Top habits to maximise your amazon profits

http://mohsen.ir/?danilov=تداول-الخيارات-الثنا؊ية-للالولايات-المتحدة- Are you a new Amazon seller? If yes, then you are in the right place. If no, then your whole perspective of sales is going to change once you are done with this article. Making maximum profits is any business persons dream come true. With the breakthrough of the world wide web, opportunities have never been more flush. Amazon with its groundbreaking platform of buyers and sellers provides a stellar amounts of such possibilities and looking at the current scenario, is living up to its expectations.

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So how can I make maximum sales?

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here You have to realize that there are about 2 million sellers on Amazon right now with 2 lakh of them in India itself. So needless to say, it is a cut throat competition out there! But hold on……before the panic sets in, know this – as of 2016, there are 310 million active accounts!

traid autopzionibinarie This shows that generally speaking, you have decided to serve a market of 310 million buyers because even sellers need to buy inventory and you can potentially target them as well. Since it’s all online, it has never been easier to do this when trades are just a click away. Now enough talk and let’s get to the real deal.

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How to maximize my profits if I am a seller on Amazon?

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http://parkbarnyc.com/?flomasr=site-de-rencontre-des-anglais&c47=50 There is one simple, precise and a very straightforward answer to this question. It is-HABITS. No other blog/website will summarize it this simply. This is because every improvement that you have to do to improve sales and profits is all related to maintaining good habits. This blog will cover all those habits that you need to keep which will put you ahead most of the sellers and keep you at the top of the curve.

 

Habit 1: Test your items

It is such a common problem when items that sellers send out may be faulty or defective. This can greatly affect your position as an Amazon seller and cause harm to your profile and affect customer satisfaction. As a result of which your sales will decrease and profits and margins will go down the hall. We don’t want this for you because we care about your money. Test your products and make sure that each of them works to satisfaction before shipping them out and you will have built a trustworthy reputation for yourself as a seller.

 

Habit 2: Don’t touch products with bad reviews

 

 

Poor reviews

 

Because of so many products available online it can become a mess to select which to add to the inventory and which not to. However the best way to do this is to go to the products reviews and consult the opinion of its past buyers. A lot of products are priced very lucratively at very low prices to get them off the shelf but they may be of bad quality or defective. You will be tempted to buy that in bulk in order to make good profits but you need to take an average of the reviews and decide if it is a risk worth taking.

 

Habit 3: Save your receipts

 

 

Reciepts

This is a very simple habit to maintain. However it is important too. When sellers are busy making profits with high velocity commodities and trading in units in large numbers it is easy to miss out on something so trivial as receipts. However to analyze your business and see where it  is headed or how it is going it is important to have records of all transactions both virtually and in hand. Receipts enable that. More importantly according to Amazon’s rules  it is mandatory to do more than about $20,000 in sales to claim the $10.99 commission. However even if that is not the case  one can still apply for other benefits for which receipts come in handy. If you’re starting out this will be a great practice for you!

 

 

Habit 4: Price your products correctly

In order to beat the competition it is very tempting to cut down the price for your inventory in order to make it sell. This may be a good trick but it happens so commonly that sellers price their items very low very quickly. This enables quick sales but eats into the profits. This should be treated as a last minute measure to clear off the inventory only. Impulse sales and impulse pricing is a bad habit and we want you to know that your products are worth much more than what you may think on a bad sales day.

 

Habit 5: Holding on to losers

A lot of times sellers buy products that do not perform well in the market. This happens when the product is seasonal or the result of a vanished trend (like the fidget spinners!!!). It is very important to let go of these products instead of waiting for them to sell because not only will this eat up the space you could use for your new inventory, it will also consume your time, money, effort and thoughts which you can use more productively for other projects and sales.

 

Habit 6: Shipping late as a merchant

Shipping late

As mentioned before, your reputation as a seller is of extreme importance. To ensure its safety it is important to be punctual in your deliveries. This means that as a seller if you’re making the sales as a merchant you have to make sure the shipping time is as minimalistic as it can get.

 

 

angry customer

 

 

Habit 7: Regularly removing negative feedback

In addition to habit number 6, it is important to, for maintaining your reputation, regularly remove negative feedback from your merchant profile as you may get flak for things that may not be your fault which you can then ask Amazon to take care of. It may not sound as the most ethical of all habits but we are sure it will not disrupt your profits.

 

Habit 8: Research well into your products

research into profits and profitable markets

 

 

 

 

 

 

 

Many a times it becomes tempting to buy loads of a product that you may think is reasonably priced at the current time and expect to sell it higher to make more profits. However it is important to look deep into the products pricing trend. A lot of products get low priced suddenly to clear the shelves but that may indicate a loss in demand of it too. To be completely sure do check its pricing history which you can do on Amazon FBA itself. Another way to check on competition and check on the same is to use services of websites like Camel Camel Camel or Kepa.

https://camelcamelcamel.com/

https://keepa.com/

 

Habit 9: Consider ranks but do not use only that as priority

A lot of products exist on Amazon that are quality products with good reviews but sometimes an average to high rank. Such products may not be lucrative and you may not be so sure of the quality. But you can refer to the reviews as we have advised before. Once you are sure that the quality is decent see if the product has potential to do well. If so then don’t worry about immediate sales. Just because the product had a surge in that particular month and not as big sales as expected in the current month , does not mean it won’t perform well in the coming say, 6 months. Always keep this in mind and you will do great margins.

 

Habit 10: Amazon promotions = higher profits

 

amazon promos = profits

 

 

 

 

 

 

Utilise Amazons’ promotions and make sure you know when they’re on. This will give great traction to yourself as a seller and make you visible to a whole category of buyers who may not have had the pleasure to do business with you. With great and amazing deals out there it is a total win-win at the expense of Amazon’s extensive marketing and promotions.

 

Habit 11 : Always collect sales tax:

It is always a good practice to add sales tax to your priced goods so that you won’t have to pay it from your profits while doing your taxes. This can be taken as a combined practice with our very first tip of saving receipts!

 

Habit 12: Don’t spend too much manual time repricing

Once sellers start accumulating trades exceeding that of a few hundred they realize that it becomes difficult and tedious to maintain each trade individually. You as a merchant will have to keep up with the present competition to price products that you have put up for sale months back. We realize you cannot do that manually and to make the best of it we advise you to use software reprices for the same. Doing so will again put you ahead of the curve and work wonderfully . We recommend you to check out a few repricers that we have attached below just for you.

http://www.https://www.repricerexpress.com/

http://www.sellergro.com/

 

Habit 13: Always send in enough product for stable profits

This problem exists mostly for relatively new sellers, when they are unsure about a products performance in the market. This enables them to buy less amounts of it. As a result if the product gains popularity or becomes a high velocity sales product it can lead to nightmares for you! People not being able to buy your products will definitely have a sour experience with you as their merchant and we want to prevent that. Hence we advise all sellers to, based on present market conditions, analyze and set an average number of appropriate goods to keep in the inventory considering risk and the probability of it both being sold or stocked. Depending upon your portfolios your average for each product will be uniquely defined and we advise you to stick to your average!! This way, you will stick to your profits!

 

Habit 14: Evolve constantly to keep up with change

 

Evolve

 

 

 

 

 

Nothing is constant but change! Truer words have not been spoken before. This is much evident in business too, just like all other aspects of life. The key here is to constantly keep tab on the current market conditions and general trends of popular products. This will require a constant research from the sellers side to understand and figure out what the buyers will be willing to pay for and for how much.

There have been instants when a product has surged in popularity for a very short period of time (like the fidget spinner). This made sellers buy the product in enormous bulk. However once the trend died astonishingly quickly, the demand went down and so did the sales. This resulted in a huge loss in profits and margins. Hence no matter what the present market conditions are, we advise you to try to predict the future markets and see what holds in for you.

 

Habit 15: Network constantly

 

network

 

 

 

 

 

 

Business is all about placing the right trade in the right hands. You never know which person or entity will be responsible for your next big sale. To get to know about the best deals available before hand and stay above the curve and look out for great profits, it is important to network constantly with as many people as you can. This will always be helpful and will be the best optimum way to grow.

 

Success

 

 

 

 

These were a few habits that http://onlinesellerindia.com believes will help you make the most of your. Check out our other articles and make sure you follow us and share us with as many people as you can .It is a wonderful time to be alive where everyone can make money and call it a win-win.

 

 

 

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