For those selling giftable products online, Q4 is exciting. The quantity, frequency and value of orders almost inevitably increases. It's generally a good time to have products in stock, because you'll always remember the first one you weren't prepared for. It's not just about that final quarter of the year though.
Once Q1 comes around, especially your first as an online arbitrage seller, you may assume that all of the days days are behind you, and you have to wait for months for anything good to happen again, but it’s just not true. So long as you stock things that people want to buy, you’re not going to have a problem keeping that momentum going. What’s more, there are a lot more sales online rushes in the year than you may assume.
Salaried workers in the UK usually have 12 paydays per year. 12. These are 12 unique opportunities for you to make above average sales, if you're adequately prepared for them. The ‘big shop' isn't just reserved to groceries; people can blow their paycheque on something they've been itching to buy at the end of the month.
Generally, people will be paid on a certain date each month or final Friday. Either way, it means you can expect more traffic, sales and orders, if your storefront has what they want.
To maximise your income for paydays, there are two very simple things I like to do:
- Have more stock available
- Increase my prices
On Amazon, you know exactly what that means you need to do.
- Send in more stock
- Increase your prices
People have more money at the end of the month. As obvious as this may seem, many new online sellers overlook this fundamental thing. When you know some of your stock will do better in Q4, it makes sense to hold it back and send it in at the end of Q3. If you know your product only tends to sell once a month, and there's a little competition on the listing, it makes sense to wait until the time's right to get it on the marketplace.
When you’re new at online arbitrage and you don’t send many boxes in to Amazon each month, it’s something you really have to keep in mind, so you squeeze as much profit out of your products as possible, and so that it hits your inventory at times you need it.
You may have saved up to buy stock until your latest Amazon disbursements came through. Your end of month customers probably did the same, before they pulled the trigger on the purchase. You've got 12 paydays to take advantage of, so make sure you are too.