What is Important During the Off-Season?
The presented popularity trend illustrates collected data of the product humidifier. The purpose of the analysis is to identify the period of the highest and the lowest demand for the product and determine the ways of the most effective work possibilities based on analyzed data.
The axis in the graph shows a sharp increase in the number of sales in November-December and a steady decline in demand in June-July every year. That means that buyers are interested the most in humidifiers in winter when the air is very dry. On the other hand, in summer, customers do not show such enthusiasm for the product because there is no need for humidifying air that much. In the spring and the autumn, indicators are approximately the same, not as high as in the winter and not as low as in the summer.
The comparisons to the data from the ad account is a confirmation of the analysis above. It is necessary for the process of building a strategy that will save the business from unwanted investments and multiply the profit.
Similarities from the graphs make the situation clear. The interest in the ad of the product grows at the same time when there is the highest demand for the products.
The seller keeps fulfilling the stock even in the off-season. A big part of the investments is spent on the stock fee payment. The stock is only growing because the number of sales is pretty low.
Following competitor´s data that is allowed to see can be very helpful in finding the solution. The graph with Google Trends shows that competitors have the same situation with seasonal products. The problem can be solved after the seller collects data and designates how many supplies are usually released in the period of the low demand on the product.
As was distinguished earlier, competitor´s information can be one of the essentials in current analysis. More precisely, the strongest competitors. The spreadsheet shows the top 10 sellers in a certain niche. The way to identify the strongest is to see their review velocity. Brand 1 has the highest number of reviews, however, Brand 4 has the highest velocity and soon will distill Brand 1. The first brand will go down in the table because of lower review velocity. The strongest seller is found.
Because of the seasonal demand on the product, the seller does not have to invest in the off-season. On the other hand, investing in the season is necessary, as well as usual stock fulfillment. When stock is empty Amazon turns off the advertisement.
Statistics can help to understand the approximate number of products needed on the stock when the demand for the product is not high. In the off-season, this move helps to not spend more than required.
In the time when buyers do not show interest in the product, business can concentrate on other product´s development. Keeping an eye on the best competitor´s strategy in the niche can help to understand in which direction to move with own business.
One of the best strategies for the humidifier in the off-season is supporting sales with lightning deals and discounts. They can help maintain the maximum demand for the product.