So the first week I went live I noticed that I took off a bit faster than I anticipated. A big part of that was a major mistake with a promo I did (see Promo Boo Boo post). My sale count was high, my ranking got a boost, and my organic sales started to pour in. I did a 12 unit day when it hit me, “Ryan, you’re going to freakin’ run out of stock.”
Now running out of stock will do a few things. 1.) Well, the obvious, you have no stock, you sell no goods, you make no moolah and that’s never good. 2.) Your seller ranking and product rank goes down. 3.) It’s possible, with enough negative actions to your seller account that you lose your ability to be prime eligible, meaning people don’t get their 2 day free shipping anymore, ouch!
So I increased my price by almost double to slow sales. It was a great idea right? Well sales still came in, slowly but surely and even more surprisingly it too snuck up to now 8 units a day!
I have more stock on the way, but Amazon’s warehouse likely won’t receive it until the end of January. I am pretty sure that without yanking the price up yet again, I will run out of stock.
I’m okay with running out though. I plan to be back in stock and lower the price slightly. Once I get another payout, I’ll make my order large enough to cover 2 months worth of sales. It’ll be a little tricky estimated the sales, but I’m confident I can get close.