The next 30 days should be the best 30 days of sales this year! Patience and perseverance are your friends this time of year, do not make short-term decisions, make long-term decisions! Many of us have been planning for Q4 all year, buying inventory, getting our finances in order, preparing meals in advance, hiring extra staff to source and/or ship to Amazon FBA. We have leveraged our finances, credit cards, credit lines, resources and loaded up Amazon with inventory.
Many of us have already experienced a slight or large uptick in sales in October and even more so in November depending on your inventory mix, pricing, inventory levels etc. The real fun begins on Friday, November 24th, 2017 and continues through December 23rd, 2017. Optimal sales are not Black Friday or Cyber Monday because people who shop on those days are looking for bargains whereas we typically sell at a premium. The best sales days for us historically occur the first 15 days of December and then there are sellers who panic and start lowering their prices because they have bills to pay in January.
Your strategy at this point depends on your risk tolerance/risk aversion. Some sellers hold out for higher prices to maximize profits while others are content to have made money and take what the market will bear at that point. Keep in mind sales typically slow down between December 23rd and December 31st. January picks up again and is traditionally a very strong month fueled by New Years resolutions, Amazon Gift Cards being spent and people buying what they want but didn’t receive, sadly it is also known as Returnuary as Amazon has a liberal return policy which fits their customer obsessive mission statement and allows customers to trust and buy more freely than say on Ebay.
Now is the time to adjust your prices on items that are in high demand to capture extra profits & margins as well as lower prices on items that are not selling or performing the way you expected they would when you sourced them. This includes products you sourced via Retail Arbitrage, Online Arbitrage, Wholesale, Closeouts and Liquidations, Amazon to Amazon Flips, Private Label and White Label. Remember, a rising tide lifts all boats so even poor selling products will have a higher sales velocity than normal, this is a good way to recoup some capital to reinvest into better performing items at this crucial time of year. We monitor sales daily through an Inventory Lab export and we see what is selling so we can possibly raise prices and replenish inventory if possible. We can possibly lower prices and move through some slower-selling inventory while the sales velocity, credit card spending and eyeballs are at their highest peak of the year.
We are here to talk strategies and they will be different for each seller because of their own unique situations, finances, time constraints, goals, definitions of success etc. Feel free to post questions here on facebook and we will do our best to answer them in a timely fashion. This is the best time of year to make money on Amazon, seize the day, play all out, commit 100 percent and don’t stop hustling until the 24th of December and then gear up for Q1, focus on health and fitness as those are the number 1 New Years resolutions, focus on the upcoming Superbowl and then a big Amazon surge holiday Valentine’s Day.
SAM E. COHEN
AMAZON CONSULTING EXPERTS
Author: Sam Cohen
Sam Cohen is the CEO of Amazon Consulting Experts. Through his years of experience, he propels his clients to financial freedom and e-commerce mastery. He is a multi-time best-selling author featured in publications ranging from Forbes to the New York Times and everything in-between.