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Monday, April 22, 2024

Best Ways to Fix an Amazon Sales Slump

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Third-party sellers are increasingly required to make the most of every sale on amazon sales and stand out from other sellers in the saturated marketplace.

While it is normal for sales to see slight increases and decreases due to the changing nature of the marketplace, sellers need to be proactive to avoid sales drops that could significantly impact their bottom line. We have identified the top eight ways to increase Amazon sales depending on the root cause.

1. Regain Amazon Buy Box Share

Sellers experiencing a slowdown in Amazon sales are most likely since they have lost control of their Buy Box placement. Competitive sellers should pay attention to products competing for prime positioning, as over 80% of Amazon’s revenue comes through the Buy Box.

Many variables can affect the Buy Box; some have more weight in Amazon’s algorithm. It would help to focus on the factors that will most impact your business’ performance. 

Check your product listing to see if anyone is trying to fulfill your order. You may be competing with other sellers for the Buy Box. You can also view your Seller Central account to see if the Buy Box has been retained.

2. Understand Your Products’ Seasonality

Researching seasonality trends, which may impact a product’s sales velocity, is essential in scouting new products. Unfortunately, many sellers need to pay more attention to this step. Tracking monthly, quarterly and annual sales by SKU is a valuable tool to implement in your business. This will allow you to identify seasonal shifts and plan for the next year quickly.

Retailers that sell school supplies can expect to see an increase in sales in June/ July as students return to school. Ice melt sellers will also experience a sales slowdown in summer. Sellers should have plenty of inventory before Prime Day, Black Friday, and the holiday season.

3. Maintain Positive Customer Feedback

The Amazon User Study 2018: Getting To Know Your Customers eBook showed that nearly 90 percent of Amazon customers wouldn’t consider buying a product with fewer stars. Seventy-nine percent of respondents said they check third-party sellers’ ratings before purchasing.

Sellers need to be proactive to avoid negative reviews and amazon seller feedback. A bad review on a product listing could turn away potential customers or prevent existing customers from purchasing again. You should be patient and resolve any issues or mistakes within 24 hours. Also, keep an eye on reviews.

4. Improve Amazon Product Visibility

Amazon’s sales drop is because your products aren’t showing up in searches or aren’t visible on the marketplace. Sellers must optimize their Amazon listings with relevant descriptions, high-resolution product images, and exact keywords.

Sellers should aim for their store to be on the first page in searches for their products. They should also participate in Amazon PPC ads like Sponsored Products or Headline Search Ads to increase product discovery to new customers.

5. Keep a Campaign Calendar

To be able to monitor their performance throughout the year, sellers must set goals. It’s easy to forget important dates when so much else is happening. A sale or promotion ending without your knowledge is another reason Amazon sales drop.

Did you run a holiday sale with a discount on certain items that ended on December 31st? This could be why January sales were slower than usual. You may also notice a drop in traffic and sales if your ad is expired on Facebook or any other social media platform. Sellers must keep an internal calendar that includes all the promotions scheduled for the year. This will allow them to be aware of any changes or lifts due to holidays or promotions.

6. Optimize Your Fulfillment Process

Whether you fulfill your orders via FBA, FBM, SFP, or a combination doesn’t matter. It is important to streamline the fulfillment process to avoid issues for end users. Keeping enough stock of the most popular items in your inventory is important to win the Buy Box and retain customer loyalty.

7. Maintain a Healthy Seller Account

It is crucial to building credibility as an Amazon seller. This will help you increase your Amazon sales. Show that you can provide excellent customer service and avoid shipping and logistical problems. Sellers must check their Seller Central metrics daily and take the necessary steps to ensure healthy order defects, cancellations, and late shipment rates. They should concentrate on the most critical performance metrics to make a difference in their business’ profitability.

8. Ensure Your Pricing Is Competitive

Amazon shoppers still consider price to be the biggest factor. The product’s total price plus shipping is an important variable in Amazon’s Buy Box wins. Sellers need to set competitive prices to compete with other sellers selling similar products. A machine-learning solution automates your pricing and determines the optimal price for each item in your catalog. This allows you to focus on your business goals.

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