Today, we’re going to talk about our final Sales Rank Shape. We’ll also show you how to find this information for yourself and how to apply what you’ve learned.

Keep reading to learn more.

The Slip

The Slip is an item that was very popular but has started on a steady decline. There’s no telling if it will recover. You want to be careful about these – the Slip usually coincides with a moment when every seller has heard about the item, sourced it and is offering it for sale. Competition is likely to be tight, margins small and sales slow.

There is however one thing that might make such an item compelling – Christmas season. Take this book – when people will start looking for presents to buy, it will show up on all sorts of “Top” lists that might temporarily increase sales.

CamelCamelCamel

We’ve written about this before, but CamelCamelCamel is the secret behind understanding historical Sales Rank. Here’s a video I made that shows how to use CamelCamelCamel from within Profit Bandit.

What’s Next?

Once you understand Sales Rank and how it can impact your bottom line, the next step is to apply what you know to how you price your inventory.

Using Sales Rank to create pricing strategies is one of the smartest decisions you can make. Here are some techniques to get you started:

• If you find yourself with a Slip on your hands, you might want to start lowering your price. At the very least you’ll cut your losses before it’s too late.
• Is an item starting to Sizzle? Start raising your prices!
• Is it time for a Seasonal item to start heating up? This is another great time to raise your prices!
• Do you have a lot of Slow items in your inventory? Make sure that you’re offering a competitive price.

+Paul Cole