Like most of the businesses, Amazon online arbitrage is also a huge world that is highly competitive, and volatile. For those who are involved in Amazon online arbitrage, for business, the ability to find the best products to sell on Amazon, making smart decisions, etc. plays a major role. One of the biggest challenges that lies in Amazon ecommerce is attracting the customers, or the focus group, to buy your OA deals. With millions of products and thousands of sellers in the field, standing out from the crowd is crucial.
In this blog, we will explore Amazon online arbitrage, and how the sellers can attract the customers to get maximum sales. We will together break down the essentials from grass root level to make the strategies that give you the competitive edge in Amazon market.
What is Amazon online retail arbitrage?
Amazon online arbitrage is a mode of e commerce that involves purchasing the products from online or offline retailers for a less cost, for selling them on Amazon for making a good profit out of it. the sellers, those who can leverage on the price differences tactically, could yield a good reap from the world on Online retail arbitrage.
Strategies to attract customers in arbitrage ecommerce
Optimize the listing visibility
Optimizing the listing of your OA deals on Amazon for maximum visibility will give you a good opportunity to show case your products, as a well optimized listing would come forward while searching the products on Amazon. this can be efficiently done through,
Keyword optimization: Add the most relevant keywords to your product descriptions. This will improve the visibility of your listings on the search engine.
Optimized titles: The product title should be optimized with the most relevant keyword for your product. This will help attract the customers and will also enhance the search engine's performance.
compelling bullet points: give bullet points descriptions to the products. This will help improve the readability of descriptions, and the rate of conversions will also increase.
Make engaging descriptions: the listing page is where you sell the products on Amazon online arbitrage, making engaging descriptions will help you improve the conversion rate by attracting more customers.
High quality visuals: use high-quality images and videos from every angle of the product, this will give the customers a very good view of your OA leads, improving the chances of conversion.
Price competitively
Pricing is one of the major elements that influence the attention of customers, if your pricing is competitive, this might help you grab the customer attention on Amazon online arbitrage.
Use repricing tools: using automatic repricing tools will improve your pricing strategy by making the price of your OA deals competitive.
Analyze competitor price: Keeping an eye on the pricing of your competitor's pricing would help you price your products in a better and competitive way, without loss.
Consider profit margins: Setting up a minimum profit margin in between 30%-40% would be enough to prevent a huge loss, and cover the expenses for the product sourcing and listing etc.
Leverage on Amazon advertising
When you are playing a competitive game on online retail arbitrage, simply listing the products will not be enough to generate the expected traffic, so rely on Amazon advertising to attract more customers.
Sponsored products: these ads give you prime visibility, as while searching, your products will appear at the top of the search.
Amazon DSP: Amazon demand side platform can be used to increase the product reach on Amazon and out of it. These ads are specifically targeted for the type of customers who have searched for your products and not purchased them.
Encourage customer reviews and ratings
Positive reviews and high ratings are essential for improving your arbitrage ecommerce. It helps you build trust and credibility among customers.
Request feedback: once you make a conversion, after a few days, request the customers for feedback. This will help customers make a feeling that you care and will also help them feel they are valued.
Respond to reviews: Take time and respond to both positive and negative reviews. Positive reviews can increase your credibility, whereas negative reviews can be used to improve your product, as you can learn from that.
Build and maintain a strong seller reputation
Building a strong seller reputation mainly building a good trust in customers, this could bring good changes in your Amazon ecommerce,
Maintain high feedback rating: aim for at least 4.5 seller rating. For achieving this, you might need to offer the best products, provide good customer experience, etc.
Use Amazon FBA: using Amazon FBA (fulfillment by Amazon) will get you eligibility for prime shipping, in Amazon FBA Amazon will handle all the process from packing to delivery of the products. This will enhance the trust of your arbitrage ecommerce. Amazon FBA could also handle the returns efficiently.
Deliver excellent customer service: Providing good customer service will always help you gain a good seller reputation. Handling customer enquiries efficiently will help you gain a positive outlook among customers.
Offer promotions and discounts
Lightning deals: These are a type of sensitive promotion activities that help make a sense of urgency to buy products among the customers. This will also provide additional visibility to your product.
Coupons: Amazon allows the sellers to give additional coupons to the customers. This will help them keep engaged and attracted to your OA Deals.
Conclusion
In the highly competitive world like Online retail arbitrage, attracting customers for your OA deals is not an easy process. But with taking care of different factors such as the proper optimization of listings, leveraging on advertising, Amazon FBA, offering high quality products, empowering reviews, making a good reputation, etc. Will minimize the risk in attracting customers, as earlier discussed, attracting the customers is an art in Amazon online arbitrage, those who can do it good can make the beat deals in Amazon FBA online arbitrage, and can certainly make a permanent and sustainable business on Amazon.