Hey, it’s that time of the year again: Holiday Season ! The fourth quarter is the most exciting and profitable time of the year for many Amazon sellers. Sellers are looking to optimise their Amazon stores for important events such as Black Friday, Cyber Monday, and the holiday season.
Is your marketing ready ?
Amazon marketplace gets highly competitive during high-volume sales events like this, and there is literally a battle for keywords. With Pay-per-clic ads and other promotions, you need to drive customers to your products with more budget than the rest of the year.
How to qualify for Lightning Deals ?
Products must meet each of the following requirements to be eligible for inclusion as a Lightning Deal:
- A sales history that includes a product review rating of at least 3 stars.
- Coverage of multiple product variations, when applicable. For example, if a Lightning Deal is being created for a type of shirt that comes in multiple colors, you should have at least 65% of the potential variations in stock.
- Your product must be Amazon Prime eligible in all regions
- All products must be in “New” condition.
- A Lightning Deal cannot run on the same ASIN more than once in a seven-day period.
How to prepare for lightning deals ?
- Get your stock ready: you must have at least the minimum deal quantity in stock for the Lightning Deal to run, so be sure to stock enough to cover your regular sales while still maintaining the minimum number of units required for your deal.
- Choose your product carefully. Lightning Deals are Expensive, so you need to add this cost to the decreased ROI that you will receive on your sales since the product is being sold at a discounted price,
- Make sure that you will be able to meet the quantity and pricing requirements and that doing so will make sense within your sales strategies.
Good to know:
- Lightning Deals are limited to one per customer. When a customer adds a Lightning Deal to their cart, they have 15 minutes to process the transaction or they miss out on the deal.
- You have to reduce price by 15% (at least). You must also undercut the lowest selling price of the previous month by 5%.
- During Prime day you have to reduce price by 20% (at least). You must also undercut the lowest selling price of the past month by 10%.
- Like all promotions, running Lightning Deals as an Amazon seller has its pros and cons. You need to be ready to see your ROI decrease and therefore, this period of the year could be perfect to get rid of overstock or other obsolete products.