Competition in the Amazon marketplace is heating up, with more people deciding to try their luck on this giant online retail forum. With the increasing number of Amazon vendors, a retailer has to be creative to stand out and be profitable.
One way to learn effective retail strategies and get noticed is to attend ecommerce exhibitions like PROSPER Show, where experts share cutting-edge techniques for selling success. You can then incorporate the ideas into your own online business. Below are some takeaway tips.
- Don’t underestimate customer reviews – More than 80 percent of online shoppers trust consumer reviews. Many shoppers consider reviews as personal recommendations that persuade them to buy a particular product. Using programs that will encourage customers to write reviews after purchases may boost online sales.
- Take your SEO up a notch – Amazon’s internal search engine algorithm considers product title keywords, among other things, to determine search result rankings. Try using keyword research tools to come up with keyword variations that help improve your search result rankings.
- Win the Buy Box – You will have a distinct selling advantage when you win the Buy Box. Buy Box winners are determined by availability, customer experience, fulfillment and pricing. Make sure that you maintain a competitive edge over other sellers by monitoring their prices 24/7. Even a one-cent difference in pricing could be a deciding factor. When your competitor empties its shelves of a particular product, your price for that item should automatically increase to ensure maximum profit.
- Offer discounts – Deep discounts will give you the chance to appear in the “Hot Deals” and “New & Noteworthy” categories of Amazon and attract ensuing traffic. Discounts can easily convert highly motivated buyers and establish lasting relationships.