Are you ready for Prime Day 2024? We know what you’re thinking, “Isn’t it too early to think about Prime Day?” After working with helping Amazon sellers get success on Prime Day for over 5 years, we can confidently say that right now is the perfect time to start preparing your Amazon store for the 2 day shopping frenzy.
If you’re a seller looking to cash in on Prime Day, you’ve got to bring your A-game. You can’t just slap up a listing with a couple of lackluster images and expect the sales to roll in. It’s gonna take some elbow grease and a well-thought-out strategy to really make Prime Day work for you. That means sprucing up your listing with killer images, compelling copy and snazzy A+ Content to really make your product pop, ensuring that your inventory is sufficient and optimizing your ad campaigns so they run hot 24/7 during the event. Sounds like a lot? Don’t worry, we’ve put together a comprehensive checklist that will guide you through everything you need to do to dominate Prime Day 2024.
Prime Day explained – the what, when, and why
Before we move forward with the comprehensive Prime Day checklist, it’s important to understand what Prime Day is, since when is Amazon hosting Prime Day and why does Prime Day matter?
What is Prime Day?
Prime Day is Amazon’s annual mega sale, exclusively for Prime members. It’s a global shopping extravaganza, where sellers go crazy in offering deals and shoppers go crazy in buying everything that is on deal. Prime Day is what we call a win-win for everyone – Amazon, sellers and shoppers. Amazon gets more visits on their site, sellers get more sales and shoppers get great discounts on their favorite products.
Since when is Amazon hosting Prime Day?
Amazon has been hosting Prime Day since 2015 and since then it has become a must-watch event, attracting millions of shoppers worldwide. The event was introduced to mark Amazon’s 10th anniversary and this year Amazon will be hosting its 9th Prime Day.
Why does Prime Day matter?
- During Prime Day 2015, customers actually bought more items than on Black Friday 2014
- During Prime Day 2016, small businesses and sellers on Amazon offering deals to Prime members saw orders nearly triple, year-over-year.
- During Prime Day 2017, tens of millions of customers used the Amazon App, with customer orders on the app more than doubled compared to 2016.
- During Prime Day 2018, small and medium-sized businesses selling on Amazon far exceeded $1.5 billion in sales.
- During Prime Day 2019, Prime members worldwide purchased more than 175 million items, from devices to groceries and more.
- During Prime Day 2020, independent third-party sellers—most of whom are small and medium-sized businesses—surpassed $3.5 billion in sales on Prime Day—a nearly 60% increase over Prime Day 2019, growing even more than Amazon’s retail business.
- During Prime Day 2021, customers spent over $1.9 billion on more than 70 million small business products during the Amazon-funded Spend $10, Get $10 promotion period.
- During Prime Day 2022, prime members worldwide purchased more than 100,000 items per minute during the event.
- During Prime Day 2023, Prime members purchased more than 375 million items worldwide.
Those jaw-dropping stats speak for themselves. They show how Prime Day has consistently shattered records year after year.
When is Prime Day 2024?
Amazon recently confirmed in its press release that the mega-sale will take place in July again. Prime Day 2023 was held on July 11 and 12, and previous years have always been in the second week of July. So, there’s a good chance Prime Day 2024 will fall on July 9 and 10.
Prime Day 2024 checklist for sellers
7 Weeks before Prime Day
- Analyze your past data: Review past Prime Day performance to understand what worked and what didn’t. Use this data to inform your current strategy.
- Listing makeover: Ask your Amazon content optimization experts to ensure your product listings are retail-ready. This includes optimizing images, copy, A+ Content and brand story as well as encouraging reviews, and securing the Buy Box.
- Identify bestsellers: Pinpoint your top-selling products. These will be prime candidates for discounts to attract customers.
- Stock up strategically: Use forecasting tools to determine the appropriate inventory levels to meet the expected surge in demand. Consider lead times and potential delays to avoid stockouts.
- Plan your shipping: Create a shipping plan that aligns with Amazon’s inventory processing times. This ensures smooth fulfillment and avoids hiccups.
- FBA inventory management: Address any overstock or aging FBA inventory for slow-moving items. Freeing up space allows you to accommodate the influx of new inventory for Prime Day.
- Brand registry: Enroll in Amazon’s Brand Registry program if you haven’t already. This unlocks valuable benefits like brand protection and enhanced content creation tools.
- Marketing & advertising blueprint: Analyze and define your marketing and advertising strategies. This includes identifying which channels to leverage and the messaging you want to convey.
4 Weeks before Prime Day
- Bundle up related ASINs: Create virtual product bundles that combine related products. This encourages customers to purchase more and increases your average order value. Creating bundles 4 weeks early allows you to optimize and get them ready before the D Day.
- Amazon PPC optimization: Implement your Amazon ads strategy and continuously monitor its performance. Make adjustments based on data to ensure your ads are reaching the right audience.
- Create Amazon Posts: Leverage Amazon Posts to showcase your products in a visually engaging way. This helps you stay top-of-mind with potential customers.
- Listing maintenance: Maintain vigilance by continuously monitoring your listings for any suppression issues or cases that require management.
- Keyword research & campaign planning: Start researching relevant keywords and planning your Sponsored Ads campaigns. This ensures you’re targeting the right audience during the peak sales period.
1 Week before Prime Day
- Product inserts: Consider including informative product packaging inserts with your shipments. This can be a great way to upsell or promote related products.
- Prime Day specific storefront: Create a dedicated Prime Day page within your Amazon storefront. Additionally, add a prominent deals banner on your homepage to grab attention.
- Create promotions: Create enticing coupons and share your Prime Day promotions across various channels to generate excitement.
- Targeted advertising campaigns: Develop targeted advertising campaigns specifically for Prime Day. Utilize various ad formats and platforms to reach your ideal customer base.
- Email outreach: Create engaging email marketing campaigns to inform your existing customer base about your upcoming Prime Day deals.
- Social media buzz: Pre-announce your Prime Day deals on social media platforms to build anticipation and excitement. This can spark conversations and encourage sharing.
- Final system check: Review your product listings, deals, inventory levels, and advertising campaigns. Ensure all systems are functioning smoothly and ready for launch.
- Team briefing: Brief your Amazon consultant team on their roles and responsibilities during Prime Day. Clear communication ensures everyone is prepared to handle the increased workload.
During Prime Day
- Real-time monitoring: Closely track your sales data, inventory levels, and competitor activity throughout Prime Day. This allows you to identify trends and adjust your strategies on the fly to maximize sales.
- Advertising optimization: Continuously monitor and optimize your advertising campaigns throughout Prime Day.
- Influencer marketing: Partner with relevant influencers to promote your Prime Day deals on Amazon Live.
After Prime Day
- Analyze performance: Analyze sales data and performance metrics to identify successes and areas for improvement.
- Manage inventory: Evaluate remaining inventory levels and adjust inventory management strategies accordingly.
- Plan for future events: Start planning for Black Friday and Cyber Monday based on insights gained from Prime Day.
Prime Day isn’t that intimidating when you’re prepared
Don’t let Prime Day overwhelm you! By following this checklist, you’ll be well-prepared to turn it into the most successful time of the year.
Need help creating a winning Prime Day strategy? Amazon experts at SIPRANSH ECOMMGROWTH are here to help you every step of the way. Contact us today and let’s make Prime Day unforgettable!
