We are now in the last quarter of 2020 and it’s already looking like it’s going to be one of the biggest Q4s for Amazon sellers. This isn’t surprising because of the pandemic regulations, so a lot more people are buying their holiday gifts online instead of going to the stores.
As an Amazon seller, this is your chance to maximize those Q4 sales. But if this is your first Q4, what are the things that you can do to prepare for this highly anticipated bump in customer traffic on Amazon?
1. Stock Up on Inventory
Just in case there’s any confusion, Amazon’s Q4 isn’t October to December like most other companies. Instead, the busiest months are actually November to January, which means that you still have a chance to stock up on supplies. Believe us when we say that you want to be ready for this sudden skyrocket on Amazon sales.
We’re not saying that you should go out and buy an enormous amount of products. It’s always best to stock up based on your current sales record instead of being overly optimistic (which could lead to some losses). If you’re making two or three sales on one product per week, expect an uptick to the point of getting a sale per day (or two or three).
The important part is to not wait until December to realize that you might just run out of products and miss out on the chance to get a healthy stream of profit. Also, be sure to stock up all the way up to January, which is the month that most new sellers miss out on. Keep in mind that buying products, even directly from suppliers, can be tough during the holiday season. Remember, even suppliers are trying to ride Amazon’s Q4 wave too.
2. Organize Your Workspace (and Buy Office Supplies)
Don’t forget that the holidays are going to be busy for you, in terms of personal stuff like family events and Christmas parties as much as it will be busy at work. Before you even hit the actual Q4 season, stock up on office supplies, shipping supplies, hire additional help and make sure that everything in your workplace is organized and without clutter.
You would be surprised at how much preparations are being done by Amazon sellers during this period. A lot of home offices are streamlined to make sure that everything that’s needed to get an order ready, either for customers or for FBA, is within the room. Those few extra steps multiplied by a hundred can be a lot, especially when you translate it into time saved. In preparation, extra tables are often brought in to create a sort of assembly line for expediting the packing and shipment process to keep up with the busiest time of the year.
There’s always a chance that you will be hit by a storm of sales if you haven’t already. And whether it’s a slight uptick of sales or a huge one, it’s not going to be like your regular sales days during Q1 to Q3. The best way to avoid mistakes which could result in missed opportunities and higher cost is to organize your work flow, your work space, and your work supplies.
Unless you are using a prep center to handle your inventory, the two things mentioned above are very important during Q4.
3. Calendar Everything
Again, this is more of a ‘decluttering and streamlining your life’ tip but you wouldn’t believe how hectic things can suddenly become when you’re a home-based Amazon seller during the Q4 madness. It’s not if you forget something, it’s when you forget something, and that something will usually be very important and very inconvenient for you and your business.
By simply putting everything in your calendar, you will significantly lower the chances of missing out on great opportunities or forgetting to place an order to your supplier. These little things add up to a lot when you’re dealing with the holiday shopping rush.
4. Don’t Chase the ‘Holiday Toy List’
A lot of Amazon sellers go for the holiday toy list because chances are a lot of people are going to be after those products, but you’ll find that most major stores are also stocking up on them and probably already have warehouses full of them since September. Look for niches with toys that are likely to be sought after but will be harder to come by come December.
These niche toys and items will also be pricier as it approaches December and January, unlike the holiday toy list which you can’t really reprice by much.
5. Adjust Your Repricing Strategy
When it comes to repricing during the Q4, we always recommend keeping an eye out for trends. You’ll notice that certain products’ prices will slowly get higher as it gets closer to December and even much higher by the time you hit January. Don’t get left behind, use that repricer to find a good fit for your prices in line with other Amazon sellers. With the right repricing strategy, you can stay competitive and gain more visibility over your competitors that will hopefully result in an uptick of sales. I use Bqool repricer and adjust my parameters to maximize my profits.
The most wonderful time of the year is also one of the busiest and most profitable quarter for Amazon sellers. And while Amazon’s Q4 is very well known for being hectic, it’s a great time to boost sales and visibility for your online business, especially if you’re just starting out.
By keeping these top tips in mind, you can keep track of your sales, be prepared for the huge holiday rush, and not lose your cool while expediting shipments and orders. Don’t worry, a couple more of these Q4s and it will be a cinch soon enough.
And lastly, don’t forget to spend some quality time on yourself and your family. It’s also the holidays for you just as much as everyone else - just a tad busier.