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The release last month of the National Retail Federation’s annual survey showed that back-to-school spending could reach record levels. But according to Buy Box Experts, that’s not necessarily good news for Amazon sellers. The Amazon branding strategy consultants are warning vendors that with COVID-19 changing school scenarios by the day, inventory choices could make or break profits.
Buy Box Experts has managed more than $2 billion in revenue for 10,000 Amazon sellers and counting. Through customized consulting and specialized software, they help companies reduce overhead, automate time-consuming processes, create A+ enhanced marketing content, minimize counterfeit listings, and run effective ad campaigns.
According to Joseph Hansen, Buy Box Experts Founder, the fluid nature of this year’s back-to-school projections is making it very difficult for retailers to know what to sell and how much of it.
“The target keeps shifting, and that leaves Amazon sellers in the lurch,” said Hansen. “If things are all virtual, students will need laptops and headphones. If students go back in person, they’ll need all of the usual school supplies plus reusable masks, disinfectant wipes, and hand sanitizer. Retailers need to be stocking up, but they don’t know what to stock up on.”
California’s governor recently passed regulations that will keep most of the state’s schools from opening in person, but school districts in New York City and Chicago will have hybrid models with a mix of virtual and in-person. A number of other major districts around the country have yet to announce their plans.
Based on the National Retail Federation survey conducted by Prosper Insights and Analytics, total spending for K-12 and college combined is projected to reach $101.6 billion, markedly outpacing last year’s total of $80.7 billion.
“The question is not whether or not people will be spending, but what they will be spending on,” said Hansen. “With dorm room décor, apparel, and traditional school supply sales hinging on at least some in-person learning, there are a lot of variables for sellers right now.”
Hansen is urging his clients, who include first and third party Amazon sellers, to keep a close eye on school updates and not get discouraged by the uncertainty of the times. “Many schools are starting later than planned, which extends the back-to-school shopping season and buys retailers a little more time, and school arrangements could shift later in the year, leading to even more back-to-school purchases to accommodate the changes,” said Hansen.
He also encouraged sellers to worry less about what they can’t control (i.e., changing school plans) and more about what is within their power. “Advertising strategies, optimizing listings, stamping out counterfeit listings — these are all things that sellers can control that will enhance sales here and now,” said Hansen.
Prior to Buy Box Experts, Hansen founded and sold five companies. In 2015, Hansen and Buy Box Experts partner, James Thomson, PhD, co-founded the Prosper Show, the largest U.S.-based educational conference for Amazon Sellers. They successfully sold the company to Emerald Expositions (NYSE: EEX) two years later.
Having weathered many ups and downs in their combined 30+ years of experience in e-commerce, Hansen and Thomson are guiding their clients through the challenges engendered by COVID-19. To learn more about Buy Box Experts’ Amazon marketing services, visit www.BuyBoxExperts.com.
About Buy Box Experts
Buy Box Experts specializes in Amazon account management, including A+ content detail pages, Amazon product SEO, and brand equity management. Amazon sales consultants and branding strategy managers at Buy Box Experts help businesses sell more on Amazon and protect their brand equity.
