27 Aug What is Amazon Outlet? See how it works
Another of the possibilities offered by Amazon in its marketplace for sellers is the Outlet sales program for products with excess inventory.
If you are a seller who handles large amounts of inventory and you are looking for a solution to get out of those products that have been in your warehouse for so long and are not sold as often, you have to know the Amazon Outlet and to know what are the benefits it can bring to your business. Amazon is the first e-commerce company today, and we know that it is always innovating and designing new strategies and opportunities for those who wish to sell on its platform. In this post, we’ll tell you everything you need to know about Amazon Outlet.
The Amazon Outlet is a section where you can find products from many categories and is the perfect place for those sellers who have excess inventory in their warehouses and no longer know what to do to sell those products that are stagnant. Those products can come out as black friday deals on amazon and that’s very interesting. All consumers love being able to find their favorite products at the best prices, even when they are products that they do not know, or that they did not know they wanted, if they see it in a super offer, they will surely think about it and end up buying it. That’s why we know that Amazon Outlet can be a great opportunity for you and your business because you will be able to sell your slow-moving products at low prices to be able to get out of them and you will not lose money.
You should know that efficient inventory management is quite a precise task that takes time and also requires efficient workflows in order to be perfected. To maximize the performance of your in-stock units and not incur unnecessary storage costs, Amazon defines excess inventory based on these two criteria:
– If at least one piece of stock is more than 90 days old in stock.
– If the cost of holding your inventory without taking any action is greater than the cost of taking action (such as lowering your prices to increase sales or eliminating excess inventory).
How Does the Amazon Outlet Work?
Amazon estimates excess inventory based on product demand and costs (such as fees and unit costs) and then calculates the level of inventory that can provide the highest return on investment for your business.
The Amazon Outlet program has compiled overstock, inventory closes, and markdown deals in one place for consumers to negotiate, and in order to participate in the Amazon Outlet program, you’re going to need to offer good Outlet deals on ASINs that are overstocked that are qualified.
The first thing you need to know is that, in order to participate in the program, you need to offer Outlet deals on overstocked ASINs, but the products must meet some basic requirements determined by Amazon.
Offers for products that meet the Outlet requirements to sell on Amazon must demonstrate 30% off the previous day’s lower Buy Box price or 30% off the previous 30-day average Buy Box price.
The Amazon Outlet program is designed and structured for ease of use and is divided into groups such as Best Seller Deals, Leftovers, and Super Discounts where your products will be placed according to the category they belong to.
What You Need to Know to Participate in the Amazon Outlet Program
To enroll as a first step, you must notify Amazon of the reason why you are interested in participating in the Outlet program.
Amazon will respond with the eligible ASINs in your catalog and send you a form that you must fill out in order to move forward. If you don’t have any eligible ASINs, Amazon will contact you when you have them.
As a final step, you must submit the form to Amazon within two weeks of receiving the invitation.
The Amazon Outlet program can only be used for excess inventory offers that are currently available for sale and are in Amazon fulfillment centers, which means that you need to use FBA for the specific SKUs that you want to sell in the outlet.
Are you ready to start selling on Amazon? Don’t hesitate any longer and become a potential seller. At Nozama Soluciones we have the best team of experts on Amazon, so we have all the tools and strategies you need to start boosting your business. Start selling on Amazon easily with the best advice and support. Contact us!