OnDemand WTP Pricing Research

4 Strategies for Sellers to Win Amazon Prime Day 2018 | multichannelmerchant.com

Ultimately, the biggest Prime Day challenge for sellers is to determine the perfect harmony of product listings, pricing, inventory, and advertising spend, leading up to, during, and after the official holiday. Sellers cannot think about Prime Day as a singular sales day, but rather as an entire month of strategic customer acquisition. Lead-up activities — everything that sellers can do between today and Prime Day to prepare — and lead-out activities — the actions that sellers take to continue the sales push after the holiday — are just as important as a seller’s day-of sales strategy.

There are several best practices that sellers can take into consideration to ensure that this holiday is advantageous for their Amazon store, and that they are creating a customized and convenient shopping experience for the customer. Below are tips for sellers to keep in mind to take full advantage of Prime Day 2018, and to help carry their momentum through the end of summer:

Follow the 80/20 rule
The general rule is that 20% of your selling items generate 80% of your sales. Don’t use Prime Day traffic to launch new products or test new products in your market. Instead, optimize the most popular items in your inventory to drive the highest possible rate of sales volume.

Establish a strong pricing strategy
For competitive pricing, sellers should drop their prices in order to get rid of as much inventory as possible. Even if your competitors are participating in official Prime Day deals, if your product is priced lower and your listings are optimized, you’ll be more likely to win the Buy Box. Sellers will need to pay closer attention to repricing during this time period. Flexibility will also be key – with increased traffic, you will likely need to reevaluate your pricing strategy on an ongoing basis.

Read complete article here:

4 Strategies for Sellers to Win Amazon Prime Day 2018.

Post a Comment

WP-SpamFree by Pole Position Marketing