Amazon FBA: Things not to do in Q4
There are lots of articles and resources covering what to do during Q4, but today I want to do something different – dwell on things NOT to do during Q4 on Amazon, things that will hurt your sales, things that you should stay away from and avoid doing during Amazon seller’s best selling opportunity. Q4 is all about the increased sales, and I want to help you increase your sales!
Things NOT to do during Amazon Q4 as a seller:
1. Constantly check your pending sales
Ok, just don’t do that! Surely it’s fun every once in while to check your sales for the day, see where you are, but on most cases we are just wasting our time checking our pending sales. Probably it’s some kind of a dopamine hit in our brain, when we see all these new sales coming, 3 or 4 pages of pending sales, but really we are wasting our time looking at sales all throughout the day. There are many more profitable things for you to be doing than checking your sales. I usually check my pending orders once a day.
2. Implement new strategies
…or try selling in a brand new category! You’ve had nine months to try things that are new, try new categories, and Q4 is not a time to learn or try things out. It’s the time to utilize what you already know and put it into action. If you spend time learning a new strategy you will be missing out on other opportunities to maximize your profit and maximize your sales. Just don’t try new things in Q4, make the most of what you know right now.
3. Stop sending inventory to FBA
There are people that fear that if it’s 10 days till Christmas now, then their inventory will not make it in time to FBA warehouse for sales. And they stop sending in inventory. Actually, no! Sales continue after Christmas! There are people who didn’t get what they wanted, there are people who got Amazon giftcards for Christmas, they will want to use that money to buy your items. So do continue feeding the beast, continue shipping products to Amazon FBA.
4. Blindly lower your prices
Most of the times during Q4, in my experience, prices go up. Supply is going down, because people are buying these items at increased rate, and with that usually come an increase in prices. If you are looking at your items and thinking: ‘’Ah, I need to lower my prices a little bit to get those sales’’, you are going to be losing a lot of money. Because if you are just blindly lower your prices, you will miss out on profit. It’s best to be prepared and look at price history for items you sell (use Keepa or CamelCamelCamel). Most of the times, there is history for last year’s Q4, when you can see what it was selling for, what the sales rank was doing, so that you know what to expect this year.
5. Compare yourself to other sellers
There are times when we go on Facebook and see a picture of a guy with 2 carts full of stuff from sourcing, or people posting screenshots of their sales for day, or sales for the week. A lot of times people post that to encourage other people, show them what’s possible. However many of us take a flip side of that and think: ‘’Oh, I’ll never be there, I will never going to be able to do that…’’ But you need to understand that where you are in your Amazon business is completely different from where someone else is. So you shouldn’t expect the same results. So don’t compare yourself with other people. The best person to compare yourself to is who you were yesterday/last month/last year. Compare yourself to who you were in the past, – this will help you in the future. Never compare chapter 3 to chapter 8. We are all in this business in different place, different perspectives, different life circumstances. So don’t compare yourself to other people.
6. Chase all the hot toys
A lot of times people assume, that when toy companies, stores, Amazon itself comes up with the list of what’s hot for toys – that it can be trusted. In fact, they only do this because they want to sell those toys. So, basically, they do it to make sales. And they always makes sure that they have a lot of these items to satisfy the demand they expect. It may happen, that there might be a super hit of a toy, that will sell out and will be very hard to find. But that is really-really rare. But 99% of time, when stores say that something is going to be hot, they will make sure they have more than enough supply. Thus you might invest in something that will not yield you any profit at all.
As a seller, it’s best to focus on accessories that are connected to hot toys. So use that knowledge to your advantage, find things that are connected to hot toys, that are profitable, that people might want to buy.
7. Neglect your family and friends
Of course, in most cases, this is something that we do not do consciously, this is not something that we decide to do, but a lot of time during Q4, with the opportunities for profit, sourcing and sales, we sometimes forget our loved ones. We forget our families, we do not spend time with our kids, with our spouses, with our friends.
But if we spend too much time with our business and neglect our families, this will hurt us in a long run, and no amount of profit or money can repair.