If you've ever sold products on Amazon, you've probably experienced the frustration of having aged inventory. Despite your efforts to increase traffic and boost sales, some items simply won't sell. To avoid extra fees, many sellers resort to aggressive promotions.
Have you ever found yourself in a situation where you created multiple promotions for the same product, only to realize that many of those products were given away for free? Rest assured, you're not alone. Double dipping occurs more frequently than sellers care to admit.
While it may be disheartening to experience losses, being in such a situation where your account remains stagnant is not necessarily negative. Here are some strategies to help you reverse this situation:
Ensure it is double dipping and not an Amazon error or glitch.
Glitches are part of selling on Amazon. In most cases, they aren’t as alarming and can be fixed within minutes or hours. In some rare cases, they suppress your listings or promotions. The first thing you want to do when you notice your products were given away for free is to end all your promotions and double-check if they were set up correctly. If they were set up correctly and were running smoothly before a random Tuesday, a glitch or a bug likely occurred. In this case, you want to be on support’s neck, have all your evidence ready, and follow up with support until you get your money back.
Be extra cautious when setting up a Buy One Get One Promotion. We’ve noticed these sorts of promotions often do not work correctly. If you have a Buy One Get One Promotion, do not set up other promotions for the SKUs in the BOGOs.
Another thing you want to be mindful of is that if you have Amazon Pay on your website, do not set additional discounts on it because your website discount will likely be combined with your Amazon discount.
Do not cut your advertising or try to minimize your expenses if it is double dipping.
People love free products, so you likely experienced a significant surge in traffic when double dipping occurred. It's crucial to capitalize on this influx of traffic. Your Best Seller Rank (BSR) has improved, as has your sell-through rate. This presents a chance to enhance your sales further and maintain a steady stream of visitors. Ceasing advertising during this period would only result in your account reverting to stagnation. Instead, view this as a unique opportunity to expand your brand and raise awareness.
Inventory Forecasting
Now that your aged inventory looks better, analyze your catalog. Identify the ASINs that weren’t selling and consider discontinuing them. Do proper forecasting on ASINs that were low sellers and good sellers. You don’t want to understock but also overstock. This is a good opportunity to start fresh.
Proper Promotion Strategy
Double dipping can occur, but it is crucial to prevent it. Create a Promotion Calendar and ensure multiple promotions for the same SKUs are not provided simultaneously. Following the double dipping phase, take a hiatus from promotions and only schedule additional promotions around major events.
Double dipping should always be prevented, but if you go through such an experience, take your lessons, react on time, and focus on the long-term benefits.
If you’ve been dealing with aged inventory and have hit a roadblock, contact our team of experts for recommendations and help. We’ve got you covered.
If you have additional questions or want us to help you on your Amazon journey, don’t hesitate to contact the BellaVix Team.
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