What is Amazon Prime Day?
Amazon Prime day is a promotion that gives access to special deals on a wide range of products to Prime members on the platforms. It is the most important day of the year for Amazon sellers, as sales are even higher than Black Friday. Amazon has defined Prime Day as the “largest shopping event in Amazon history”, with more than 175 million products sold during the sale. Some of the best-selling products for Prime Day 2020 are expected to be Amazon electronic devices like the Amazon TV Fire Stick, Echo Dot and other products. Although electronics perform well, the bestsellers will vary by country.
When is Amazon Prime Day 2020?
Last year, Prime Day happened on July 15 starting at midnight and it lasted for about 48 hours.
There has not been a specific date announced yet for Prime Day 2020 as it has been delayed multiple times due to the pandemic. However, it can be anticipated to take place in October, as in the 20 July 2020 earnings call Amazon said it is expected to be in in the fourth quarter of this year. More updates will follow and we will keep you posted as we know more.
What Impact Amazon Prime Day Can Have for Your Business
Prime Day brings the most traffic and sales on the Amazon Marketplace – presenting itself as a huge opportunity for extra sales for participating businesses. Many sellers compete to win the eyes and wallets of the spending eager customers – thus, having the best deal and visibility is as important as ever. Below we have prepared some recommendations to help you get the most out of the Prime Day.
Tips to Prepare for Amazon Prime Day
Following are some tips of what you can do to improve your revenue and maximise sales during this ecommerce opportunity on the Amazon marketplace.
Optimize Your Product Listings
The first thing you can start with is optimizing the product landing pages and feed – paying special attention to titles, bullet points, images, product descriptions and A+ content (if available). This will not only increase traffic to your products because they are easier to find, but it will also improve the conversion rate.
2. Offer Deals and Discounts
During this sales period, offering a great deal to the customer is of utmost importance. Customers will be hunting hungry to find the best bargains and should make sure they see yours! There are several ways to do that depending on how much you are willing to spend for the deal. One of the most effective ways is to be featured on the Deals page. If your product qualifies, Amazon might also include you in their newsletter – bringing extra visibility of your product. Following that, coupons, cut price and % off will also ensure varying levels of discount visibility on the grid or product listing page.
To be fully prepared you need to reprice your products with special offers, bundles and other pricing techniques, this will ensure that you are competitive and that you can capitalize on this opportunity. To be eligible for some of these deals, you need to plan months in advance, for others can do as late as couple of weeks in advance.
3. Use Ads to Promote Your Products
To get that extra visibility when a customer is searching for a particular type of product, use ads to promote your products. Sponsored Ads will make you product stand out in the grid next to others, whilst Sponsored Brands will make your brand win the top of the results page with dedicated branding and product display opportunities that won’t be missed. Lastly, still rather many people abandon carts due to many reasons, some of which are simply being distracted. Thus, a good remarketing strategy can help you win back those valuable almost-converted customers.
If You do Not Sell on Amazon yet
If you are in the ecommerce business and you are currently not selling on Amazon, you might be missing out on a big opportunity for your brand. In May 2020 there were about 2.5 billion visits both from desktop and mobile devices, therefore having your products listed on this marketplace could potentially help your business grow to its full potential. Being successful takes more than just listing your products on the platform, in fact lots of expertise is required to make your products visible to a large number of users and to get more sales. Read about how we helped one of our clients achieve a 170% increase in sales YoY in our case study.
Are you interested in making the most of the Amazon Prime Day 2020? Whether you are new to platform or experienced seller, we can help your products stand out and win the eyes and wallets of Amazon customers.