The holiday rush is over and you can relax after all the effort you’ve put into 2019. But it’s no time to get complacent, as you’ve got to focus on Amazon sales for Q1 now. To keep the momentum going, RepricerExpress has five tips you can use in 2020.
1. Leverage Q4 Sales Into Making Q1 Successful
If you’ve done everything right, then your Q4 will have been your most successful quarter of 2019. And to keep the momentum building, reinvest the profits you made in Q4 into Q1 so you can keep sales high over the long-term. It’s tempting to put that money into a savings account — while you should put some money into there, you should also put some profits into the next quarter. There will be buyers who want to get a super early start on next year’s holidays, there will be buyers who missed the boat on 2019’s holiday specials, and there will be buyers who will be looking to make use of the Amazon gift cards they got as presents. Being ready for those sales means you can reduce the post-holiday slump by a lot and pad your Q1 more than other sellers.
2. Turn Holiday Items Into Cold Weather Items
For many buyers, winter lasts a lot longer than just Christmas. And if you can ‘transform’ Christmas items into winter items, then you’ve got a good shot at boosting your Amazon sales in Q1. For example, things like skis/snowboards, sweaters, jackets, gloves, scarves, boots, car accessories and outdoor items are frequently bought to be given as Christmas gifts, but they still have use through January and February (and even March and April, depending on the climate). Highlight these products’ important points as being necessary for the next several months (instead of the holiday-themed copy previously used) and reach out heavily to buyers in colder climates.
3. Diversify By Not Focusing Too Heavily on Seasonal Sales
Christmas sales are one of the biggest money-makers for Amazon merchants, but don’t let that become your golden goose. Instead, diversify your inventory so you’ve got good products available year-round. Look for items that have high potentials with low turnovers, and then add in some low-margin high-turnover items to balance things out. This way, you’ll have a good selection of products to keep sales even and consistent in Q1 (and the rest of the year).
4. Start Thinking About 2020’s Holidays
The next big holiday on your calendar is Chinese New Year (25 January), Valentine’s Day (14 February), St. Patrick’s Day (17 March) and Easter (12 April). And though it’s not an official holiday, many Americans consider the Super Bowl (2 February) to be one. This gives you a huge opportunity to move products in multiple categories, like candy, clothing, books, videos, gift baskets, electronics, decorations, toys, beauty care and more. Right now, you’re in a good position to start the prep and get a jump on your competitors. But don’t wait too long!
5. Keep Things in Perspective
Lastly, with all the work you’ll be doing to get ready for Q1, it’s important to keep everything in perspective. Q4 is a giant quarter and not really reflective of the entire year. It’s incredibly tough to match those sales no matter who you are, as people just don’t spend as much in the other three quarters. Buyers have spending hangovers and can’t part with as much money as they just did, so don’t inflate your expectations based on how you did in Q4. You should instead be looking at Q1 as its own distinct quarter with its own distinct personality and realities, and based your strategies around that. And instead of comparing Q4 to how you do in Q1, tweak your expectations so you’re comparing 2019’s Q1 against your Q1 from previous years. This will help keep expectations in check and help you surpass your Q1 performances from other years.
Bonus: Tips for Top Amazon Seller Stephen Smotherman
- Feed the beast: When January hits, keep sending inventory to Amazon. The more items you have in Amazon’s warehouses, the more opportunities for sales.
- Keep on top of returns: January can be a busy time for returns after a busy Christmas period of sales. Make sure you follow this six-step guide for dealing with Amazon returns.
- Adjust your sales expectations: After great sales in Q4, Q1 can be a bit of a comedown for many sellers. It’s normal to have “slow sales days” so don’t fret too much — just keep working on building your FBA business.
- Adjust your sourcing expectations: When sourcing inventory in Q1, revisit your sourcing parameters and only buy inventory you expect to sell well in the first half of the year.
- Always look ahead: To be successful long-term you need to develop a proactive business strategy. Sellers need to look ahead to the next month, next quarter rather than looking short-term.
Source: Full-Time FBA
Once you’ve got all your strategies set for Q1, the last thing you’ll want to take care of is pricing. Making sure you have the most competitive, aggressive and fair prices on the market can help boost Amazon sales for 2020, especially if you’re using RepricerExpress. And to make things a little sweeter, you get the first 15 days entirely free when you sign up now.