It's all about the buy box.
I've seen a number of graphs that indicate that December 15-18 traditionally brings the most sales to Amazon FBA sellers. In the spirit of selling through as much as possible during this peak time, I waited to reprice all low ranking products. The goal is to get the buy box at the most optimal time in order to increase the chance of taking a higher profit margin while selling thru.
I created a table to monitor selected items in my inventory over the next four days, so that I can reprice when the time is right. It's all a guessing game really, but armed with data the probability of making a sale at the price you want increases.
This is my table. You can either make one yourself, or get a pdf copy out of the files on The FBA Flip Side Facebook group.
Item / ASIN - In this column I wrote (in pencil) the item / ASIN, plus I wrote down my COGS, then I calculated the lowest I could go on the item and still make a dollar or two in profit and wrote it in red. I did this to save me time running it through the FBA calculator each time I look.
# in stock - the quantity that I have in stock
Rank - I am taking the temperature of my inventory each morning and evening, so I wrote the morning number at the top of the box in order to make room to write the evening number. I want to be able to reevaluate as I go.
# in line - I clicked on the Prime box, then counted how many sellers were in line ahead of me. I'm watching to see if I move up in line or not. This is significant because it's my best guess as to how long it will take for me to get within range of the buy box without cutting my price again.
Buy Box Price - I'm writing the current buy box price down, so that I can see how it changes each time I run through it again. My Price - I might adjust my price as I go, so I want to keep track of the changes.
# Seller / Quantity - Once I get within range of the buy box, I need to see how many of the item that each seller has in stock in order to estimate how soon I will get my turn and possibly sell out.
I designed this worksheet to help me get through the 4 days of the Prime buyer's holiday shopping explosion by maximizing my sales and moving my inventory out.
I've seen a number of graphs that indicate that December 15-18 traditionally brings the most sales to Amazon FBA sellers. In the spirit of selling through as much as possible during this peak time, I waited to reprice all low ranking products. The goal is to get the buy box at the most optimal time in order to increase the chance of taking a higher profit margin while selling thru.
I created a table to monitor selected items in my inventory over the next four days, so that I can reprice when the time is right. It's all a guessing game really, but armed with data the probability of making a sale at the price you want increases.
This is my table. You can either make one yourself, or get a pdf copy out of the files on The FBA Flip Side Facebook group.
Item / ASIN - In this column I wrote (in pencil) the item / ASIN, plus I wrote down my COGS, then I calculated the lowest I could go on the item and still make a dollar or two in profit and wrote it in red. I did this to save me time running it through the FBA calculator each time I look.
# in stock - the quantity that I have in stock
Rank - I am taking the temperature of my inventory each morning and evening, so I wrote the morning number at the top of the box in order to make room to write the evening number. I want to be able to reevaluate as I go.
# in line - I clicked on the Prime box, then counted how many sellers were in line ahead of me. I'm watching to see if I move up in line or not. This is significant because it's my best guess as to how long it will take for me to get within range of the buy box without cutting my price again.
Buy Box Price - I'm writing the current buy box price down, so that I can see how it changes each time I run through it again. My Price - I might adjust my price as I go, so I want to keep track of the changes.
# Seller / Quantity - Once I get within range of the buy box, I need to see how many of the item that each seller has in stock in order to estimate how soon I will get my turn and possibly sell out.
I designed this worksheet to help me get through the 4 days of the Prime buyer's holiday shopping explosion by maximizing my sales and moving my inventory out.
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