The holiday season is here and consumers are getting prepared to stack their shopping carts with gifts.
According to eMarketer, holiday eCommerce sales in the U.S are projected to increase to $206.88 billion, rising by 11.3%.
How can online retailers take advantage of this opportunity and increase sales on Amazon this holiday season?
In this article, we will run through ten ways to boost Amazon sales and how to generate more income for your business this holiday.
Here’s our list of ten ways you can boost sales and grow revenue with Amazon this holiday season:
Optimizing your Amazon product listings will help you stand out of the competition, become visible to new and existing customers, and increase your conversion rate and sales. Let’s look at some best practices for product listing optimization:
Stocking up inventory means you have greater potential to make more holiday sales. Inventory levels also affect your optimization. Products with low stock levels are less likely to appear on the first page of search results. Also, customers are more likely to trust a company with more units of a product available. Ensure you have enough inventory to meet the increased demand during the holiday season.
Sponsored Ads are an effective way to improve search rankings and drive traffic to your product page. You can run different types of sponsored Ads- Sponsored Product Ads, Sponsored Brand Ads, and Display Ads.
Sponsored Product Ads are an effective way to drive traffic to some of the best products available. You can advertise your best sellers for the holiday season and reach a wider range of customers who are willing to buy.
When a customer clicks on a Sponsored Product ad, they are directed to the corresponding product page.
Sponsored Brand Ads allow you to advertise a wide range of products and also drive traffic to your brand store. Customers can get to know the latest holiday offers and deals on your store using brand ads.
Display Ads allows you to target previous customers, updating them on the latest deals. This can entice them to make another purchase or complete a purchase previously abandoned.
It also helps drive external traffic to your product page.
Pricing is an important consideration since it affects your sales and profits. You want to pay attention to your competitor's pricing. You might consider keeping your prices lower than your competitors for the holiday season as this could increase your sales volume. However, you want to keep your profit margin in mind. Ensure you keep your prices as competitive as possible.
During the holidays, customers are on a hunt for discounts. Consequently, you can implement lightning deals for some of your products.
Lightning Deals are promotions where a limited number of discounts are placed on a product for some time. These are fast sales deals that can be found on the Amazon deals page for a few hours. To run lightning deals promotion, you must have a Professional Amazon Seller account.
Lightning deals help to boost brand awareness, increase traffic and sales on Amazon.
Here are a few criteria for your product's eligibility for lightning deals:
Brick and Mortar stores create seasonal displays during festive seasons. So why not take this approach to your Amazon brand store?
You can design a holiday-themed storefront using holiday-specific content. You can create gift bundles and reposition your products as holiday gifts. Tell your brand story in the most unique way using A+ content. You can experiment with colors and use high-quality lifestyle images that make your brand store stand out.
The Buy Box is a widget on most Amazon product listings. It allows buyers to make a purchase as easily and quickly as possible. Sellers can compete for ownership of the Buy Box.
Winning the Buy Box presents many advantages. The most obvious is an increase in sales. Customers will most likely shop for an item that has the Buy Box regardless of who the seller is. This means that winning the Buy Box during the holiday season will double your sales.
Here are a few ways to become eligible to win the Buy Box:
With over 200 million Prime members all over the world, being prime eligible presents enormous benefits for your business. The first is, you can offer one to two-day shipping which most Prime customers subscribe for.
Also, being Prime eligible increases your search visibility. Customers filter for Prime-eligible products, so they are likely to find your product when searching.
It also helps you win the Buy Box which translates to an increase in sales.
If you sell with fulfillment by Amazon (FBA), you are automatically Prime eligible. If you are not selling on Amazon FBA, you can join the Seller-Fulfilled Prime (SFP) program. Once you meet the requirements, you can sell on Prime.
Product returns are an inevitable part of selling on Amazon. Amazon has extended its holiday return policy requiring that products purchased between October 1st and December 31st, 2021 be eligible for return through to January 31st, 2022. While this may not be convenient for an Amazon seller, it is important to ensure your product listings are well-optimized for the marketplace. It is also important to create a contingency plan for the holiday season.
One way to attract new and existing customers is to deliver quality customer service. During the holiday season, shopping can get quite complicated.
The best way to ‘wow’ your customers is to create a memorable shopping experience. Be professional and courteous, respond to their inquiries within 24 hours, and don't forget to send thank you notes after they make a purchase.
Quality customer service will spur positive reviews which improves search rankings and attracts new customers.
This holiday season is a golden opportunity to drive volumes of sales and grow revenue with Amazon. With the tips mentioned above, you can stand out from the competition, drive traffic to your product page and increase sales and profit.
You can also contact ePlaybooks to help you evaluate your business and define strategies that will help you boost sales and curb risks during the holiday season.