Amazon Prime Day is the most significant event conducted by Amazon. Last year, due to the Covid, this huge event was shifted to October. However, the event was a huge successful despite everything that happened, This year around as well, it is expected to be bigger and better – something all Amazon sellers are looking forward to!
Amazon reveals the date only a few days before the event occurs, but it usually takes place in the month of July. It is the most exciting event that gives neck and neck competition to Black Friday and Cyber Monday. Millions of products are shipped on Prime Day. Moreover, Amazon Prime Day provides many opportunities to new sellers to increase their sales and profit margin while staying competitive in the market.
What is an Amazon Prime Day?
Amazon Prime Day is considered the most popular event in the history of Amazon that takes place in the month of July. It was launched in 2015, which provides plenty of new opportunities to sellers and helps them to grow and get more sales.
It is a 48-hours event that occurs in 19 countries that include the USA, UK, UAE, Singapore, Spain, Mexico, Turkey, China, and many more!
Prime Day is a huge win for Amazon sellers!
According to a statistic, 60% of customers plan to shop on Amazon Prime Day, and 44% of customers who buy products on Prime Day have Prime membership (Source: spendmenot). In this chart, you can see how the growth has been increasing from 2015 to 2020. Last year, Amazon Prime Day crossed a whooping sales of $10.4 billion worldwide (source: Amazon.com). In this way, it broke many unbreakable records, making it the most profitable event in Amazon’s history.
How can Sellers make the most of Amazon Prime Day 2021?
Selling on Prime Day can be highly profitable for you. Besides this, it is also necessary to note down the risk factors because you are not the only one selling here. Thousands of other sellers may have better and efficient strategies!
“Amazon’s 2020 Prime Day was the biggest sales event ever for the company” – Business Insider
· Use Amazon sponsored product ads
Sponsored ads help the sellers to stay competitive and make more sales in the Amazon marketplace. By utilizing accurate keywords, automatic targeting for your sponsored ads, you can make your business highly profitable and successful.
Running ads on a Prime Day can help you stay ahead and can bring a good profit margin for your business. The competition becomes too severe on a Prime Day, so it is important to differentiate yourself from other competitors.
· Offer Amazing deals
If you want to achieve a good seller’s ranking or increase your sales, consider giving in various products at affordable and discounted prices. Amazon will have massive deals out there so, before offering deals to customers, always make sure to research well and put your best foot forward.
You can offer Amazon coupons to grab the attention of buyers and to make their purchases more manageable. Moreover, on Prime Day, you can also provide lightning deals to maximize your sales. Although it is available for a limited time, it plays a vital role in increasing your profit!
· Know your competitors
It is important to know your competitors’ strategies and the techniques they follow to gain sales on a prime day. Identify your competitors that are selling similar items as you to help yourself grow and stay ahead.
Know the differences and make changes to your listings accordingly to bring more traffic to your website. Always keep a check on the brands with high search volume that sell similar products like yours. Make sure to add quality images, work on your advertising and promotion strategies to stay competitive.
· Set the pricing of your products accordingly!
Pricing is one of the essential factors to maximize your sales on a Prime Day. If you want to stay on top by beating other competitors in the market, then use automated repricing for your products. Use high-quality repricing software to set your prices accordingly.
Any repricing tool that you prefer must be fast, instant, and affordable. Try Alpha Repricer. It is the fastest Amazon repricer that reprices your items and helps you stay competitive 24/7.
· Make the most of this Day!
As an Amazon seller, you must show your creativity because you can get lost in the sea of competitors if you fail to do so. Advertise your products in a better and efficient way to attract customers. Offer deals on discounted prices to divert the attention of customers towards your brand.
Offer better deals and let your buyers know you have a lot to offer. Be creative to help your products stand out, or else getting the Buy Box or increasing your seller’s ranking can be difficult.
What sellers should expect on Amazon Prime Day 2021?
Every year Prime Day brings new opportunities for sellers and helps them to increase their profit by gaining the trust of customers. let’s have a look at what Amazon Prime Day 2021 will bring for sellers.
· More Customers
With more than millions of deals available on Prime Day, no consumer can miss the chance of buying products at discounted prices. Last year 39% of the US consumers were interested in shopping on Prime Day, while 33% of buyers said they might participate in this event (Source: adbedger.com). Furthermore, 73% of buyers were interested in purchasing products at the lowest price on prime Day (Source: adbadger.com).
Sellers who come up with Amazing deals at discounted prices grab the attention of customers. On Prime Day, 2021, sellers are expecting more customers that can help them to maximize their sales.
· Skyrocket sales!
According to the report, Prime Day increases sellers’ revenue by 52% (Source: Junglescout). In 2021, by providing your customers with a positive email experience and incredible deals at discounted prices, you will see a significant lift in your Prime Day sales numbers.
Moreover, you can also offer lightning deals and Amazon coupons on Prime Day to build your customer’s trust and get more sales!
“As per Amazon, small businesses exceeded $3.5 billion in sales, a 60% increase from last year” – Business Insider
· Branding and Promotion of products
Amazon Prime Day can help sellers promote and position their products in an exclusive and shopping-friendly environment. It creates opportunities for sellers to build their brand and create brand loyalty.
Buyers are committed to shopping on Prime Day 2021. When other competitors are on shaky ground with their consumers, you can always make efforts to attract more customers by bringing new and unique products on Amazon Prime Day!
Is Amazon Prime Day worth it for sellers?
Yes, Amazon Prime Day is worth the hype. It helps you increase your sales by leaps and bounds. Moreover, it allows sellers to promote and position their brand in the minds of targeted customers. Amazon Prime Day is proven to be the most profitable event in the history of Amazon.
In Prime Day 2020, some products ranked as top sellers, such as the Amazon Fire TV stick, for which almost 334800 purchases were made. Other items with high sales include the Echo Dot, Amazon e-gift cards, and many more! (Source: Spendmenot)
Prime Day has beaten other significant events like Cyber Monday or Black Friday. Furthermore, it plays a crucial role in increasing the overall revenue of Amazon.
Prime Day offers multiple deals at discounted and low prices. In 2021, you can bring new and attractive products to attract customers and maximize your profit margin in the market. However, it is necessary to keep an eye on your competitors to maximize your sales.
Pricing is an essential element to help you stay ahead. Use accurate repricing software to reprice your products. Choose Alpha Repricer. The fastest Amazon repricer that makes your selling experience better and allows you to increase your seller’s ranking by winning the Buy Box.