COVID-19 altered demand, limited supply, and reduced production for several brands across Amazon. Despite these setbacks, the coronavirus pandemic also spurred innovation and long-term opportunities for growth.
The following strategies can set any brand leader up for greater growth in the aftermath of COVID-19.
1). Strategic Shipping
Although Amazon Prime has returned to almost-normal operations, some Amazon fulfillment centers are still severely affected by the coronavirus. This makes it difficult for Prime members closer to those fulfillment centers to receive their shipments promptly. To combat this, take advantage of dual delivery methods and move from FBA (Fulfilled by Amazon) to FBM (Fulfilled by Merchant) for orders made in the more hard-hit states.
2). Clever Bundling
The effects of COVID-19 have encouraged more consumers to buy in bulk. Capitalize on this latest trend by bundling items. With bundles, customers feel like they get more bang for their buck and it saves them time on having to put in reorders. Bundles are also a win for sellers. Shipping bulk is cheaper than shipping one-off purchases since sellers don’t have to pay as much in shipping fees.
3). Improved Ad Efficiency
Ads are something you don’t want to sacrifice; they drive traffic and conversions to earn you more sales. During times like these, focus on conversion-based campaigns as opposed to awareness-based campaigns. To learn more about how you can save money and increase efficiencies on Amazon advertising, check out this blog post: 4 Ways to Save Money Advertising on Amazon
If you’re looking to improve your ad strategy, take advantage of our FREE Amazon Advertising Audit. We’ll go through your account with you and show you where your biggest ad opportunities are.
4). Streamlined Order Fulfillment
With the move from FBA to FBM shipping, consider connecting with 3PL (third-party logistics) teams for MFN (Merchant Fulfilled Network) solutions. A 3PL team will fulfill orders for you, allowing you to place your focus on more urgent tasks.
How COVID-19 Is Accelerating Immediate and Long-Term Growth Opportunities for Brands on Amazon
Of course, these are only a few examples of how brands were able to use the pandemic as a springboard for growth. You can learn more about what opportunities are available for you in our latest webinar: “How COVID-19 Is Accelerating Immediate and Long-Term Growth Opportunities for Brands on Amazon”
Hear from elite Amazon experts and industry leaders. They’ll discuss how changing consumer preferences are creating opportunities for brands as they incorporate eCommerce and Amazon into their distribution strategies. You’ll hear from:
- James Thomson, Partner, Buy Box Experts
- Liz Fickenscher, Industry Liaison, eComEngine
- Juozas (Joe) Kaziukenas, Founder, Marketplace Pulse
- Nich Weinheimer, General Manager eCommerce, Kenshoo
- Scot Ciccarelli, Senior Research Analyst, RBC Capital Markets
Watch the webinar below or click here: How COVID-19 Is Accelerating Immediate and Long-Term Growth Opportunities for Brands on Amazon
Learn more about growth opportunities available in your category through our FREE Market Share Analysis. We’ll show you how you compare to your competitors and tell you what you can do to come out on top.