Sellers will do anything to increase sales; in fact, joining the biggest online retailer Amazon is the first step. Next, sellers would want to know which products have high demand in the store. One quick way to know the saleability of a product in Amazon is to check other sellers’ stocks and see how much is the overall supply. The 999 trick of checking competitors’ quantities available has been made way faster and easier by an Amazon quantity checker such as Amzpecty. When product demand is higher than supply, then a seller must carry more quantities to boost sales and sell out more.
Recognize fastest and best-selling items.
Looking at the daily quantities sold of each product listing using a quantity tracker tool will give Amazon sellers the idea which products are selling fast. The snapshot graph would show daily changes in overall stock quantity and how often it is replenished. The more sold and replenished quantities are, the higher is the overall demand. This means that the item can be priced higher than it normally would and still has a greater chance to sell out soon. Cha-ching!
A seller reaps a profit when the product cost is lower than its price. When selling online though, product cost changes along with price since selling fees are usually computed as a percentage of total product offer price (net of shipping fee). With the help of a quantity tracker such as Amzpecty, a seller will be able to maximize its profits by selling more at a higher price. This is because a seller can track the product listing’s inventory level in Amazon and can spot an impending stockout. The remaining seller can then raise the product price as more shoppers request for it. Hence, a seller can benefit most of premium pricing when a product becomes rare to find or other sellers ran out of stock.
Know your competitors’ strengths and weaknesses.
With the use of a quantity and price checker extension, a seller becomes aware of not only the name and number of competitors present, but also their pricing strategies and restocking patterns. The seller can better position its product when information about the quantity and price of other sellers is available. Say for instance, a seller can price its product higher than the competitor’s if the latter carries a lower inventory quantity which is expected to sell out soon based on the sales trend.
Avoid opportunity loss.
Likewise, who would not want to know how many others are selling? One main reason to check your product listing total offer quantity is to know how much supply is currently available in the store vis–à–vis the demand. To incur opportunity loss when the product sells out and the price skyrockets is the last thing a seller could ever imagine. Track your competition’s stocks and reorder before stockout happens.
Win the Buy Box!
For Amazon sellers, winning the Buy Box is like a guarantee to make sales since more than 80% of Amazon purchases are made through the Buy Box, the area to the right of the product page that contains the “Add to Cart” call to action. Though Amazon applies a complex algorithm to determine which seller gets the prime location on the page, it is almost always that Amazon-owned and FBA listings get the priority treatment. However, non-FBA merchants can still land in the Buy Box using other strategies. Some of these techniques include maintaining a high customer approval rating of 97–100%, lowest pricing, and taking advantage of stockouts. With the use of a quantity checker and a repricer tool, a seller will be able to position its product either as the lowest-priced among all sellers (cheaper than the Buy Box price) or the second lowest-priced (if the Buy Box has the cheapest price) when a stockout is about to happen.
Reposition slow-moving inventories.
Through a quantity checker, a seller would know whether the product is selling or not. By tracking the movement of quantities of all sellers for a particular listing, a seller can recognize particularly slow-moving products. The seller then has the option to transfer the product to another similar listing with less sellers or in cases where Amazon has already been flooded with inventories of a particular product, the seller can also move the inventory to another sales channel (e.g. Ebay, Shopify, etc.).
Perceive the trend.
A quantity checker and tracker is very useful in giving the seller a sense of what is going on with a particular listing. The fluctuations in quantities and prices can be tracked daily up to 60 days using Amzpecty and understanding the sales trend will give the seller a clue when to restock and adjust prices. The seller must be able to anticipate demand and see the trend to seize the sales opportunity ahead of others.
Join the Other Sellers box.
If you cannot beat who is in the Buy Box, then at least be part of the top 3 alternative choices featured in the product front page. Wise customers will explore other options before buying directly from the Buy Box. These price-conscious shoppers may not have the time to look into all the other sellers available but will most likely check the Other Sellers box. To do this, a seller must look at all other sellers’ prices and quantities. Amzpecty can show a seller its position relative to all other sellers in terms of price and how much the other sellers are carrying. Then, a seller can position its product as either the second or third lowest priced among all sellers, one or two step higher than the Buy Box price if the latter is the cheapest. This option is particularly brilliant if the Buy Box seller almost runs out of stock, then the next seller can take over in no time! Remember, not being in the Buy Box does not mean you will lose all chances of making sales.
Gain competitive advantage!
Because of the overwhelming benefits of an Amazon quantity checker, a seller can gain a competitive advantage against other sellers. Undeniably, this powerful little tool can help sellers manage their product listings the fastest and the most convenient way. For more information about using a quantity checker and tracker, visit Amzpecty’s home page for a free trial.