Tips to Maximize Revenue on Amazon Holiday Sales
Amazon.com has been a standout performer in the virtual battle of online markets. Holiday season sales comprise a great part of revenue generated by Amazon sellers. As reported by New York Times, the sales in the last quarter jumped by almost 22 percent, which shows the significance of holiday sales for Amazon seller. With the holiday season around the corner, following are a few Amazon tracking tips which would be helpful in increasing sales on Amazon, this holiday season :-
1)Identify Niche Product
Holiday sales are a great attraction for buyers purchasing products which can be given as gifts. As a seller on Amazon, it sometimes gets difficult to identify potential products to maximize revenue. This is where niche analysis comes into play. Niche analysis is the identification of a potential product that gives you an edge over your competitors.
Spy around the Amazon market, to identify new dormant products and unearth niche opportunities. With the holiday season approaching with the speed of a tracer bullet, failure to prepare would actually result in a preparation to fail.
2) Gain Product and Seller Reviews
When it comes to selling your product on Amazon, gaining seller and product reviews is an important aspect. While purchasing a product, especially online, purchasers are very much susceptible on reviews. About 70 percent of the online shoppers, depend on product reviews while making a decision about whether to buy a product or not, as reported by a study conducted by Nielson.
In order to keep track of all the reviews and feedback’s about your product, try using an Amazon tracker, which would assist you to manage the reviews and keep track of the feedback, scouring you to keep your primary focus on maintaining product quality.
3) Improve keyword research
Product itemizing, or in simple terms “listing” is triggered by the quality of your keyword research on Amazon. While some users suggest that the importance of keyword research only acts useful when it comes to listing books or selling books on Amazon, but the reality is the algorithm used by Amazon for searching, is similar to that of Google, which means that you need to have a good research base while searching keywords which best describe your product to have the best listings on Amazon.
While keyword research plays an important role when it comes to achieving high sales and returns on investments (ROI), it is an uphill task to research the whole Amazon market place to look for the keywords which not only help achieve high rankings, but must also match your product portfolio.
4) Keep track of price trends
Holiday sales is simply a synonym of “increased competition”, while talking in reference to Amazon sellers. Price tracking is an important aspect of selling your product online. Try keeping an eye on the crests and troughs of price trends of related products and try to identify the underlying pattern. Markets change with the blink of an eye, therefore, it’s important to keep your eyes open to identify any eccentric price trends.
With thousands of products of similar nature on offer, it might get back-breaking for an average seller on Amazon to manage a data of that magnitude. A number of Amazon price trackers are there to aid Amazon sellers to identify the price trends in order to beat competition and increase sales.
Contributed by http://www.amzinsight.com/