Christmas is coming! Christmas is coming! Well, it’s still a few months away, but for online retailers, the preparation started months ago. RepricerExpress has gone undercover to scoop up the best tips if you want to outsell your Amazon competition this holiday season.
#1. Don’t Focus Too Much on Any One Holiday
It’s tempting to put all your eggs into just the Christmas or Black Friday basket, but that runs the risk of not taking advantage of the other holidays out there. While we always advocate handling just as much as you can — and then a tiny bit more to get you out of your comfort zone — you don’t want to swing too much the other way either.
Black Friday, in particular, is very appealing to merchants because of the sheer number of shoppers who take part in it, given their last-minute tendencies in gift-buying. But you know what? Thanks to the comfort and ease of buying things online, consumers are starting earlier and earlier every year.
Be there to greet them at the gate instead of waiting for the only the Black Friday/Cyber Monday stragglers.
2. Showcase Your High Achievers
If your workplace is having a special visitor, are you going to show Slow Joe from accounting as an example of the best your company can do? Not a chance! You’re going to cherry-pick your best and brightest employees to make the best impression possible.
Same thing goes for your product line. Let your slow-selling items take a temporary back-seat during the holiday season while you bring your stars to the fore to shine. Going for the Buy Box will have an extra impact in the next few months, so drive the products that’ll get you there (and you can leverage that to help along your slower ones after the rush is over).
#3. Try to Avoid Price Gouging (A Little Bit)
Look, the holiday season is the perfect time to hike your prices and make some extra profit. You know that, buyers know that, and we all (un)comfortably co-exist with that fact for a couple of months during the year.
But there’s a difference between hiking prices a little bit and really gouging your buyers’ wallets. You already have the advantage of extra quantity; don’t exploit that too much. A good rule of thumb is to avoid pricing more than 10-15% higher than the average price list.
#4. But Also Be Ready for Lighter Profit Margins
The downside of the previous point is that while there are going to be a ton more shoppers online, there are going to be a ton more shoppers online.
What we mean by this is the balance of supply-and-demand will shift into the consumers’ favour, giving them the edge in choosing products and prices that suit their criteria. You may have more potential buyers to attract to your shop, but they know retailers are going to be ramping up their games and will use that to better their own situations. So, the result of this is your profit margins may thin out a bit because you’ll have to be more competitive in your pricing.
Related reading: 7 Top Holiday Pricing Sourcing Strategies for FBA
#5. Don’t Let Your Listings Slip and Slide
This is the third point in a row we’re referencing the extra influx of buyers and for good reason. When you’re dealing with extra demand for your products, that increases the number of eyes on your site. And when that happens, the likelihood of eyes spotting mistakes also rises.
You never want to have erroneous or misleading listings, but this time of year can be especially damaging for your business. Get a product description wrong or leave out one image, and those droves of buyers won’t hesitate in leaving your shop for one that’s in perfect order.
#6. Get Help With the Workload
Last but not least is delegating your tasks so you can stay sane and on top of things. We know not everyone can afford to hire temp workers, but you also don’t have to go to such lengths.
Instead, start small — with a step that’ll have huge returns — by signing up for FBA. It’s ridiculously easy to use and means that as soon as a shopper hits ‘buy’, you can jump onto the next task and keep the ball rolling.
Final Thoughts
One thing you also don’t want to worry about is repricing with speed and savvy, so let RepricerExpress give you a holiday helping hand. The only thing we ask in return — along with maybe a candy cane or cup of cocoa? — is that you sign up for your free 15-day trial.
