5 Tips on How to be Successful on Wayfair
Usually, I talk about all the things to be a successful Supplier on Wayfair. Today, I want to take the opposite approach. Let’s talk about what NOT to do.
Poor Merchandising
I define poor merchandising as having only 1 silhouette on a white background, 2-3 bullet points, and a product title that does not say what the product is and ZERO SEO terms.
Small Assortment
Do you have less than 50 items on site? If so, your assortment is too small to be meaningful on Wayfair.
Out of Stock on Top Sellers
It is simple math. No stock on top sellers, no sales.
Do Not Participate in Promotions
Here’s a little known fact. Suppliers who participate in promotions tend to grow their sales at TWICE the rate of Suppliers who don’t participate.
Not Priced Competitively
This is the NUMBER ONE reason Suppliers are not successful on Wayfair. They have priced their products out of the market. Like it or not the E-Commerce Sales Channel is very price sensitive.
Ok, so now you know what NOT to do. Let’s talk about the things TO DO.
Merchandising
Best in Class Merchandising includes multiple images (silhouette, life style, close ups, dimensional drawings)
It also includes a minimum of 6 bullet points with SEO terms.
In addition, create an SEO rich romance description and strong SEO rich Product Title.
Small Assortment
The most successful Suppliers have at least 100 products in their product catalog.
It is a numbers game. More products lead to more sales.
Stay In Stock
I know that may sound like the dumbest thing ever to have to say. But, you have no idea how common this is! Use the 80-20 rule. Stay in stock on the 20 items that do 80% of the business. Boom! Instant sales boost.
Participate in Promotions
As I said this is the fastest way to increase sales.
Only sell products that you can price to win.
I get that everyone needs to make their margins but, that also means not every product should be sold online.
It is much more effective to do a competitive pricing analysis to determine what products you should sell online.
If you want to learn more about how to become a successful Wayfair supplier CLICK HERE to schedule a call.