Aided by a robust festival season and customer spending, the Amazon Great Indian Festival Sale, is set to create a whopping sales record. Because of the prevailing conditions created by the pandemic, more and more consumers are going to shop online. As a result, this flagship event is going to witness an unprecedented surge in demand and sales during the festival season in India. Businesses must be prepared in advance to tap into the growing opportunities during the Q4 season.
In this article, we are going to examine key factors to consider to win big this festival season:
Inventory Management to cater to the massive surge
Usually, a 30 percent to 50 percent rise in sales is observed during Q4 as compared to Q3 for most sellers on Amazon. As the demand is expected to skyrocket during this season, it will be essential to aggressively plan inventory to keep up with the uptake in sales.
– Inventory forecast and Q4 history – You need to extensively analyze previous years’ Q4 sales history, demand surge, and various marketing initiatives, to make an educated decision. It is important to forecast inventory requirements and ensure their delivery to Amazon on time. In the past few months, it has been reported by several sellers that despite delivering to the warehouses on time, there have been instances of large delays by Amazon in inbounding their inventory. To avoid such problems and losing out on the sales window, inventory management becomes extremely vital for success in Q4.
– Fee optimization and Storage space – All the FBA sellers should keep in mind that Amazon’s storage fee rises dramatically during Q4. It is advised to create the removal of orders for stranded and unfulfillable inventory. The storage space can be used more optimally like this, particularly in the case of Amazon placing storage limitations on many accounts and products.
Well-thought-out pricing strategy for unparalleled results
For raking in revenue during this time, a detailed and intensive pricing strategy is a must. It will help outdo competitors and draw more customers.
– Efficient aggressive pricing – The product pricing should be kept competitive to not only attract more buyers but also to win the Buy Box/Featured Offer, which directly leads to increased sales. The products can become more competitive with help of a well-planned pricing strategy without incurring a loss, and thereby, reap more sales during the festival season.
– Monitoring price changes – You should closely monitor all the price changes happening 30 days before the event as it will serve as a benchmark for prices on the event days. Price drop/increase arrangements should also be balanced with the inventory at hand.
Optimization of product listings to make it specific to the event
Ensure that your Amazon product listings are optimized according to the specific requirements. Before the Q4 season, you need to employ the rest of the year to understand the tactics that work best for your products.
– High-conversion descriptions and photos – Before making any decision, you must test your product listings with different images and titles and then select the one with the highest conversions. Your product photographs and descriptions should be according to the Amazon guidelines. Make sure that the mobile device listings are also optimized.
– Targeted content – Wholly examine your listings to ensure that you are targeting the appropriate keywords. To meet the demands of the festive season, you should tailor your A+ Content accordingly. One way to do this can be by identifying product specialties and advantages to highlight the seasonal significance and gifting opportunities.
Finetune your ads campaign to budget for the festive season
An effective, practical ads campaign strategy can publicize your products to a larger audience and help boost traffic as well as the overall conversion rate. During this season, the cost rises massively, therefore, carefully spend your ads budget.
– Keywords and search placements – It is advised to bid more aggressively on the relevant keywords and concentrate on top search placement to drive more impressions. Diversifying spends is also one of the main focuses of the festival season. You need to explore placement in the main competitive categories. During peak season, increase spends on sponsored brand and product campaigns as they drive better conversions.
– Prioritization of Products – Determine the products that work best for this season. These products must have a considerable number of product reviews, should be apt for festive shopping, contain a 3.5-star rating or above, and should guide to appealing product detail pages.
Competitive deals and Promotions strategy that enhances visibility
A robust promotion and deals strategy will help increase the visibility of your products and lure more consumers. These deals are starred on high-traffic pages directly resulting in greater product promotion.
– Amazon’s gift guide – Amazon FBA sellers should apply to feature their products in Amazon’s gift guide. For sellers involved in categories such as handmade items, health, electronics, beauty, personal care, they should strive to get their products included in the gift guide. You should keep the deadline for the same in mind and prepare for the application in advance.
– Participation in sales events and offering promotions – The sellers should enthusiastically participate in the Diwali and year-end deals to boost traffic and conversions. You should keep a track of these as Amazon has cut-off periods for promotional offerings. Moreover, coupon-pages are highly visited during this time as people are on a lookout for the best deals and offers. Therefore, coupons can increase visibility by placing your products on Amazon’s coupons pages.
All in all, the Amazon Q4 season demands a lot of preparation. It can be quite overwhelming for sellers as numerous products battling for the same position. The sellers must prepare for this season in advance to make the most of it and surpass the competition.