Prime Day incoming!
Amazon’s major sales event is back, with Prime Day confirmed for mid-July.
Confirmed for July 12th-13th, Prime Day originally started as a celebration for Amazon’s 20th birthday back in 2015, and has fast become one of the major sales events on the platform. They tend to hold the event in the summer, spreading it out from Black Friday and Cyber Monday events later in the year.
In 2021, customers spent a whopping $11.2 billion during Amazon Prime Day – up by 7.7% on the previous year. It’s only ever increased in sales over time, becoming the second most popular Amazon sales event of the year. Customers can’t get enough! With over 250 million products purchased, the best-selling categories last year included:
- Baby care
- Household Products
As the event is across all categories, there’s a certain expectation from customers. They want huge savings, plenty of stock to choose from and a smooth buying process. This means it’s really important for sellers to start planning and preparing now.
Plan your inventory
In a survey taken by Digital Commerce 360 following the 2021 Prime Day, 11% of customers encountered products that were out of stock. Some of this is certainly down to inventory challenges faced following the pandemic, but it could also be due to retailers being unprepared for the high demand. Make sure your inventory is evaluated and restocked well ahead of time, whether your FBM or FBA sellers. That way you can meet the demands of shoppers as well as set your limit so you don’t become overwhelmed.
Submit your deals
Decide now which products you’d like to be considered for exclusive Prime Day deals. With 7 day and lightning deals available, it’s important to make use of them, as that’s what’s going to get you noticed. Savings are what the customers are looking for. Even if they’re not actively looking to spend, if you’ve got a good deal running there’s a big chance they’ll still buy. Forbes found that 48% of shoppers agree that Prime Day leads to unplanned Amazon purchases.
There’s a lot of competition out there, so planning your Prime Day strategy is an important step. Amazon may not select all of your Prime Day deals, so submit deals for multiple products where possible with competitive prices to increase your chance of being selected.
You could even consider creating some product bundles that complement each other. Customers love convenient bundles of products that they can buy all together for a cheaper price. As the goal of Prime Day is to boost sales and move inventory, product bundles are an excellent addition.
Vouchers will be the key to converting sponsored ads. Offering those Prime Day deals in your sponsored adverts will stop those customers from scrolling and grab their interest. Once they’re into your product listing, it’s really about making sure your copy and images really sell your product. Make sure you optimise your listings with high quality images and clear, concise copy that answers customers questions, wants and needs. It might be worth considering changing your keywords so they’re specific to Prime Day. If possible, you should also increase your budget for Pay Per Click to ensure your deals are visible to buyers. With so much competition during the event, it’s important to do what you can to increase your chances of pushing through the crowd.
Most importantly, don’t forget to promote the event and your Prime Day deals on your social media. As we know, Amazon loves click throughs from social media sites. Don’t just do it during the event. You should start promoting a couple of months in advance. What perfect timing!
Prime Day isn’t just for the retail giants. It’s super effective for small and medium sized businesses as well. So are you ready to start prepping and planning for Prime Day? If you need any help, feel free to get in touch.