Amazon is a red ocean, filled with a ton of competitors trying to get ahead of you. It is highly necessary to come up with a red ocean strategy to survive in such a competitive marketplace, and earn profits along the way. One way to go about it is by winning the Buy Box on Amazon. Amazon Buy Box brings in about 82% of the sales and if your product doesn’t own a Buy Box, it gets pretty challenging for customers to find and make a purchase.
Here are a few factors that will help you understand what is Amazon Buy Box and what you must keep in mind to win the Buy Box and get maximum sales on Amazon:
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Amazon favors FBA sellers. Amazon scores each seller according to their delivery rate, order fulfillment rate, shipping type, and inventory situation. Such factors make it difficult for other sellers to compete with FBA sellers and win. Since Amazon itself fulfills all the orders of FBA sellers, the order is always delivered on time, and in perfect condition to the customers.
However, Amazon introduced SFP (Seller-Fulfilled Prime), allowing other sellers to sell their products to Amazon Prime members without storing them in Amazon’s warehouses. This means you can offer your products on Amazon Prime while saving on the costs of shipping.
If you want to open a Seller-Fulfilled Prime account, then you must have a successful selling history and satisfactory performance metrics. Save yourself from this effort! switch to FBA. This way, Amazon will store your orders, keep a check of your inventory, send your orders to the customers on time, and help you win the Buy Box.
Most of the sellers think that if they set the lowest product prices, they will win the Amazon Buy Box. However, it is only one of the factors that can get you closer to the Buy Box. Moreover, if you work on your performance metrics and become a reputable seller, then you can raise your product prices and still have a high chance of winning the Buy Box.
If you want to compete with other sellers in terms of price, then make sure to get help from seller tools like an Amazon repricer. You can’t keep an eye on your competitors 24/7, and manual repricing is honestly kind of slow. It won’t give you the results you require in a short period. Instead, sign up with a repricer that can keep your product prices competitive 24/7, without compromising on your profit margin.
If you run out of stock while selling on Amazon, it decreases your chances of winning the Buy Box and it goes to another seller. This is why it is essential to keep monitoring your inventory and order it on time so that you always have your products in stock.
However, if you currently don’t have an item, you can always choose to list it as “back-ordered”. This gives customers a clear idea that the item is not available at the moment, and it is going to take time for the seller to deliver it.
Amazon factors in your shipping time as well before assigning the Buy Box to you. If you want to get an edge on that, offer fast shipping to your customers. It becomes even more important if you are offering perishable products, toys, or cards for birthdays. Shipping time is mentioned on the product detail page where customers can see the time it is going to take for the order to arrive. Make sure to partner with shipping companies that can get your product delivered on time, and without damaging it.
Neither Amazon, nor the customers will be happy if they receive a product from the seller that is damaged, broken, or of poor quality. As a result, the customers will leave negative feedback which will push you down in the race of winning the Buy Box.
As per the rules of Amazon, the Order Defect Rate (ODR) should be less than 1%, or else you will have to face a penalty.
There are a number of factors that can get you closer to winning a share of the Buy Box and getting maximum sales on Amazon. However, the five points mentioned above are the most important when it comes to getting your hands on the Buy Box on Amazon. Make sure to work on these factors to win the race.
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