(Updated Chinese Holiday Calendar Download)
You did it: You made it through another Q4 holiday season. Hopefully, profits were high, costs were low, and your post-holiday returns haven’t made you want to tear out your hair. After all the long hours of planning, stressing, and running on fumes (or coffee!), now’s the best time to kick back and relax, right? WRONG! Now is EXACTLY when you should be getting your Amazon store ready for Christmas 2019!
Plan for Chinese Holidays All Year
You may think the major holiday season is over, and that’s true for the US. China, however, is a whole different story. In the US, holidays typically cause one day of business stoppage, then it’s right back to work. In China, however, holidays and festivals can cause weeks of business stoppage when workers travel long distances (often several days’ worth) to return home for family celebrations. Chinese New Year runs from February 4 to 19 this year. That’s FIFTEEN DAYS you can expect Chinese operations to be virtually stopped, with massive production backlogs and delays once the factories reopen.
If you are low on product following the 2018 holiday season, that means you need to get your inventory ordered NOW. There’s no better way to hurt your Private Label business that by running out of stock, thus driving your customers right to the competition. Plan ahead, anticipate delays, and buy early. Staying on top of your inventory year-round will help keep you from scrambling to play catch-up when the next Chinese holiday rolls around.
Understanding FBA Dates
For those of you selling FBA, Amazon has eliminated long-term storage fees (LTSF) for items stored in fulfillment centers from 181 to 365 days. For items over 365 days, your products are still subject to the greater of a cubic-foot long term storage fee or a per-unit long-term storage fee on the 15th of each month, starting February 15th, 2019. Rather than find yourself charged yet again for stagnant stock, why not put your products on sale, or use an Amazon Sponsored Products PPC campaign to boost sales? Getting old stock off Amazon’s warehouse shelves leaves you more LTSF-free space to plan what you’re going to use for your 2019 Christmas products.
Don’t Forget Amazon Prime Day!
We’ve all heard of Christmas in July, and Amazon has its own special equivalent: Prime Day. Since 2015, Amazon customers have been able to score some amazing deals at this annual shopping event. As a seller, this means you have to put in your due diligence to ready your store for this extra traffic during the doldrums of summer. Make a good assessment of your inventory, stock up on your biggest sellers, offer your absolute best prices, and leverage your social media platforms to promote your store.
If you remain consistent with your efforts to operate a great store year-round, selling during Christmas time will be much easier and more profitable. If you need help becoming the best you can be, reach out to us. We have the know-how to help you achieve success.