Amazon is booming and individuals that are selling their goods on Amazon are also getting much higher traction from the audience. Running ads can bring huge success to sellers but for this sellers need to know when to run the ads or whether to run ads. As Amazon is getting more advanced with every passing day, it has become important to pay more attention to optimizing the inventory and sell more stuff by leveraging this peak time to boost sales.
After the pandemic, more sellers are coming online to sell on Amazon and it’s high time to take action and drive more traction. No matter how small or large your inventory is, following these tactics shared by SEO Company India, will definitely help you get ahead of the curve in 2021. On this note, let’s have a look at some transforming tips and tactics that you can follow.
Remove slow-moving products
Check out your inventory list and check which products are very slow on selling or they are lying in Amazon’s warehouse for the longest. There is no sense in keeping those products that are not adding much value to the overall ROI of your business. Sort the inventory list to check which products are slower or getting terrible ratings on Amazon.
Once you keep only the high-performing inventory and there is a lot of traction among those products, Amazon’s algorithm will see the traction and will rank the products in more competitive places so that more people see them.
Optimize the storage space
Based on your inventory performance index, the limit of maximum cubic feet of storage space is defined. When sellers don’t pay attention to how their inventory is performing in their account and what actions they need to take. If the sellers drop below the minimum guidelines they can have their storage restricted to as small as only 25 cubic feet.
When the storage area is smaller, it becomes even more difficult to compete with other players who have a bigger storage area. To ensure you have optimized storage space for your inventory, your inventory performance index should be hovering around 600. Focus on improving the sales and the overall IPI will also increase.
Focus on improving the IPI
If you are a new seller or selling on Amazon for a while with an IPI of less than 600, then you have to work on it to improve and bring more traction. First, you need to check your inventory’s threshold and generally, it’s around 450. To check it directly, you can check the current needed IPI in Seller Support under the option of FBA Inventory Storage Limits. For checking this, you need to log into your Amazon account and only after that you will be able to see it.
Focus on fast-moving items
Amazon checks for fast-moving items to recognize if the items you are selling are those that customers want to buy. The method to improve the sell-through rate is to send in small shipments of things that will sell quickly.
If you’re now leveraging LTL or FTL, it’s recommended that you move to small parcel shipments. It will help you to send more frequent orders without going out of stock for a longer period of time. As you’re restocking the goods faster, focus on those products that sell faster and move quickly to the delivery address.
When you do this, it will improve the overall sell-through rate and it will also support improving the overall IPI. However, If you don’t have a fast-moving item in your inventory that you can send to Amazon, you can consider listing products that are out of your regular product mix. You can also purchase the items via wholesale that will move quickly to accelerate the overall Sell through Rate. If you have started selling on Amazon by sourcing the products from a vendor, and they are not performing well, consider changing them. When you refresh the inventory, there are high chances that customers will take more interest in your new inventory.
Implement the feedback
If your customers are leaving some constructive feedback on your products or services then consider taking quick actions and improving the overall experience. When you keep improving the buying experience and getting high ratings for your products and services, there are high chances that the ranking will improve. Amazon’s algorithm will start showing more products from your inventory.
Final thoughts
Amazon will continue to boom in 2021 and beyond and it’s high time to optimize your inventory and boost your sales. Focus on the above tips and keep working on making the products and services excellent for the customers. The more customer satisfaction you get, the higher rankings you will achieve while selling on Amazon. Start optimizing your Amazon account now and keep these things in mind to thrive on success.