Black Friday has been long known as one of the major retail shopping events of the year.
For this reason, retailers are offering up to 30% discounts on popular items. That is why buyers can expect to obtain big savings by purchasing markdown items. In fact, if you are planning to buy products such as HDTVs, laptops, and others you can expect for considerable rollbacks. Most likely, retailers are giving big discounts of products that are about to replace with new improved versions.
For Amazon sellers, it’s more than that. It’s their chance to grab the biggest chunk of their annual revenue. If you are one of them, read these five ways to make the most of Black Friday.
Don’t wait until Black Friday to begin marketing to shoppers. It’s crucial to prepare your marketing strategies and inventory ahead of time. Encourage more shoppers, boost brand awareness and invest in more sales.
To keep the huge demand for Black Friday fever, you need to save enough products in your inventory. Because stock sells through so quickly during this time of the year, it’s important to monitor your inventory because you can keep track of the unsold units and then sell those at a higher rate later.
However, it can be a daunting task. Take advantage of SellerPrime. This will make your job easier by simply setting a notification for tracking orders. Through this, you can maintain a well-stocked inventory.
How can you set yourself apart from the competition? You may use free shipping as your edge over the competition. Take advantage of it to lure more costumers. As a matter of fact, you may bundle, cross-sell or up-sell to improve your sales more than you’ve expected.
There’s always a product that is specifically high selling, hot, or trending. This doesn’t necessarily mean that you need to make it as the backbone of your listing, but you have to consider stocking them. At least spend an hour or so every day on sourcing some trending products which you can bring in. With this, you can make your existing and potential buyers satisfied and can make them stay on your page and purchase more items.
Black Friday isn’t just the best time to make money from selling items. It’s the perfect time as well to purchase products and stock up your inventory inexpensively. By doing so, you could turn around and trade those things later for a higher rate.
Enjoy your wonderful bump in sales. After this holiday season, don’t forget to focus again with your overall goals for your online business.