The fourth quarter is right around the corner! So, what are you doing to prepare for it?
Last year was my first Q4 experience as an Amazon Seller and, I must admit, it didn’t disappoint! But I didn’t really know what to expect or how to prepare for it. I had over $23,000 in product sales in just 3 short months, which is great, but I know that if I’m better prepared this year, I can easily beat that number!
Therefore, in this blog post I will share how I plan to prepare for Q4 in 2022.
I’ve heard other sellers mention that back-to-school season is like a bonus Q4, and I’d have to agree with them because my sales have been really good so far this month! The increase in sales have motivated me to start prepping for Q4, hence this blog post.
Listed below are things that I am currently doing, or plan to do, to prepare for a successful Q4!
- Get ungated
- In early summer, I decided to get ungated in some additional toy brands, to include Barbie, Star Wars, Fischer-Price, and Marvel. I did this with Q4 in mind, as toys sell really well during this time of year. Getting ungated increases your opportunity to make sales, which leads to more profit! If you need help getting ungated in toys, I highly recommend you check out Nikki Kirk’s ungating guide here.
- Clear out excess inventory
- Amazon will typically increase storage fees during Q4 because it’s such a busy time of year! Sellers are shipping more products to the warehouse; therefore, they increase storage fees to avoid excess inventory and running out of space. I have started the process of clearing out my excess inventory and, I’ll be honest with you, it’s been a bit painful! It’s no fun taking a loss on an item, but the reality is that it’s not doing anything for you if it’s been sitting for 90+ days. I have been pricing certain items to move so that I can hopefully recoup some of my cost and improve my cash flow leading up to Q4. You can also have the items returned to you or have Amazon dispose or liquidate them. Ultimately, you have to do what’s best for you and your business, but don’t get too caught up in this. Take the hit, learn from it, and move on!
- Join Hazmat program
- Amazon classifies certain products as dangerous goods or Hazmat. All sellers can ship these types of products via FBM, but only those who are part of the Dangerous Goods program on Amazon can ship them via FBA. Becoming a member of the Hazmat program will open up more opportunities on product that you can sell on Amazon, which is why I’m hoping to get approval before Q4; however, there is currently a waitlist to join the program.
- Learn something new
- Knowledge is power. Therefore, I believe that now is the prime time to master a new skill that can help you succeed in Q4! You could learn a new software, sourcing strategy, etc. For me, I am focusing on learning Tactical Arbitrage in hopes that it will increase my flow of inventory to Amazon.
- Invest in your business through subscriptions, groups, etc.
- I also recommend that you invest in your business as much as you possibly can now, so you can reap all the benefits come Q4! This is the perfect time to sign up for new subscriptions, renew old ones, or join an Amazon Selling group. So, if you’ve ever considered joining the BOLO group, now is the time to do it as the leads get crazy during Q4. Click here to join the BOLO group today!
- Get comfortable with FBM
- If you’re looking to get the most out of Q4, then I hope you’re ready to FBM! If you already know how to FBM, then you’re in a great spot. If you don’t, then I highly recommend that you start FBM now so that you can get comfortable with it before the busiest time of year. Last Q4, I shipped a total of 250 FBM orders in a matter of 48-72 hours! So, if you’re hoping to make some quick flips and increase your profits during Q4, then don’t sleep on FBM.
- Stock up on supplies
- Trust me, the last thing you want to do is run out of supplies during Q4! So, start going through your supplies now and get organized. Then, stock up on the essentials like tape, boxes, and polybags. Having too much is better than not having enough!
- Do product research
- Last but not least, do product research. While this is probably important to be doing all year long, I believe that it is especially important leading up to Q4. What TV shows are most popular right now? Are there any new movies coming out? What are the hot toy brands and/or items? The only way to figure these things out is by doing research and getting out there to scan items! I plan to focus heavily on the toy aisles over the next couple of weeks and months to identify popular trends early on.
From clearing out excess inventory to performing product research, these are just few ways that we, as Amazon Sellers, can prepare for Q4. I hope you found this blog post helpful and that it motivated you to prepare for Q4!
How do you plan to prepare for Q4?
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