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Amazon has become a household name in online retail in the past few decades. By 2018, it has represented 49% of the US e-commerce market with no limit in sight. This is why every retail business owner is racking their brain looking for a way to start selling on Amazon.
What do you do when you sign up as a seller? Amazon consulting experts will advise you to do two things: keep your account healthy and win the buy box. It seems 83% of all sales on Amazon go through the buy box. Now, that statistic is nothing to be sneered at. In fact, it summarizes the best way for sellers to boost their sales ahead of their competition.
When buyers go to an Amazon product listing, they’ll automatically see a page full of information.
It’s a widget on the far right of most listings that gives shoppers the convenience of quickly purchasing the products by using the Add to Cart button. It offers customers a way to look at the product, decide, and purchase in two or three clicks.
A lot of people don’t know that this widget is totally separate from the listing itself and that sellers compete with each other for its ownership.
There are a few reasons why sellers put so much importance on winning the buy box.
Any seller that chooses Fulfillment by Amazon (FBA) for their products is instantly eligible for the buy box. In fact, FBA sellers have been found to win a share of the buy box at a much higher rate.
Don’t despair, though. If you’re not an FBA seller, it’s still possible to be eligible for the buy box. The main criteria are:
Opting for a professional selling plan will cost you $39.99 a month, which is not a problem if you intend to use Amazon as one of your major selling platforms. This is an essential requirement to be eligible for a share of the buy box.
Customer satisfaction is the number one priority. Having a high sales volume is essential to winning the buy box. This metric tells buyers two things, according to Amazon consulting experts. First, you have the inventory to satisfy large orders. Second, a lot of buyers have trusted you in the past. However, sales volume will be useful if your seller account’s health can be maintained.
As mentioned, selling a lot of products is useless if your account isn’t in good health. Your status as a seller mainly depends on three things:
Amazon is pretty quiet about how sellers can win a share of the buy box. However, any Amazon marketing agency can tell you that it involves doing several things.
It’s very rare for a seller who sells “used” products to win the buy box. Therefore, it’s important to sell new products for you to get a better chance.
It is possible for non-Prime sellers to win the buy box. However, Amazon prioritizes sellers who can serve their 112 million Prime members.
Lower prices translate to happier customers, according to Amazon. That’s why you should be within 5% of the buy box price to get even a whiff of winning a share. The buy box price is usually the lowest possible price for a product. The set-a-price-and-forget-about-it method won’t work here. Keep adjusting your price to remain competitive.
Amazon needs to make sure you have the inventory to satisfy its customers’ demands. If you’re low on stock, it could hurt your chances of winning the buy box.
When everyone’s on the same level, good customer feedback usually decides the winner. Keep Amazon’s customers happy, and you’re well on your way to owning the buy box. You have to answer queries within 24 hours, maintain product quality, deliver on time, and address complaints promptly, as any Amazon agency will tell you.
Winning the buy box is a sure sign of being successful on Amazon. Follow these simple tips, and you’ll get more sales through your buy box strategy.
If you need some advice from our Amazon consulting experts about your sales strategy, contact us at [email protected] or [email protected]
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