazon have slowed down. On the other hand, returns are increasing. So, here are 7 ways to stop this sales slump on Amazon and maximize Q1 2023.
- Re-price to Sell
- Aim to Win the Buy Box
- Boost Organic Ranking
- Check Feedback, Reviews, Comments, and Q&As
- Switch Market and/or Fulfilment
- Polish Your Campaign
- Advertise Everywhere
Following a recent press release, Third-party sellers shipped over a billion items this holiday season. But after superb winter sales, sellers are starting to feel the sting of the sales slump on Amazon.
And it’s not just flattening sales that are bothering. Other factors like high order return rates, replacements, refunds, sales tax deadlines and more are causing troubles. So, to survive all this, the best way out is to work towards increasing sales on Amazon.
But how do you do that? Well, here are a few easy tricks for you.
Sell with Repricing
On Amazon, the prices of products keep changing always. It would be best if you had something that always works to find the perfect slot when the price is high enough to remain profitable but low enough to sell. One thing that will help you can do this is an automated repricing tool, aka repricer.
But not just any repricer. To increase sales on Amazon, you’ll need one that adapts to the prices faster than your competitors.
Capture the Buy Box
With more competitors than ever, it’s important to capitalize on every opportunity to sell well. And there’s nothing like owning the Buy Box to boost Amazon sales. Whether your product is Used or New, you should always try to win the Buy Box or unsettle the winner.
Lift Organic Ranking
This seasonal sales slump on Amazon can be overcome with opportunities like St. Valentine’s Day gifts. But whatever you plan to do, a good SERP ranking is crucial to boosting your Amazon sales. There are multiple ways to have your listing shown above the rest. A way to do this is to find keyword-targeted URLs. Look up competing ASINs with a keyword finder tool to make a list of every ranking keyword and the competitor using them. Then use your combination of keywords to maximize visibility.
See Feedback, Reviews, Comments, and Q&As
A good feedback score isn’t the solution to all issues, but it certainly helps. The same goes for product reviews. It would be best if you kept up with how sellers maximize review counts and the underhand tactics they sometimes resort to.
The best way to make sure your products appeal to buyers organically is to work on Q&As, feedback, and review comments.
As you know, “Questions & Answers” come before product reviews on the product page. So, a buyer can stop scrolling down to reviews if the Q&As are confusing. Mind you, sellers can make matters worse all by themselves with things like bad templates. Phrases like “giving me feedback,” “respond to this email,” and “defective unit” clearly don’t apply.
Switch Markets and/or Fulfilment
For sellers who don’t have the resources and the capacity to compete with other sellers on price, keyword ranking, feedback score, and delivery speed, there’s always FBA. The same goes for sellers who want to streamline fulfillment. It’s also a good fit for those who want to focus on other sales channels. But most sellers have a complex business model, combining MFN, FBA, SFP, private label, etc.
Refine Your Campaign
There are two ways to advertise on Amazon: Sponsored Products and Sponsored Brands. These two consist in setting up PPC campaigns. Sponsored Products campaigns are available to third-party sellers, and they can boost sales on Amazon during Q1 2023 considerably. If they’re set up right, that is.
Timing is crucial. It helps to keep a campaign calendar. That way, campaigns won’t run out just before an important sales event. It’s also easier to sync campaigns across social media platforms when you’ve marked them on a calendar.
Don’t forget to set up a purchase limit too. Otherwise, you’re inviting drop-shippers to source your item and resell it on other venues. And once they get wind of one item, nothing keeps them from doing the same with virtually every item you sell at a discount.
Also, if you set up custom product labels with references to prices and discounts, be careful not to use SKUs and other codes that point to prices. Competitors can use them as markers to undercut your products massively.
Advertise Everywhere
There are several ways to boost Amazon’s Q1 2023 sales from the outside. For instance, creating stories or feeds on social media and networking platforms like Instagram with links to your products and promo codes. It’s also allowed to use higher quality content on other websites than you do on Amazon now that the parity rule no longer applies.
E-commerce platforms like Shopify also allow you to link your Amazon FBA account, tag products on Instagram and create stand-alone sales channels. With this model, Amazon fulfills your orders, and buyers continue shopping on your Shopify store. And with the Amazon by CedCommerce app, you can effortlessly fulfill your aspirations of selling on Amazon from your Shopify store.
To stay in Amazon’s good graces, you could also work with an Influencer who has signed up for the official Amazon Influencer Program. Several software tools can help find them. But you can also offer an influencer some freebies at events like trade shows, as long as there’s no mention of a review.