Amazon Prime Day 2023 is just around the corner, promising a bonanza of exclusive deals, discounts, and offers for the shopping community. The much-anticipated event is set to run on July 11th and 12th, historically marking the biggest single-day sales for Amazon sellers.
To thrive amidst the Prime Day frenzy, sellers need to prepare thoroughly. Here are five key aspects to address in the lead-up to Prime Day:
1. Stock Up: Ensure that you have enough stock. If not, replenish your inventory as soon as possible to avoid missing out on this golden selling opportunity.
2. Stay Alert: With the stakes so high, some competitors might resort to sabotaging tactics. Keep an eye on your listings and reviews daily to stay ahead of any suspicious activity.
3. Plan PPC Budgets: Prime Day PPC budgets can run dry quickly. Formulate a plan to optimize your ad spending and attain your desired sales targets.
4. Staff Appropriately: Monitor your account closely throughout Prime Day. Swift action can often mean the difference between a good sale and a great one.
5. Participate Actively: Are you planning a lightning deal? Coupons? Promotions? Shoppers are on the hunt for a bargain during Prime Day. Don’t miss out on the action.
Fascinating Statistics from Prime Days Past
A look at Prime Day data from previous years offers valuable insights:
– A staggering 75% of shoppers are likely to buy a product during Prime Week that they discovered in the lead-up. This reveals how shoppers use this time to curate their shopping lists.
– Prime Day’s bestsellers usually fall under shopping categories that experience the most inflation.
– Amazon’s appeal is widespread; a survey revealed that 64% of consumers planned to shop on Amazon during Prime Day. Interestingly, this demographic comprised 8% frequent online shoppers and 56% occasional ones.
– The last Prime Day was the “biggest ever” for Amazon. In 2022, the two-day event raked in close to $12 billion, a massive jump from 2021’s $11 billion. This resulted in over $1.7 billion in savings for Prime members and a whopping 141% surge in online sales.
– The biggest discounts were in product categories like toys, apparel, and electronics, with price cuts ranging between 8% to 15%.
– Affordable items were in high demand during Prime Day 2022. A majority of items on Amazon (58%) cost less than $20, while a minuscule 5% were sold for over $100.
– Top-selling categories included household essentials, health and beauty products, and consumer electronics.
– The average price of items sold during Prime Day was $33.58.
– Brands offering discounts and deals enjoyed a 5.2x surge in their sales and attracted more new customers. In comparison, brands without discounts still made sales but only achieved a fifth of what brands with discounts did.
As Amazon Prime Day 2023 approaches, use these insights and strategies to prepare and make the most out of this global shopping extravaganza. Happy selling!