AMAZON SELLERS SUSPENDED For Price Gouging amid CORONAVIRUS Outbreak
Do not lose your account over price gouging.
My name’s CJ Rosenbaum, one of the founding partners of this incredible law firm, this incredible group of people behind amazonsellerslawyer.com. Today you must know about price gouging, on how to avoid getting your account suspended or your listings going down. If you are selling anything at all, anything directly related to the coronavirus; sanitizers, wipes, masks, gloves, anything at all that is directly related to people avoiding getting sick, the huge risk that you face if you’re raising prices on things that have to do with consumers’ health and safety in light of the coronavirus epidemic, you may get your entire account suspended for price gouging.
We saw this when it came to water after some hurricanes. We’ve seen this from time to time when there’s a disaster or a tragedy. I don’t think for one minute, not for one minute does Amazon really care about the prices, because I know they love to make money. What I do think they want to protect is Amazon’s brand. This is all about brand protection, and we know more about brand protection than anybody on earth. Amazon is going to suspend you, shut you down for price gouging, so Amazon can use that information to say how great it is for protecting consumers in their time of need, so don’t do it.
Now, a flip side of this is that if you are selling products that are unrelated to the virus, absolutely unrelated, if you’re selling pens like my ASL pen or you’re selling mugs, coasters, electronics, clothing or other items that are totally unrelated to the coronavirus, then you may want to look at your sourcing and your inventory levels. Because if your inventory is going to be impacted by the factories in China who don’t have staff who are going to fulfill large orders rather than yours, if they’re going to fulfill the big brands’ orders before they ever get to yours, you need to do some inventory control now and plan now for Q3 and Q4. So supply and demand I think governs, but you have to be super careful. Look at your products. Only you can decide.
If you have a limited number of units, if you have limited inventory and you’re concerned that your next order is not going to come on in, well, then you may want to start raising your prices incrementally. So, a couple of things will happen. You will likely slow down the number of sales, which means your inventory will last longer. You’ll have more inventory going into Q3 and Q4. Also, your ROI will increase. You will make more money on a per-unit basis. So for every single seller out there, every single one, you have to do your own self-analysis. I can’t give you advice on a video that’s meant for thousands of sellers, but if you want to toss the ideas back and forth, how much you can raise your prices, what your risks are if you need us to hook you up with our team in China to visit your factory to see whether or not your next shipment is going to be slowed down, get in touch.
If you’ve been suspended on Amazon, contact us for a free consultation: 1-877-9-SELLER.
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