To become a successful seller on Amazon, it is necessary to implement all the right strategies to earn maximum profits and win the Buy Box. That is why sellers sign up with all kinds of Amazon seller tools, including an Amazon reprice to get more chances to win the Buy Box.
Most sellers would want to win the Buy Box in 2022, mainly because the holders of the Buy Box get 90% of the sales on Amazon. However, if you don’t have the right understanding of how to increase your chances of winning the Buy Box, this aim may be impossible for some of the Amazon sellers.
To help you with it, here are a few areas you need to focus on in order to get your hands on the Amazon Buy Box this year!
Price of your product
The product price is, without a doubt, one of the most important elements considered by the Amazon algorithm when determining the Buy Box winner. Because Amazon wants to be seen as a pocket-friendly, customer-focused marketplace, it places a premium on the product price.
According to the top Amazon sellers, it is crucial to keep a close eye on all the price changes happening on the Amazon marketplace so that you can alter your price accordingly and stay competitive. It would be a smart move to utilize an Amazon repricing software that automatically changes your product prices and helps you stay up-to-date. The chances of winning the Buy Box would automatically increase once your product prices are the most competitive in the marketplace.
Method of Fulfillment
If you really want to stand out amongst other Amazon sellers, it is high time you start thinking about the right way to ship your items to the customers. Even when you can still compete for the Amazon Buy Box if you fulfill orders on your own, Amazon’s algorithm strongly prefers FBA sellers. It isn’t officially required by Amazon to sell through FBA, but it’s a bonus point that leads up to victory.
Amazon considers FBA while assigning the Buy Box because it is a program that facilitates speedy order fulfillment, which is one of the most important factors in winning the Buy Box on Amazon. Fulfilling orders on time leads to increased satisfaction of the customers, and that’s what Amazon likes.
Feedback from the customers
Do you know why Amazon got so popular in such a short amount of time? Mainly because they are obsessed with their customers. The founder of Amazon highly invests in improving customer experience, and that is why customer feedback is considered a key factor in determining who gets the Buy Box.
It is essential to maintain a high feedback rating score on Amazon, and build a strong relationship with your customers. Amazon is going to notice the customer preference and their likes before assigning the Buy Box to the sellers.
You are only going to get positive feedback from your customers. If you succeed in providing the best customer service on Amazon. Whether it’s about assisting them before their purchase, or providing them after-sales support, it all helps in boosting your chance of receiving good feedback, which eventually leads to winning the Amazon Buy Box since it improves your feedback score.
The health of your Amazon account
Ensure that your Amazon account is in good shape: Amazon indicators like Order Defect rate, Order Cancellation Rate, Valid Tracking Rate, Late Shipment Rate, and Refund Rate aren’t well-known by most sellers. Yet they play a significant role in deciding the Buy Box winner. These figures are crucial to Amazon since they show how well you are doing as a third-party seller on Amazon. Make sure all of these rates are below 1% to increase your chances of winning the Amazon Buy_Box.
If you don’t have enough inventory, there is no point in competing for the Buy Box. Because other sellers would already have a plus point. While you figure out a way to get your inventory back in-store. They’ll already be one step ahead of you and probably win the Buy Box.
Inventory management is essential in the retail business. Especially on Amazon where sellers must ensure that they never go out of stock. Make sure to update your Amazon inventory on a regular basis. In order to enhance the win rate to win the Buy Box. Sellers must plan on restocking products that sell quickly. Sign up with an inventory management tool that might help in managing your Amazon inventory in a better way.
Reputation as a seller
Amazon won’t consider assigning the Buy Box to you if you don’t have a strong reputation as a seller. It is best to work on maintaining your image as a seller. In order to be chosen by Amazon for the Buy Box. You’ll need to ask customers for reviews regarding your products. Customer service to help in maintaining a positive reputation as an Amazon seller.
It is crucial to have the ability to change your existing strategy. According to the Amazon industry changes if you really want to win the Buy Box. Make sure to follow all the points mentioned above. And keep on improving your performance to get the Buy Box and increase your sales!