Most online retailers are never fully ready for holiday sales. In fact, most sellers just
guess at the season’s projections. It’s no wonder that, although online retail continues to grow at an exponential rate, significant profit margins continue to elude independent sellers. Why? Because without the right tools, selling on multiple channels is a losing game
Imagine an e-commerce ecosystem where all of your stores, marketplaces, software, and business applications actually work together to optimize workflows and profit margins during the potentially game-changing peek holiday sales.
Our new guide explains how automating your e-commerce sales, shipping, inventory, and accounting will prepare you for fair skies through the holidays, new year, and beyond.
Written by Tara Johnson for CPC Strategy
Amazon Pages is an Amazon Marketing Services (AMS) advertising feature that allows brands to create a customized landing page, giving vendors increased exposure on the Amazon Marketplace.
What Does The End of Amazon Pages Mean?
- Amazon Pages that are linked to Headline Search Ad campaigns will remain active until December 31, 2017.
- Amazon is now encouraging vendors to invest in “Amazon Store” to showcase their products and promote their brand. Read more about the end of Amazon Pages
Amazon introduced “Amazon Stores” as a free self-service product that allows brand owners to design and create multipage stores to showcase their brands, products and value proposition on Amazon.
What are Amazon Stores?
These multipage stores provide an enhanced brand-centric shopping experience on Amazon in desktop and mobile platforms.
Shoppers visiting an Amazon Store are able to see a curated collection of a brand’s products in a customized, brand-centric, shopping experience. Read more about Amazon Stores
How Amazon merchants can learn from Prime Day and prep for the holidays
It’s no secret that Amazon Prime Day 2017 set new records for both Amazon and its merchants. In fact, sales soared over 60% compared with last year’s Prime Day. Granted, all that exposure is great, but when merchants forfeit such significant portions of their margins to Amazon in fees alone, what other ROI can they glean from selling on the world’s largest marketplace on its biggest day of the year? At the very least, merchants can learn from their Prime Day data and adjust their strategies to fully maximize sales during the upcoming holiday season. Here’s a 5-step plan for priming those profits:
1. Get a sense for overall profit:
- After deducting marketplace fees, shipping costs, and promotions, calculate the profits (or loss) of your top-selling items
2. Learn what the optimums were:
- For each SKU you sold, plot out all your final selling prices and units sold at each price — the results should look like a cloudy curve.
- Now, take those sales prices and remove all the costs associated with each product (cost of the product, shipping, marketplace fees, etc.) and you’ll get a new curve that shows profit per item and units sold.
- Multiply the units by the price for each of the curves and you’ll be able to find price points that drove maximum revenue (first curve) and maximum profit (second curve). These should be your book-ends for future pricing of the SKU.
3. Fix issues before the holidays:
- Check in with your logistics team or provider to figure out where things broke. Were there late shipments? Out of stock items? False alarms because data wasn’t updated between systems?
- Understand what caused those problems. Maybe a disorganized warehouse, orders got lost, technical difficulties, system delays, under-staffing.
- Find a solution and a backup before the holiday rush.
4. Be better prepared for the Holidays:
- Take results from steps 1 and 2 and use them to update your projections for the 2017 holiday season.
5. Once you’ve optimized the third step, update again and enjoy feeling prepared for a great holiday season!
Hungry for more? Check out our webinar where we reveal insider secrets for identifying your MVD (most valuable data) on Prime Day and how to glean actionable insights from the world’s largest marketplace.
Come learn about the Virutal ERP for e-Commerce
Hey eBay sellers, we’re a bronze sponsor of the 2017 eBay Open conference, which, as you know, will be held July 25-28 in Las Vegas. Whether you’re a current customer, prospective customer, partner, or a superfan, please stop by and see us in person. To make it official and schedule a product demo with sales, email email@example.com.
On the left of the hall near the Innovation kiosk, we’ll be demonstrating how to build a simple, smart, and scalable online business with the essential e-commerce tech stack. For a little fun, we’re inviting all attendees to stop by and enter our “Guess the LEGOs” game for a chance to win an Amazon Echo or, the grand prize, six free months of the Virtual ERP for e-Commerce. While supplies last, entrants will be awarded with their own bag of LEGOs, and a winner will be chosen daily. Continue reading
Our new integration eliminates data entry between Walmart Marketplace and QuickBooks
We’re thrilled to announce a Beta program of a new integration with Walmart Marketplace that can empower you to radically simplify operations by managing your Walmart Marketplace sales orders, QuickBooks accounting, multi-channel inventory, and shipping all from one place. This important integration comes as Walmart last week reported 63% in e-commerce sales and 69% growth in gross merchandise volume, mostly from Walmart.com. Continue reading