Did you know, winning the Buy Box can increase your chances of becoming an Amazon best-seller?
The Buy Box accounts for 90% of the total sales on the platform, making it crucial for sellers to leverage the Buy Box data.
Amazon is at the helm of the overdrive in the e-commerce industry. Living proof of a benchmark for other e-commerce brands to top.
It is at the forefront of the industry’s growth, and innovation, but also the biggest rival for competitors. It has maintained its sweet spot at the top because of specific features on the website that ascertain consumer trust.
In order to compete with Amazon, other online retailers need to step up their game strategically. This means investing in extensive digital marketing and automating business processes.
Furthermore, it’s crucial for retailers to optimize their websites for mobile use, as more and more consumers are using smartphones for shopping.
The Buy Box
For your own e-tail site, winning the Buy Box feature as a seller on Amazon is crucial. The Buy Box is highly impactful in increasing conversion rates and can give you a significant advantage.
The Buy Box refers to the white box that appears on the right side of a specific product detail page on Amazon. It allows users to add items to their carts with a single click. Also, increases the visibility and sales opportunities of retailers.
It stands out from other product pages with its golden “Buy Now” button right next to “Add to Cart”. The ones who do not have the Buy Box just have the “Set Up Now” option.
This process is long and complicated for a buyer who wants to purchase a simple item.
They can change their mind midway through the checkout process, so taking this route is risky.
Therefore, to save consumers from the hassle, Amazon shows the product of a high-performance seller with the most competitive price at the top of the search result page.
Buy Box Algorithm
SalesCycle reported that the shopping cart abandonment rate was 79.53% on July 11, 2023. There are several reasons for this. One reason is the high extra costs of shipping and taxes.
Another reason is website errors. Additionally, there is a lack of product trust. Lastly, there are bad return policies.
The most prominent one for retailers to take account of is the prolonged and complicated checkout process. It shows that 17% of US online shoppers abandoned their carts because of the issue with the checkout process.
However, on the bright side, a study from the Baymard Institute has documented that the average large-scale e-commerce site can gain a 35.26% increase in conversion rate with a better and simpler checkout design.
As an Amazon seller, your main focus should be on optimizing the checkout process and improving the user’s buying experience. This will help you in obtaining the Buy Box.
Several factors influence the Buy Box’s data-fueled algorithm.
Two kinds of sellers on Amazon include Amazon itself and third-party sellers.
On Amazon, there are two prices: the base price you list for an item and the landed price, which includes shipping costs. As a merchant, it’s important to take both into consideration and display the item’s landed price.
Although price is important for winning the Buy Box, having a lower price doesn’t guarantee you the privilege.
You can still be a best seller with a Buy Box despite having a slightly higher price if all your other metrics are up to par.
Accurate listing of the product, inventory & sales volume, shipping time, response to customers, rating, and feedback are a few of the other metrics.
Fulfillment method (FBA vs. FBM)
A product sold through fulfillment by Amazon takes precedence over fulfillment by merchant. Amazon gives FBA a perfect score for multiple variables including shipping method, on-time delivery, and inventory depth.
You are one step closer to winning the Buy Box by outsourcing order fulfillment to Amazon as it is reliable and will take care of your packaging, shipping, and returns.
Tracking your inventory and sales metrics is equally important.
The Buy Box is primarily there for consumers for a quick purchase of a certain product. Amazon’s algorithm takes notice of whether your inventory is close to being out of stock after a few purchases.
This is a red flag you need to avoid to win the Buy Box.
Hence, it rewards sellers selling a product at a competitive price while having a steady inventory flow with the Buy Box.
Shipping time and reliability
It is generically crucial to be mindful of the time of shipping and delivering items and more so, to be a bestseller.
Amazon is more likely to give the Buy Box to those sellers who are committed to faster shipment and timely delivery of each order.
Likewise, for FBA-eligible products, prime delivery is there exclusively for Amazon Prime members.
This way the whole customer base shopping from Amazon will collectively have a positive experience using the platform.
Customer response time and feedback count
Channeling a constant stream of positive feedback from customers is significant for every seller. Now you must have retained that Amazon greatly values customer experience. So, you should prioritize gaining customer reviews that improve your credibility as a seller.
As the holidays approach, sellers must meet delivery dates to maintain a good reputation and retain loyal customers.
It is essential for sellers to stay on top of their shipping game by building interpersonal relationships. You must communicate and ensure a seamless delivery experience for your customers.
Thus, the linchpin to winning the Buy Box is also based on the number of feedback, customer ratings, and approving sentiments toward the product and the merchant.
Buy Box Monitoring
E-commerce is a highly competitive industry, especially for sellers on Amazon who sell similar or different products.
The Buy Box is rotated in the case of multiple high-ranked sellers selling the same product.
Your efforts must remain consistent in monitoring your as well as your competitor’s Buy boxes. Buy Box Monitoring for a variety of products from different sellers involves observing the changes made in the title, category, pricing, and product description. Also, the availability of items, their expected time of delivery, and customer feedback on purchasing the product.
Thus, by keeping track of these, you can optimize your product listing and stay ahead of the competition.
Buy Box Data for the Win
As you already know, winning the Buy Box is no easy task. This is because the Amazon algorithm we discussed above is heavily reliant on Buy Box data. But, with an end-to-end Amazon data solution, you can formulate a data-driven strategy that will substantially increase your chances of winning the Buy Box.
Monitoring and adjusting key metrics with real-time data
The price of a product is a key factor in winning the Buy Box. With that in mind, you require real-time Buy Box data for competitor analysis and optimized competitive pricing. You need a data solution also for monitoring feedback and reviews from customers.
A positive review and a high seller rating are essential for Buy Box eligibility whereas negative reviews can significantly take the chance away from you.
Thus, you need real-time Buy Box data on customer sentiments to address them promptly. Doing this will help you maintain a decent reputation as a seller to win the Buy Box.
Extracting competitor pricing information
Data extraction partners are crucial for timely and accurate data, especially for monitoring and retaining the Buy Box.
With Grepsr, utilize actionable Buy Box data to monitor your competitor’s pricing and formulate your own strategy. Additionally, with data you harness the power to catch MAP violators as well as report the unauthorized sellers to Amazon.
Thus, by extracting pricing data of rivals selling the same product as you and targeting the Buy Box, you can optimize your pricing to be competitive and be ranked as an Amazon best-seller.
Inventory level fluctuations
As mentioned before, you must manage your inventory to ensure sufficient stock is critical to meet the demand for quick purchases. This is vital to be buy box eligible.
Grepsr can provide you with daily new Buy Box data on the status of your inventory as well as of other multiple competitors on Amazon.
From the real-time data insights, you must take the steps to increase your stock levels once you figure out that a certain product is on the verge of selling out.
Tracking shipping times
With Grepsr’s Buy Box monitoring data solution, you can evaluate the very critical shipment performances of the orders.
We already know that Amazon prioritizes sellers who are accurate in their order fulfillment. It takes factors into consideration like the order processing time, the time it leaves for shipment, and order defect rates.
A data extraction service provider will help you gain insights from valuable metrics by monitoring the shipping of your competitors. It includes the on-time delivery rates, delivery options, and average shipping times.
With this information, you can adjust your own shipping strategies. Thus, to win the Buy Box, you must win the customers by delivering their purchase orders on time and they genuinely leave positive feedback.
In conclusion, mastering the intricacies of the Amazon Buy Box is not just a matter of chance but a strategic journey fueled by real-time data insights.
Grepsr’s large-scale data collecting solution allows you to monitor a wide range of Buy Boxes at a frequency of your preference.
This holiday season is for you to gain a competitive edge by monitoring and adjusting crucial metrics, staying ahead of the competition, and ultimately delivering a seamless and positive customer experience.
Henceforth, leverage Grepsr’s web scraping service solution to stay vigilant in monitoring and propel your e-commerce success to new heights on the Amazon marketplace.