Stop Losing Money On Amazon [Holiday Edition]

video Jul 21, 2019

 The biggest sales season of the year is coming up fast (October/November/December)! Are you ready for your first Q4 or to increase your sales from last year? GREAT! Us too... so we are sharing essential tips and tricks to help you prepare for this holiday season. We will also cover crucial mistakes to avoid so you stop losing money and are all set for your best Q4 ever!

WATCH:

SPECIAL Q4 WEBINAR on July 29, 2019

We are teaching our LIVE Q4 Jumpstart Class on 7/29/19. This class is what to sell in Q4 along with strategies, plans and a holiday calendar with important dates, holidays and deadlines. Sign up  www.mommyincome.com/Q4

WAYS YOU MIGHT BE LOSING MONEY RIGHT NOW IN YOUR AMAZON BUSINESS

#1 Bad Inventory Management/ Planning

  • You cannot sell what you do not have.
  • In order to have enough inventory to sell during Q4 you need to have money to purchase 
  • Make a plan to save extra money for additional inventory
  • Take advantage of wholesale terms, dating
  • DO NOT NEGLECT replens and evergreen products

#2 Shipment Timing

  • Create new bundles and listings early to give them time to index
  • Order EARLY (we already have all halloween, TG and Christmas and NYE items ordered)
  • Ship same day for retail arbitrage
  • For RA….shop more often. Ask when new shipments will come in
  • FBA warehouses are overwhelmed during this time. Smaller shipments will help faster processing. Less more often

#3 Chasing after Hot Trends

  • Remember pie face, speak out, hatchimals? So many people got stuck with these 
  • There is plenty of profit on other things. Do not chase trends. They are unpredictable.
  • Shiny objects won’t pay the bills long term. Look for steady consistent profits
  • If toys aren’t your comfort zone, no worries there is PLENTY to sell (Q4 class PLUG)

#4 PRICE PANIC

  • People are used to 2 day free shipping
  • People order at the last minute all the time
  • Do not panic and lower prices
  • Items sell after holidays
  • Watch prices and RAISE them when competition sells out
  • Trust facts not fears. 
  • Watch and trust Keepa/camel charts set up price alerts 

#5 TRUST the data

  • Read and look at past data 
  • Buy MORE than you think. (Avoid “I wish I bought more” syndrome)
  • Look at last year's sales if you have them
  • Plan ahead and do research 

TIPS & TRICKS

  • Don’t let fear stop you
  • It's a great time to test new things. 
  • Many people who aren’t normal everyday Amazon users use Amazon much more in Q4 than other times. 
  • MOST things sell in Q4 but you can’t sell what you don’t stock.
  • 10% increase will help. Add 10% seasonal to each order you place or trip you make.

Wishing you all the Q4 Selling Success!

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