Just reducing the price won’t cut it. There are many factors to consider. Learn how data can help you connect the dots.
One of the reasons Amazon stays on top of the E-Commerce food chain is the leadership’s undivided attention to the needs of the customer. Owing to this fact, sellers are encouraged to bring their A-game to the platform.
Consequential to any seller’s efforts on Amazon is winning the Buy Box.
The Buy Box is a small white box on the right-hand side of a typical Amazon product details page, where the option of ‘add to cart’ helps the seller leave the rest of the competition well away from the customer’s eyes.
Stats show that up to 90% of the purchases on Amazon happen through the Buy Box. This share could be even higher with mobile users since the mobile UI has no space for ‘other sellers on Amazon’.
Taking a data-driven approach on Amazon helps you stand out from your counterparts and win the buy box. At Grepsr, this offering has consistently ranked first in priority with our partners.
How to win the Buy Box
There are a host of ways to win the Buy Box on Amazon. Contrary to the widely held belief, it’s not just the pricing that influences the outcome. Let’s get into each one of them:
Inventory size
Amazon’s algorithm needs assurance that you’ll not dry up on stocks after the customer purchases an item. Maintaining a steady inventory flow will go a long way in helping you win the Buy Box. Grepsr’s intuitive data extraction platform can assist you in monitoring your inventory.
FBA (Fulfillment By Amazon)
When you opt for FBA, Amazon will take care of your packaging, shipping, and returns. While there are other ways of running your logistics operation, choosing FBA will put you on a more reliable path toward winning the Buy Box.
Dependable Shipping
If you fail on your promise of on-time shipping, Amazon takes notice of that. If it happens consistently, your chances of winning the Buy Box drop considerably. To up your chances, you will need to maintain strict shipping schedules.
Amazon’s seller ratings
This is where customer feedback secures a prominent role. To improve your chances of winning the Buy Box, ensure the defect rate is well under 1%. Grepsr executes thousands of crawlers every day to track customer feedback in real-time. It can help you measure customer sentiment and take prompt action.
Product pricing
When all your metrics are up to the mark, you can win the Buy Box and still sell at a higher price. If you lag in many of those metrics, you will be forced to sell your products at a lower price.
Nonetheless, you need to monitor your competitor’s pricing to formulate your own strategy and catch MAP violators as well as unauthorized sellers.
We at Grepsr have a particular set of skills that helps you gather product pricing data from Amazon at scale. Not to mention, in a format that suits you best.
You can maximize your chances of winning the Buy Box by using Repricer, which is a tool that optimizes your product’s prices while considering all the factors that impact the Buy Box win.
Buy Box Monitoring
Last but not the least, winning the Buy Box also includes monitoring your Buy Boxes and that of your competitors. When you lose a Buy Box, you can peddle a new product and go through all the optimizations mentioned in the previous sections.
Monitoring your competitor’s Buy Box will allow you to see what they are doing right and the steps you need to take to beat them.
Winning the Buy Box with Data
By now, you already have a full picture of what it takes to win the Buy Box on Amazon. It’s not limited to prices.
Neither is it restricted to the Buy Box Monitoring of your products or that of your competitors. What you need is an end-to-end Amazon data solution to come up with a truly full-proof strategy.
It entails a comprehensive list of data points that you can leverage to leave your competition in the dust. That’s where we come in.
From extracting data as per your requirements to discerning adventurous routes into Amazon data acquisition, Grepsr has for years helped enterprises from diverse fields make the best out of Amazon.
In this use case, we’ve extracted several data points (among many others) from the Beauty & Personal Care products segment that we know will help the client win the Buy Box.
Major fields extracted:
Country name, retailer name, Asin number, Amazon's choice flag, Amazon canonical URL, availability, bestseller flag, brand name, brand URL, Buy Box owner, Buy Box price, Buy Box lost, bestseller rank
In conclusion
Amazon’s algorithm has proven to be a nightmare for some, a boon for others. The E-Commerce giant’s rise has led to the disintermediation of many businesses.
At Grepsr, however, we implore you to look at this change and stiff competition as a big opportunity to drive sales.
With the right datasets delivered at precisely the right time, you can make quick optimizations and eventually, win the Buy Box!
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