Tips to Boost Sales on Amazon.com
Most retailers are well aware of the enormous benefit of selling products on Amazon.com. Far and away the most dominant e-commerce site, Amazon reported net sales of $10.88 billion in the third quarter, a 44 percent increase vs. the same period last year. Amazon is simply the most powerful selling tool for any online retailer — and its influence just continues to grow.
Amazon provides local sellers a great way to connect with buyers all over the world. But there’s certainly much more to generating revenue than simply dropping a product on Amazon and waiting for it to sell. Savvy sellers know that the retailer who wins the sale on Amazon is often the retailer who controls the “Buy Box.” The Buy Box is a blue dialog box on the right side of any Amazon product page that gives consumers a quick option to add an item to their cart. Since multiple sellers could be offering the same product on Amazon, controlling the Buy Box can significantly affect the number of sales earned.
So how do you win the Buy Box? Well, basically the same way you earn more sales. Amazon recognizes a strong seller portfolio and rewards them with the Buy Box. There are many factors contributing to a retailer’s good standing with Amazon. If you offer a lot of items on Amazon, it’s a good idea to invest in a professional to monitor your Amazon account. This will ensure you’re following all of Amazon’s guidelines and customer service policies.
Pricing may be the most important aspect of Amazon you should be paying attention to. As with the rest of the retail industry, effective Amazon pricing is a tough mark to hit. Sellers must master the balancing act between generating the most revenue while offering the lowest prices to attract more buyers. Keep a close eye on the pricing of your competitors on Amazon. Competitive pricing (including shipping costs) is among the top criteria Amazon uses to determine who is the Buy Box retailer. Having the lowest sale price doesn’t guarantee the Buy Box, but it’s a big step towards it.