I believe that all sellers are now preparing for Prime Day nervously , and sellers who are willing to participate in this event are nothing more than to obtain higher profits and improve product competitiveness. We have compiled a few tips for you to improve your profits, learn them now!
1. Use the Amazon Pricing Tool
Amazon's pricing tool Automate Pricing can not only quickly update the prices in the product catalog, but also automatically update product prices and quantity discounts based on changes in competitors' consumer prices, which can save a lot of time and energy, and sellers don't need to check one by one. and changed prices too.
2. Dynamic inventory management
Commodities with a slow sales speed are an invisible and terrible erosion to the profit space of enterprises, because behind them are high storage occupancy rates and capital occupancy rates, and some sellers do not even know how many goods they have. Therefore, when Prime Day is approaching, it is recommended that sellers be equipped with a set of dynamic inventory management tools (whether purchased or built by themselves) to track the inventory changes of each SKU, and gradually eliminate SKUs with poor sales speed (refer to Bundled sales method), focus on operating SKUs with outstanding sales performance, and maintain the stability of the main SKUs.
3. Choose a bundle
No one doesn't like a bargain, and no one can turn down a freebie. Sellers can gain a competitive advantage by offering bundles. Selling supplements or the same product at the same time is bound to stimulate sales, while also increasing the average order size.
Not only that, from a profit point of view, bundling can increase the sales and profit of each product, and it can also reduce the cost of goods sold, such as packaging fees , thereby increasing profits for sellers.
4. Track supplier cost changes
Upload your product catalog with Dynamic Profit Analyzer and set it up to automatically track price changes for items. When suppliers lower product prices, sellers can order in bulk, ship inventory to Amazon 's fulfillment centers in a timely manner, and simultaneously list products and start selling.
5. Buy out suppliers
If the supplier of a product you are selling is running out of stock, it is recommended to buy out the supplier directly. When competitors are out of stock, buying out suppliers can allow sellers to have sufficient inventory and become the only seller of certain types of goods in a short period of time, thereby having a greater chance to obtain the buy box ; at the same time, it can also reduce procurement costs.
The above are the little tips for improving sales profits brought by Xiaobian. Are you ready for Prime Day ?