The main reasons why overselling is not good for your business
One of the key components of your online business is your product data and the most important part of that inventory. Having items for sale on different channels, with the same inventory, may put you and your clients in difficulty in case you don’t update it in real time and certain items become out of stuck in real time.
Buyers need to know if an item is in-stock and available for purchase. It also helps to show if an item is in low stock so a buyer knows they need to act quickly in order to buy it.
Overselling is one of the biggest threats for multi-channeled online businesses because nothing’s worse than telling a customer you can’t ship an item they bought because you don’t actually have it in stock anymore.
Amazon doesn’t joke with overselling, not one bit. If you oversell, you will be suspended with no questions asked. Overselling is a common mistake among new sellers, especially those selling on multiple channels, because it’s not always easy to remember to update the shopping cart on your website and your point-of-sale software regarding a finalized eBay sale, but forgetting to update it in Amazon.
Having more inventory listed on Amazon than you actually possess is an account suspension waiting to happen.
The main causes of overselling are not updating stock across every sales channel, a discrepancy between actual and recorded stock, inventory being damaged or destroyed or a sudden spike in demand. There are certain times each year when these mistakes can happen more easily, such as during Black Friday or Cyber Monday or during successful sales or promotional campaigns, so basically when buyers expect their orders with even bigger interest than normal.
You can imagine how bad it must feel for the customer to hear that his order can no longer be delivered due to stock misinterpretation. And these mistakes are easily done by anyone who sales online, remember that!
Always keeping an up to date inventory on more than one selling platform is a hassle and it’s not something that’s done every day, especially if business is striving. So there is a high chance of having stock related issues if you don’t focus on inventory management.
Forget about the risk of overselling and efficiently handle your inventory management with Nventree , as it will help you manage your stocks, products, and orders across multiple platforms, such as eBay, Amazon and your shopping cart from one easy-to-use interface, instead of having to log into each channel separately.
The app updates your stocks in real time and automatically synchronizes them with most platforms and e-commerce websites, such as Magento, WooCommerce of Shopify. All is done from one simple interface instead of logging in to separate channels.
Simplifying your stock management and putting you always in the know are the main objectives of the Nventree app and once you’ll start using it, you will surely notice the difference in quality of your whole selling process as a business.