In 2020, the Chinese New Year will take place on January 25th, so revamping your Amazon store now will see you best prepared when the Chinese consumer comes to shop.
While the holiday is not a shopping-focused event, it occurs at a time when annual bonuses have been granted and people are inclined to buy gifts for their family and friends. This has made the event a new favorite of Amazon retailers worldwide.
According to EDITED, 2019’s Chinese New Year led to a 70 percent increase in Chinese-specific product offerings in the United Kingdom while the U.S. marketplace boasted an increase of 92 percent. This signifies the importance of this holiday as retailers continue to tweak their sales strategies.
So instead of lying low and waiting for the event to pass, why not capitalize on the growing buying power of Chinese shoppers? For Amazon sellers looking to increase their sales in 2020, here are 8 different ways to boost your revenue during the Chinese New Year.
1. Include Rat-Themed Products in Your Offerings
The 2020 Chinese New Year is going to be the year of the rat, so a great way to resonate with the Chinese consumer is to include rat-themed products in your stock. This is applicable to all kinds of products, including clothing, jewelry, toys, and electronics.
A shirt seller, for instance, can get a creative rat design printed on a red t-shirt. Some Amazon sellers have already started doing this on their stores. With the right approach and some creativity, you can also brand your store with rat-themed items for the upcoming holiday.
2. Promote Your Listings on WeChat
94 percent of the Chinese population uses WeChat on a daily basis. No wonder so many brands are flocking to this social networking app to promote their products and services. While you may not have the budget to run banner ads on this platform, you can sign up for a business account to leverage the many other features this platform has to offer.
Then, by participating in relevant groups and sharing your store’s link on WeChat, you too can get some eyeballs on your Amazon webpage.
3. Use Keywords Related to The Holiday Event
Keywords lead the way when it comes to getting your listings found. Don’t monkey around with Amazon SEO this year – make sure to optimize your product titles and include a few keywords related to the Chinese New Year in your descriptions as well. You can use a popular keyword tool tool like Sonar and skim through your competitors’ Chinese New Year listings to come up with a list of keywords to incorporate.
For example, many sellers are currently using the word “gifts” along with the search term “Chinese New Year 2020,” so it might be useful to incorporate these keywords in your product page content. Set aside time to do some research and compile a list of 100-200 keywords to include and test for your Amazon listings.
4. Optimize Your Product Listings to Promote Your Chinese-themed Products
When buyers search for items on Amazon, the platform’s own A9 algorithm predicts potential products they might be looking for and displays the most relevant ones first. Though Amazon is pretty vague about what, specifically, the algorithm is looking for, there are a few key elements you can focus on. In addition to using related keywords, you can optimize your product listings by following these guidelines:
- Make sure you don’t make any spelling and grammar mistakes in your product description.
- Use bullet points to highlight your unique selling points in the product features.
- List two or more high-quality images of your product.
- Ensure that you have products in stock, as Amazon’s algorithm will list available products before displaying products that are out of stock.
5. Keep Your Pricing Competitive
Product price is one of the key factors consumers will consider before they decide to make a purchase on your page. Many Amazon retailers implement a competitive pricing strategy in an attempt to stay ahead of their competitors. There’s a fine line you should consider here, though.
When determining your selling price through competitive pricing, you should consider the quality of your product as well as your position in the market. For example, if you’re an entry-level writer who just started selling your own Chinese New Year children’s books, you can’t place your products in the same price range as those of more established authors in the field, like Grace Lin. On the other hand, if you go too low, consumers could get the impression that your products aren’t high-quality.
You’ll need to conduct a market analysis and find the sweet spot. If you get your pricing right, you could also score some brownie points with that tough-to-crack algorithm.
6. Create a Chinese-themed Promotional Video
In a January 2019 survey, product experience management platform Salsify found that online shoppers expect an average of three videos when viewing a product on an online platform such as Amazon.
Keep your videos short and be sure to capture the viewer’s attention within the first nine seconds, or else they could lose interest. If you decide to make a narrated video, you can also consider adding subtitles to personally connect with your Chinese audience.
By using videos to enhance your customers’ shopping experience, you can increase your conversion rates and get more sales over the holiday season.
7. Send Your Products to Amazon’s Fulfillment Centers
Signing up for Fulfillment by Amazon (FBA) can be very beneficial for your business, especially during special events like Chinese New Year. Holiday shoppers generally prefer to receive their orders as quickly as possible. This is why they are more likely to buy from sellers who offer the Amazon Prime two-day shipping guarantee.
With FBA, you can store some of your stock at Amazon’s fulfillment centers ahead of the holiday season, and they will ship orders to customers on your behalf. This also means that you carry no risk for shipments that aren’t delivered on time.
8. Plan Ahead and Stock Up in Time
Some retailers find themselves in a pickle when they don’t consider the fact that most overseas manufacturers cease production during the Chinese New Year.
If you receive most of your products from a Chinese supplier, you should plan ahead and order enough items at least two months before the holiday celebrations start. Most factories will shut down one or two weeks before the eve of the Chinese New Year to give workers enough time to travel home for the festivities.
You should also ensure that you order enough products to last you until a month or so after the holiday. Some manufacturers don’t open their doors again until a few weeks after the celebrations are over to give their workers some extra time to spend with their friends and families.
This large order you place ahead of the event is the perfect opportunity for you to send those extra stock items to Amazon’s fulfillment centers.
The Chinese New Year is a golden opportunity for you to grab consumers’ attention and make some extra sales. With some efficient planning and a clever marketing strategy, you can boost your revenue exponentially during this festive event. Just make sure that you start your planning process a few months beforehand. This will enable you to carefully consider every possible aspect that will allow you to capitalize on this big sales opportunity.
To learn more, read our previous blog post for more Amazon Holiday Selling Tips, or check out our full Guide to Selling on Amazon. And if you’re looking for more personalized assistance, make sure to contact our Amazon consulting experts for winning strategies that will help you rise above your competitors.