Still have something left to buy from your bucket list or missed Amazon Prime Day in July- this news will brighten your day. Amazon is holding another Prime Day this year and offering shoppers a second chance to score discounts and deals.
It’s the FIRST TIME Amazon will hold two shopping events in one year. According to a notice considered by CNBC, the retail giant is planning to carry the “Prime Fall” deal event in the fourth quarter. The company recently started notifying hand-pick third-party merchants via its internal seller portal, called Seller Central. The notice doesn’t specify dates but instructs sellers to submit limited-time “lightning deals”, before the second prime day begins. According to reports, the second Prime Day is tentatively called the “Prime Early Access Sale.”
Why is Amazon Prepping For Prime Day 2.0?
According to a statement by Amazon, Prime Day held in July is the greatest event in history. Over 300 million items were bought by consumers worldwide on Prime Day 2022. Amazon is reportedly looking to replicate one of the company’s grandest recent successes in Prime Day 2.0. It could be a way for Amazon to compromise on the losses it has reported over the past few quarters due to the pandemic. In Feb 2022, Amazon increased its Prime membership price by 17% to $139 per year for the first time in four years.
A Prime Day in the fall could also help the eCommerce companies entice more customers to sign up for its Prime discount club, which currently boasts over 200 million members worldwide.
Amazon Prime Day 2022 Recap
In a press release, Amazon revealed that Prime members purchased more than 300 million items worldwide, an increase from the 250 million items sold in 2021’s event. Prime Day’s success came despite rising prices for essential household items and products. However, inflation did factor into customers’ decisions on what to buy and what not to buy.
Statistics
- Data and research firm Numerator reported Amazon’s average U.S. order size in 2022 was $52.26, up from $44.75 in 2021. Nearly two-thirds (62%) of U.S. households shopping on Prime Day placed more than two separate orders, bringing the average household spending to roughly $144.56.
- Prime Day 2022 was Amazon’s most successful prime year for selling partners to date, with Prime members saving over $1.7 billion. Revenue jumped over 300% compared to the daily average in the 20 days leading to the two-day event.
- An analysis by Numerator found that shoppers were more likely to purchase household essentials than electronics and that 83% of customers said inflation was impacting their purchase decisions.
- Fire TV Sticks, Echo Dot (4th Gen), Blink cameras and doorbells, Amazon Gift Card reloads, and Ring Video Doorbells were the top five Amazon-branded products sold in the U.S. according to Numerator.
- Consumers focused on less expensive items this year; 58% sold for less than $20, while only 5% sold for over $100. The top categories consumers purchased were household essentials (29%), health and beauty (28%), and electronics (27%).
- 96% of U.S. shoppers surveyed by Numerator were Prime members, with 2% joining during the event. According to Coresight Research, 54.9% of U.S. adults have a Prime membership, and another 25.7% have access to the membership through another household member.
- 40% of respondents in the Numerator survey stated that Prime Day discounts were their main reason for shopping. 44% said they did not consider other merchants for their purchases.
With customers spending more than $3 billion on 100 million+ small business items, Amazon’s support to small businesses to win big promotions was a success. This year, the competition was fierce between Walmart, Target, Best Buy, and more, but Amazon continues to lead the charge.
How To Prepare For Amazon Prime Day Fall?
We have pulled together our best early bird tips for prepping brands for guaranteed Prime Day success. To fully reap the rewards of Amazon Prime Day, it’s essential to take steps directly to get your business ready for the potential uptick in sales. We’ve compiled the ultimate checklist to ensure you are Prime Day ready.
1. Set Up You Add Campaigns Early
Stay on top of your campaigns. Set aside some time to check on your campaigns during Prime Day. Pay close attention to your bids and budget. During peak shopping events like Prime Day, your ads may receive more traffic and clicks than usual, which signifies you may go out of budget quicker than expected. Therefore, be sure you have the budget to capitalize on Prime Day.
2. Advertise Through Non-Amazon Channels
Consumers are interested in finding products on Facebook, Instagram, YouTube, and even TikTok — capturing their interest with posts, Instagram stories, and short videos letting them know how much they can save on your products on Prime Day. Leverage Influencers and their platforms: Influencers are a valuable tool for brands, as they can influence an entirely new audience of individuals to trust your brand.
3. Optimize Your Listings
Check your title, bullet points, and descriptions to make sure that they’re up to date. Create detailed storefronts and A+ Content to keep the customer’s attention. Use pictures to tell customers how a product will benefit them. Consider setting up Amazon Live streams. You can showcase your products directly to shoppers and drive traffic to your store.
4. Ensure You Have Enough Inventory
FBA sellers should make sure any new inventory reaches fulfillment centers in time to avoid stockouts when the event comes around. Make sure you have enough stock for your promoted products and best sellers.
5. Boost Your Marketing Strategy
Optimize all your PPC Campaigns. Take advantage of your early access to Amazon’s advanced PPC advertising solutions. These include Sponsored Brands, Sponsored Display Ads, and Sponsored Brands Video, Sponsored Display Ads. Consider bidding more aggressively for your product’s most important keywords to increase your organic ranking by Prime Day.
6. Don’t Go Crazy. Plan Ahead
Balance the cost of discounting products and advertising your deals with target revenue. You also want to consider the value of acquiring new customers in your equation. While you want to set your ACoS targets higher for Prime Day, you want to ensure they’ve risen enough to deliver but not so high that you spend more on advertisements than you earn.
7. Offer Customers Multiple Ways To Save
Amazon coupons are the best way to let customers know you’re offering discounted Prime Day prices. Make your product more visible during the event with lightning deals as they are discounted prices available for a few hours at a time as a flash sale. Amazon sellers can create different promotions such as “Buy One Get One Free” or “Buy One Get One 50% Off”. If you add both list and sale price, Amazon will display the discount offered on your listing.
Final Thoughts
If you invest in the customer, they’ll invest in you. That’s what Prime Days is all about. It is one of the many rewards for loyal shoppers and customer-focused brands. So, don’t miss out on this unique win-win situation. With proper tactics and care, you can make a killing out of Prime Day fall. Developing a profitable Amazon advertising strategy is tough. Whether you’re an experienced Amazon seller or new to Amazon retail, spot the boost in your performance once you start working with Sipransh Ecommgrowth. If you want to see what we can do, reach out to us before your big day arrives.
SIPRANSH ECOMMGROWTH is an Amazon Seller Consulting Agency started in 2020. Working for more than 2 years now, we have helped hundreds of Amazon sellers to improve their Amazon product ranking and sales and make their businesses reach their actual potential with the help of our end-to-end solutions for their Amazon accounts.
