The countdown is on. The promotions are coming. And the time to prepare is now.
Yes — it’s that time again! After getting a later Prime Day date in 2020, Amazon Prime Day is back to its regularly scheduled cadence.
With an official announcement for the much-anticipated July date on the horizon, consumers are already starting to think about what they’ll buy. And this year, there’s bound to be a lot of Prime Day shopping.
The Amazon Prime program soared to 200 million members in 2020, which means there’s a good chance this year’s shopping event will yet again reach record numbers. To give you an idea of what that profit potential might look like, let’s take a quick look at a few stats from previous Prime Days:
- By Amazon’s fifth Prime Day in 2019, members were purchasing 75% more products than they had the previous year. Orders came in from 18 countries — double the number from the event’s 2015 debut.
- In 2020, when membership was still hovering around 142 million, Prime Day marked Amazon’s two biggest days ever for small and medium businesses. Third-party sellers surpassed $3.5 billion in sales — a nearly 60% year-over-year increase — outpacing the growth of Amazon’s own retail business.
- After fine-tuning pricing and promotion strategies, many of the most successful brands and retailers have increased their Prime Day sales as much as 100% from one year to the next.
Of course, that revenue doesn’t happen by chance. The most profitable Prime Day sellers start preparing months ahead of time. And if you want to compete for sales during this year’s event, you’ll need to do the same.
From preparing promotions to doubling up on fulfillment efforts, it’s critical to have all the right plans and processes in place. More specifically, you’ll need to:
Create a strong Amazon Advertising strategy. From A+ content to campaign budgeting, each part of your approach will need to be carefully scheduled well in advance.
Prepare pricing and promotions. Which products should you feature in Lightning Deals? How will you keep your prices competitive throughout the event? Answering these kinds of questions will help ensure you’re set up for success.
Smooth out any fulfillment wrinkles. Quick, reliable deliveries are always critical on Amazon. During Prime Day, when the orders are coming fast and furious, you truly can’t have any delays. Ironing out any kinks in your shipping and handling times is a key component of success.
So, what tangible steps can you take today to make sure you’ll be set come Prime Day? Find out in our upcoming webinar: Countdown to Prime Day 2021: Top Strategies for Fulfillment, Pricing & Advertising. You’ll get expert tips on performance-based planning, pricing strategies, fulfillment preparation and more — all of it based on the experiences of thousands of brands and retailers who have participated in Prime Day since 2015. Register now!