In some areas of life, you want to find what works and stick with it. But when it comes to selling on Amazon, learning and evolving over time is crucial to finding long-term success. The start of a new year is a great opportunity to take stock of how you’ve performed on the platform over the past year and strengthen your strategy to find even greater success moving forward.
In this article, we’ll share five tips that will teach you how to sell on Amazon successfully in 2023.
1) Review Your Analytics
To craft a better selling strategy for the future, start by looking at the past. Review all the sales data and analytics you have from Amazon, as well as any provided by third-party tools that you use.
Pay attention to which of your products sell well and which items underperform. Weigh the profit margins of each product against the cost of storage and shipping. Take note of any seasonal trends in how products sell. If you ran any ads or promotions, calculate their return on investment (ROI).
Analytics can provide a lot of valuable insights into the current state of your business that you can use to improve your strategy for the coming year.
2) Analyze Your Returns Data
Sales data is important, but don’t forget to also look at your return rate. Earning a sale is worth a lot less if it turns into a return afterward. And sometimes returns reveal an issue with the product that you need to address to avoid hurting your reviews and overall seller reputation.