How To Capitalize On Seasonal Markets
"It's the most wonderful time of the year."
When we hear that phrase, we each think of a different time of during the year Some think about their favorite season where you get to do your favorite activity, like going to the beach or apple picking. Some of you might have even been humming a Christmas melody as you read the phrase. Some of you might even have been thinking about early September when their kids are heading back to school for another year.
The point is, when you are an Amazon seller, every season can be "the most wonderful time of the year." It all depends on how you prepare for it.
Next time you are talking with your supplier about inventory, have a moment, and think, "What do people need or want this time of year?" It's a simple question that I am not sure gets asked all the time.
If you are in mid May, start thinking about summer activities. What do people use at their pools? What item is useful/necessary when going to the beach?? Early August? Maybe think about back to school supplies, or fall/winter jackets. The biggest one: The holidays are swiftly approaching. The toys category is going light up like a **insert your specific holiday icon here**.
The common theme here is that you need to get these orders in before the season is upon everyone. While everyone else does a mad dash to get everything done, you can sit comfortably with your inventory in stock, ready to sell. You might even cash in on the go-getters who get all their shopping done early.
The key to accomplishing this boy-scout level commitment to your business (always be prepared), is that whenever you are purchasing based off of a seasonal decision, make sure you factor in enough time to complete all of the shipping that needs to occur before you can actually sell. Most importantly, get in the mind of the customer.
Everything takes time, and its the one commodity we can't make more of. So, we need to use it well to prepare for what we want to accomplish. Find out from your supplier how long it will take to get your items to an FBA, and factor in a couple of days for Amazon to catalog and organize your inventory before it can be sold. There is nothing worse than ordering inventory too late only to miss those heavy selling periods for specific products. Use supply and demand to your benefit, and anticipate the demand so you can be first in line to supply it.
Think about when customers are actually likely to buy your goods. If you are a parent preparing for your child's upcoming school year. They're not going to buy the backpacks, and pencils in early September when the kid has already started school. They'll be looking in August, or heck, even late July. So make sure you are preparing more than the customer is by purchasing your inventory with enough time to ready in an FBA before it's needed.
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