Amazon Wishlist is a gift catalog that people create to let their loved ones know what they’d like as gifts. It takes the guesswork out of gifting and ensures the person who created the wishlist only gets the things they want as gifts.
The Amazon Wishlist feature started in 1999 as a solution to people creating lists of items they wanted as presents and sharing them with loved ones. The feature has seen several updates since then and revolutionized how people gift each other today.
Up until 2018, buyers had very little control over their wishlists and how other people accessed them. But today, buyers can edit and share their wishlists with their friends and family. Buyers can also edit their friend’s wishlists by adding items and quantities.
Why do buyers add items to their wishlists?
Before taking advantage of the buyers’ Amazon Wishlist to boost sales, it’s imperative that you first understand the psychology behind creating a wishlist. A potential buyer will typically an item to a wishlist because;
1. They’re in the first step of product research
A potential buyer in the first stage of product research will typically save a product to their wishlist as they compare it to other products. The buyer wants to keep track of the product and make it easier to find it when they finally decide to buy.
2. The item is unavailable at the moment
A potential buyer might want to buy an unavailable item or whose preferred variant is unavailable. The buyer adds the product to their wishlist so that they can check it’s availability later on.
3. They’re waiting for a price drop
Most Amazon sellers reduce their products’ prices, especially around the holidays. A potential customer can add an item to their wishlist to keep track of price changes and buy at the lowest price.
4. They don’t have the budget at the time
Potential customers will sometimes go “window shopping” without the intent to buy at that time. In such instances, the potential customer will save an item they like to their wishlist, so it’s easier to find when they’re ready to buy.
5. They intend to share it with family and friends
Some people create wishlists to share with their friends and loved ones as gift suggestions. It’s quite common for people to share their wishlists with friends and family when there’s a holiday around the corner. Think Thanksgiving, Christmas, and of course, personal events such as birthdays, anniversaries, weddings, etc.
6. They’re looking around for a gift
Most people start looking around for gifts long before the holidays or gifting occasions. For example, a potential buyer might start looking around for an anniversary gift months before the anniversary. When they find something they like, they’ll typically add it to their wishlist and order on a date closer to the anniversary.
Now that we understand why buyers create their wishlists let’s look at how you can leverage these wishlists to boost your sales.
Get buyers to share their wishlists
Amazon won’t send you a notification when a potential buyer adds your item to their wishlist. You can ask your customers to share their wishlists on social media to get an idea of what they want. You can then run a sale or contest on that product to drive more sales to it.
Incorporate email marketing campaigns
Email marketing is quite useful, especially when targeting potential buyers who add items to their wishlist, hoping that the price drops. You simply need to add potential customers to your marketing campaign and start sending them discounts via emails. Social media shares by your customers could reveal the items on high demand that’d get most sales if they went on offer.
Provide your buyers with gift ideas
Most customers have a hard time identifying the perfect gift for their loved ones. You can help your buyers eliminate the hustle of finding the perfect gift by giving them gift ideas and suggestions. This strategy works perfectly during the holidays when everyone is looking for gifts for their loved ones. You’ll also have an opportunity to market other products you sell outside Amazon since buyers can add items outside Amazon to their wishlist.
Amazon Wishlists are still relatively unutilized by most sellers. Incorporating Amazon Wishlists into your marketing strategies could put you ahead of the curve both in terms of sales and visibility. Amazon could also make more developments that could make it even easier for sellers to track shopping habits through wishlists and conduct more targeted marketing.