Mark your calendar! Amazon Prime Day 2024 is coming in July. This yearly event is a great opportunity for businesses to not only boost sales in 48 hours, but also to increase their brand awareness among Amazon customers.
Millions of shoppers are already preparing for Day, and so is Amazon. That tells us one sure thing: it’s time for Prime sellers to prepare and make the most of Amazon’s landmark event!
As with any other deal, you need to have the right systems in place to make the most out of it. If you want to sell and have a meaningful impact during Amazon Prime days, you need to prepare your best deals and have the right strategies in place.
Prepared brands will get higher sales rankings because primer members shop more than non-subscribers. And of course, both brands and members can reap the benefits of Prime Day.
So, do you want to outsell the competition and set a new sales record for yourself? Then, you need to prepare your best deals and craft the ideal storefront to make the most of Amazon Prime Day 2024.
What is Amazon Prime Day?
Amazon Prime Day is a two-day online event that focuses on delighting Prime members. It first appeared back in July 2015 as Amazon’s way of celebrating its 20th anniversary with a day-long shopping spree. Now, Prime Day is among the biggest shopping days of the year, right along Black Friday and Cyber Monday.
Amazon Prime Day is a two-day online event that first appeared back in July 2015 as Amazon’s way of celebrating its 20th anniversary. The main objective of this event is to give prime members special discounts and benefits.
Since then, Prime Day has become a tradition and a highly anticipated event for both Amazon sellers and customers. During this 48-hour sale, Prime members enjoy unique discounts and 2-day delivery with their orders.
Here’s a quick rundown of Prime Day throughout the years:
- 2015. Amazon sold 34.4 million items, and sellers worldwide increased sales by 300%.
- 2016. Third-party sellers tripled orders, and global sales were 60% higher than in 2015.
- 2017. Products sold 50% more than in 2016 and Prime Day got extended to 30 hours.
- 2018. Prime Day lasted 36 hours. Members purchased over $100 million products worldwide
- 2019. Third-party sellers generated over $2 billion from sales. Plus, Prime Day became a two-day celebration.
- 2020. Prime Day got delayed until October due to the COVID-19 pandemic. However, sales still surpassed $3.5 billion across 19 countries.
- 2021. Amazon Prime Day registered almost $11.2 billion in sales, according to JungleScout.
- 2022. Amazon decided to celebrate a Prime Fall Event in October.
- 2023. Prime Day sales reached an estimated $12 billion worldwide.
When is Amazon Prime Day 2024?
Amazon Prime Day 2024 is set for July 16 and 17. As a seller you should be preparing your promos and deals to be ready before even July begins. You should also start pushing with some targeted marketing strategies in early June.
Prime subscribers will have access to exclusive deals from different brands across Amazon. There’s no code or affiliate link required; members only need to log into their accounts to enjoy exclusive deals.
Amazon Prime members will be waiting for Amazon Prime Day with strong expectations, but sellers should be doing that too. The marketplaces will be crowded with engaging users ready to jump on good deals.
Any subscriber who has their attention on your products will expect a promising deal. So, it’s time to give them the chance to push the “Add to cart” button. But how can sellers encourage them to do that? Let’s talk about how brands can get ready for Amazon Prime Day 2024.
Who can access Prime Day deals?
Prime Day offers huge opportunities for growth. During this 48-hour sale, Prime members enjoy unique discounts and 2-day delivery with their orders.
This also means that Amazon sellers have an increased amount of enthusiastic sellers ready to buy from them. Sounds like something worth taking advantage of, right?
Prime Day discounts are accessible to Prime members in Austria, Australia, Belgium, Brazil, Canada, China, France, Germany, Italy, Japan, Luxembourg, Mexico, the Netherlands, Portugal, Singapore, Spain, the UK, and the U.S. Amazon Prime Day 2024 will also make it’s debut in Poland and Sweden.
So, if your target audience is from any of these countries, you should be paying special attention to the Amazon event of the year.
Related content: Amazon Holiday Calendar
Getting Ready for Amazon Prime Day 2024
Amazon Prime Day can be your opportunity to shine, but that will depend on how you approach it. You have to tell customers about your brand and products. But how can sellers encourage them to do that?
Let’s talk about how brands can be as ready as possible for Amazon Prime Day 2024.
Learn from Past Amazon Prime Day Sales
When preparing the best strategy, nothing works as well as relying on facts.
Look for the most successful deals from previous Amazon Prime Days. Try to understand why they worked and how they were crafted.
Keep track of sellers within your industry or product category who have had substantial success on previous Prime Days – as they are clearly getting something right!
Then, make a list of common factors among those successful deals, and use the data to improve your own sales.
Trending Product Research
Do some research on trending products before Amazon Prime Day 2024 begins. Otherwise, you will miss out on stocking the products that will sell well.
Many websites are affiliated with Amazon through the Associates program, looking for products with good promotional prices for special events.
It’s wise to look at those websites that promote special day pages, such as All The Stuff. Check out their range of product reviews, and if your product is a good match for the site, they might even include your offer.
Monitor Competitors and Adjust Pricing Strategically
Keep an eye on your competitors’ pricing and promotional activities leading up to Prime Day. If you notice similar products being offered at lower prices, consider adjusting your pricing strategy accordingly to stay competitive.
You may also want to explore dynamic pricing tools that can automatically adjust your prices. Balancing competitive pricing with maintaining profitability is crucial for maximizing sales and staying ahead of the competition during Prime Day.
Get Some Extra Stock
Select the products you want to sell. Then, make sure you are fully stocked at the fulfillment center. Prime Day typically sees a significant spike in sales, so it’s crucial to have enough inventory to meet demand.
Review your sales data from previous Prime Days or similar events to understand how much stock you’ll need. Consider factors like product popularity, seasonality, and any new releases or promotions you plan to run.
Once you have a clear idea of your inventory needs, work closely with your suppliers and logistics partners to make sure you have enough products to fulfill orders in time without leaving any customers waiting. Running out of stuck will certainly hurt your sales and Amazon ranking.
Also, try to sort out any unsold products. So, track your inventory regularly to sort out the unsold products that you can sell at a high price after Prime Day.
Listing Optimization
Product listings are your opportunity to tell buyers why your product and not another one, so you need to use them to the best of your abilities.
To maximize your sales potential, it’s crucial to optimize your product listings. This involves:
- High-quality images. Customers rely heavily on visuals when making purchasing decisions. So, featuring clear and attractive images can make all the difference.
- Detailed title and descriptions. Highlighting key features and benefits can help potential customers understand the value of your product and make an informed decision.
- Targeted Keywords. Include relevant search terms in the title, backend and bullet points. This will boost your Amazon search ranking.
- Enhanced Content. Create detailed storefronts and A+ Content to keep the customer’s attention.
You must rank high to make great sales. Make use of SEO tools to boost your products visibility. By doing so, your products will have a better chance of appearing in relevant Amazon search results, increasing your visibility.
Deals & Discounts
Shoppers love great deals. Strive to create discounts and deals for customers on Prime Day. Review the best tools for your brand and give the best value you can.
Here are a few promotion tools you can use:
- Prime Exclusive Discounts. These items display the “Prime Day Deals” badge. They are unique offers for Prime Subscribers.
- Prime Member Promos. Products featured on “Amazon Prime Day” and “Today’s Deals”, during Prime Day.
- Coupons. Create vouchers so customers get a discount at checkout. Coupons show as bright orange tags next to the listing price.
- Lighting Deals. Discounts available for a few hours as flash sales on Amazon Deals. The marketplace can suggest the best products to place on Lighting Deals.
- Prime Early Access Deals. These are deals visible to Prime members half hour before Prime Day goes live.
Using these promotions can increase your product’s visibility on Amazon’s deals page while catching the attention of those buyers looking for the best deal.
If you plan your Lightning Deals and coupon offers strategically to coincide with peak shopping times during Prime Day, this will maximize their impact on your sales.
Promotion & Advertising
Make your presence known. Effective promotion tools will place you right in front of Amazon Prime members.
To get the most of your marketing during Prime Day, you need to use the right strategies. For example, use sponsored campaigns to boost product visibility.There are three options to consider:
- Sponsored Products. Cost-Per-Click ads visible on product pages and in search results
- Sponsored Brands. Highlights three product offerings
- Sponsored Display Ads. Advertise your catalog on several channels, at the same time
Also, optimize your Pay-Per-Click ads. Take advantage of the most relevant keywords to target your audience and boost your ranking.
Consider selling products at lowest prices for promotional purposes. But make sure the discount price is proportionate to your product’s context. Consider your Amazon profit margin whenever you run any promotional campaign.
Launch your best offers
Crafting the best offers requires a strategic approach that focuses on creating value for customers. Here are a few strategies to consider:
- Create bundle deals that combine complementary products and provide greater value for money.
- Offer free gifts with a purchase. For example, samples of related products or limited-edition items. This can incentivize customers to buy, while also creating a positive impression of your brand.
- Entice sales with deeper discounts for higher quantity orders. This can encourage customers to buy in bulk and increase your overall sales volume.
To make your offers even more compelling, highlight your products’ unique features or benefits. For example, sustainability, durability, or customization options. This tactic can set your deals apart from the competition.
Anticipate Fulfillment Challenges
We don’t like to be negative, but fulfillment and shipping challenges can happen, so it is better to be prepared for it.
- Make sure your inventory is properly organized and labeled for efficient picking and packing processes.
- Consider hiring additional staff or outsourcing fulfillment tasks to 3PL providers to handle the workload.
- Prioritize fast and reliable shipping methods to meet Amazon’s delivery expectations.
It’s advisable to plan to use Fulfilled By Merchant and make a list for other marketplaces you can sell on. You can also use non-Amazon marketing like Google campaigns, sponsored products on Walmart, and sponsored placements in DealNews.
Check Your Return Policy
Returns are quite common during Prime Day because of the holiday frenzy. Be prepared and take some time to revise your return and refund policy. If you extend your policy during Prime Day, make sure your consumers are well aware of it.
Get the Word Out
Prime Day is just for people with Amazon Prime, so it’s a good idea to focus on them in your ads. Show them why it’s worth shopping with you, like fast shipping and special deals.
You can use Amazon’s ads to reach Prime members and let them know about your stuff. Prime members already love shopping on Amazon, so they’ll be excited to see what you have to offer.
Start telling people about your Prime Day deals ahead of time. Show them sneak peeks and special offers to get them excited.
Building up excitement before Amazon Prime Day 2024 can get people eager to see what you have in store and ready to shop as soon as the deals start rolling in. The more people know, the more likely they’ll come shop with you on Prime Day.
Social Media
Give a boost to your Prime Day deals via your social media content. Social media also helps improve opinions on brands and products. And make no mistake, brand loyalty is always at stake, since consumers value quality care.
Capture your clients interests with posts, stories, and short videos. Compelling social media posts can tell customers what your products are about.
These platforms are great for showcase products. For example, you can use Instagram Stories to create engagement and grow awareness about Prime deals.
Also, you can use Facebook groups to provide insider info: discount sales, giveaways, new launches, and more.
Seller Fulfilled Prime
Amazon FBA sellers enjoy automatic access to Amazon Prime. These brands have access to Amazon’s logistics machine, so they’ll have little problem fulfilling customer’s expectations on service and deliveries. If that’s not the case for you, the yo should consider Seller Fulfilled Prime (SFP).
SFP allows third-party sellers to offer Prime shipping benefits to customers directly from their own fulfillment centers.
Unlike Amazon FBA, Seller Fulfilled Prime enables sellers to manage their own inventory and shipping processes, while still providing the fast and reliable shipping that Prime members expect.
By being part of SFP, sellers can offer Prime shipping on their Prime Day deals, making their products more attractive to customers.
This competitive advantage can help you stand out from other sellers and drive more sales during the event but also provide a nice service that keeps customers happy.
How to Enroll in Seller Fulfilled Prime
Seller Fulfilled Prime sets very strict criteria for aspiring sellers.
Before entering the 30-day trial, make sure you are eligible for Premium Shipping. You must have a 92% on-time order delivery rate; a 94% valid tracking ID. Plus, your cancelation rate must be below 1.5%.
Also make sure you have enough stock to fulfill prime orders, and select the best Amazon-approved shipping ally for you.
Once in the SFP trial, you must meet the following requisites:
- Two-day delivery commitment
- National delivery coverage for standard-size items
- Weekend pickups and shipping
- Let Amazon handle customer service
- 99% on-time distribution track record
- Cancellation rate below 0.5%
It takes 200 Prime orders to pass the SFP trial. If you succeed, you’ll be able to showcase the Prime Badge and enjoy all Amazon Prime benefits for sellers.
Final Thoughts
Get ready for July! Amazon Prime Day 2024 is set to be another huge event for both shoppers and sellers. With the continued growth of ecommerce, Prime Day offers a great opportunity to drive sales and attract new customers.
Events like Prime Day offer great opportunities for sellers, but they also mean there’ll be competition. That doesn’t mean you have to give up. All you need to do is know your audience well enough to stand out from the competition.
And take note of the tips above! Optimizing your product listings, offer competitive prices, and use Amazon’s various marketing tools. By taking a thoughtful approach to crafting your offers, you can create value and stand out from the competition.
Take all your data and turn any generic advice into something that will work for your specific product and ideal buyer. If there’s something that always works for you, Amazon Prime Day is the opportunity to do it better than ever before.
Organization is key to your success. Select your products carefully, so you can secure niche sales. The key is to make the most of Prime Day from day one. And keep customers in mind! You know what they need.
That’s what makes the program so successful: it is all about the buyer. If you invest in the customer, they’ll invest in you. Keep that in mind and you’ll be set to storm Amazon Prime Day 2024.
Author
Antonella Fleitas is a freelance content writer from Argentina. Antonella worked with many projects to create fact-based, evergreen content about science, language learning, and culture. Her main goal is to build a strong content foundation for her clients, based on meaningful stories that people can learn from.
Esteban Muñoz is a content writer with several years’ experience in digital marketing and ecommerce. He’s been able to achieve incredible growth for his associates by optimizing and managing their accounts, and creating in-depth content marketing strategies.
