What is going on Amazon sellers or hopefully soon-to-be Amazon sellers, my name is Beau Crabill
And in today's video this is gonna be part two of a four-part video series on preparing for the holidays
If you have not checked out part one yet definitely do so there will be a link down in the description
But in part one we went over on
Understanding what products should you putting a focus on for selling in the holiday season?
And if you're not selling those products then don't worry
You don't need to put any more time and focus on preparing for those now in today's video part 2
I'll be going over on the research of those products
So understanding what to do when we want looking for and to expect with price changes
What to look for and what to expect with sales ranks changes so that you're well prepared
And you're not making mistakes on buying too much inventory?
Or you realize that the prices are way too high right now when you're looking at them or maybe actually to maximise on some opportunities
For selling at the highest price possible. So the lowest price possible which many people will do during the holiday season
So what I'm gonna do right now is I'm gonna dive into my computer
I'm going to show you some product examples each product example
It's going to making a point on either
showing you how prices can change in the holiday season how sales ranks can change or the holiday season how you can adjust
To make sure your song in the highest price possible and how to adjust when looking at sales ranks. So you know how much?
Product to actually buy and to be selling during the holiday season now in tomorrow's video
We're gonna be going over some guidelines and specific dates for that. So stay tuned for that out right now
I'm gonna dive right into my computer
So the first product I'm looking at is this Disney doll, and this Disney doll
You can see right now is suffered $24 really funny story on this
the reason I'm showing you the same exact product is because I was selling this product was actually offered to me for
$7
right before the holiday season and I actually didn't I'm selling this product till way later on because when I was first offered to it
It was only hovering around sixteen seventeen dollars. There wasn't a lot of margin - and there was a lot of sellers
So when I was looking at it, I was like okay, there could be an opportunity
with it
But prices may fluctuate and this is a relatively new product when it came out
But now this products been on the market for quite a while. It's hovering around $24 right now and let's go into Keepa
So the first thing what you need to do if you have not yet download keep up to Chrome extension it to be very crucial
For understanding how to use this for preparing for holiday season. However, if I go down here
what I'm showing you right here is pink dots and
These sales ranks. These green lines the pink dots represent the buy box price
If you don't know the buy boxes, I have some videos on that very important topic, but it's right here
I'm just showing you the buy box prices and
these sales ranks
now as you can see
there's quite a change with this and the reason I'm showing you this is
Last year, we can see around during the summer January February and most of the year you can see it was hovering around 24 bucks
Sometimes got allows nine dollars, but around the 17 range as you can see
It's 17 dollars sometimes 1819 but then once they hit the holiday season, you can see right here. This is August September October
November
It starts to skyrocket with the price you can see it's being 29 dollars and 89 cents
$44 was the max was at so during most of the year it was selling for
$17 and at the peak during the holiday season that was selling at 44 95
Now the next product example I want to show to you because I want to later talk about supply and demand
And how you can actually understand how that will change
But this is just an example showing you what the change in prices can do later on this video
We're gonna discover on how we can actually figure out if those will go up or sometimes even down
So the next product I'm going over with you
Is this Star Wars blade builder Jedi light saber? And the person we're showing you here is with the changes with sales ranks
so I'm gonna go into keepa I'm gonna X out of anything that
Does not have to do with sales ranks and also price I'll keep prices up because we just went over prices
We now understand prices can change
So as you can see look on the computer during the holiday season, the price has really changed quite a bit
We don't have enough data back here because keepa was not tracking back then in 2016
But we can see during the whole de season the price actually went down
But if we just look at the sales rank, we notice that the sales rank goes down down down down down
Which means it's selling faster
in November
It starts a peak and then the price shoots up for some weird reason right after a cyber
Monday, and then right during the Christmas season
The sales rank drops dramatically as we can actually see it gets as low as 668
So now we can see that products start to move faster during the holiday season now later on this video
I'll be going over about how to adjust to actually more units you want to buy
But what I want to talk about right now is about supply and demand as you can see with this product right here
there's price changes and sales ranks changes, and we can have to see a pretty strong correlation with
These products and what I mean by that is the sales ranks going down products selling faster
but so is the price the price is also going down so
It doesn't really matter if you're selling a lot of units if you're not making any money
I'd rather sell units at a profitable price now as we can actually seen here when the product I could shoots up in price
so does the sales rank usually what causes the sales rank to go down and up is because of the price so
The price isn't going up because the sales rank goes down. Right and we can see here when it gots to the max of
$39 we can see that the sales rank was at
5500 so its 5500 of bad sales rank
Well, let's check. If we go into this free tool calculator right here and go 5500 and
Again, it's just an estimate. So this is showing 5500 or
5,000
Whatever amount but we're just giving an estimate right here
In the united states we go into toys because that was a category we're looking at
hit calculate sales
That's still 510 products. So there's one I'm bringing this up that that's still 510 units sold within a 30-day period is
You want to be selling at the highest price possible?
So when you're looking at a product like this and you know that okay, it's a toy. It's in the holiday category
It's selling well, I can see the previous keepa history last year. That's key point
You want to be looking at last year's data during the holiday season, you're gonna figure out there's probably gonna be some price changes
So price goes down and let's say you only have a couple hundred units or fifty units
Then you probably want to wait it out because you're gonna understand that people are gonna sell out
There's me less supply and you're gonna go raise a price for a higher price
Does that make sense but let's say you had a few thousand products then a few thousand units
That's not gonna work out well for you because you're gonna actually have to sell when that's happening
so kind of just to recap that point where I'm trying to make is that there's me multiple sellers in there and
Some people are gonna have a lot of units so they're gonna want to sell it right now
They're gonna lower the price to get more sales. But if you're someone who is doing the research beforehand and understanding, okay
Well, yeah, this is someone a couple thousand units per month
But I probably shouldn't order as much because I can maximize my profits by selling at
$39 thirty six dollars than great. Now if for some reason you're still profitable at the
$22.75 then feel free to go order as much as you want. But that's just the point I'm making there
So we just covered price changes
So, we now understand that prices can really go up during the holidays and looking at those dolls
That went almost up three times much also went over how products can change with sales ranks saying that these blade builders star wars
Products were going really really down in selling faster. Then we also went over supply and demand and preparing you so you can adjust on
The price you can sell your products at you may have to wait out depending on how many units you know
That's on the market how many units other sellers have and then also how many units you have?
so what I want to cover now in the last point is going to be
adjusting
for
how many units you actually want to go order and have in your store for the holiday season and a really good product example for
This is going to be this gorilla
Joby tripod pretty much what this product is is many people will get a phone and they want to stabilize
Their photos or videos and they can swap their phone onto this tripod and someone like that
Many people buy these during the Hornet seasons and many people buy this right after Christmas because they got a phone
now with this product we can see there's actually no sales rank and that's fine because
how I'm gonna show you this product is
We're going to assume that we're looking at a product that has
That is consistent all year round with this sales rank
If a product has a sales rank of 2,000 and would say video games in the month of July
But then during the holiday season say in November in December
It also has a sales rank at 2,000 even though it's the same sales rank. It's going to sell faster during the holiday season
There's me more units sold because there's more volume going with that. So how do you figure that out?
How do you figure out how many units are actually going to sell?
well
what we're gonna do is actually look at the reviews and
let's say we're assuming this product as a ranked sales rank of two thousand twelve months out of the year and
Let's say that sells a hundred units per month
If we figure out that there's twice as many reviews place during the holiday season. So let's say November and December
Or you could do December in January because some people place reviews after 30 days getting the product
I like to do December January
Say it has twice as many reviews then we can make a pretty fair guess that it's acting to get 200 about sales
Does that make sense?
So I figured out he's going to customer reviews see all customer reviews
then you scroll down to most recent and
Let's just count these past couple months. So October and
September so it passed 60 days. Let's see. There's been one two three
count that last one in October or August 28 so for reviews
But now let's go scroll down to the holiday season. So we go to the next pages
We're in July
may
March let's go four
Okay, December, so let's go 5 we're gonna do December and January, you know already tell there's more going on here
so we see there's
one two
This should be extra ten so that's 12
13 14 15 16
So there's 16 - that's close to 4 times many reviews
So what I would assume is that this approximate self four times as much now
Is that a best guess because could this holiday season be less and slower for this product?
Yeah, but it's gonna give you a good estimate on preparing on how many units these actually could potentially sell higher assuming
It's a product. That's consistent all year round. Does it make sense?
So that is it for this video now in tomorrow's video and day three we will be going over
About some guidelines and rules. You need to follow first selling in the holiday season
So some sellers may not even be eligible to sell in these specific categories
And then also making sure your products are checked into certain dates
But in this video, we just went over the product research methods if you have any questions at all
Feel free to drop them in the comments
If you like this video, feel free to give a thumbs up subscribe to this YouTube channel
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feel free to follow me on any type of social media platform all @beaucrabill, B-E-A-U C-R-A-B-I-L-L
Have a great day
You