28 Sep Amazon Prime Day 2020 Announced! How Amazon Sellers Can Prepare for It?
Prime Day is considered the second-largest day after the Black Friday and Cyber Monday that boost shopping activities throughout the Amazon Marketplaces. Most people consider that it is only useful for the buyers of Amazon Prime but the fact is that anyone who wants to buy something can take advantage of this exclusive shopping day. Due to the COVID-19 pandemic, all these events have been postponed many times but now it is confirmed that the prime day is going to be in mid October!
Prime day represents one of the most active competitive sales days and this day is beneficial for both Amazon sellers as well as for buyers. This day can get a lot of profit to the Amazon sellers but if you are a beginner and don’t have enough experience then you may need to research & plan in advance to get the maximum benefit from it. It is a bit harder and you have to prepare for it as you will have to compete with the millions of sellers who are aiming to get the maximum from it.
What is Prime Day?
Prime day was launched by Amazon for the first time on the 15th of July, 2015 at its 20th anniversary celebration. It was a great gift for both sellers and buyers. In 2015, the Prime day was a one-day retail holiday for the prime members of Amazon. After the launch of Prime day, it has become the biggest shopping event replacing the Black Friday and Cyber Monday on Amazon. Prime day offers thousands of products in all categories and you can avail each and everything on the best deals.
Every new year comes with an increase in sales as compared to the previous year. In 2019 more than 89 million buyers visited the Amazon on Prime day and amazingly more than 100 million products were sold. Prime day brings more profits as the sellers have to compete only with the Amazon sellers instead of all retailers like on Black Friday and Cyber Monday.
When is the Amazon Prime Day 2020?
Amazon Prime day for 2020 is scheduled to kicks off at midnight PT on Tuesday, October 13 and runs through Wednesday, October 14.
Who all can avail Prime Day Deals & Promotions?
Deals, Promotions & Discounts can be availed by prime members in the U.S., U.K, U.A.E, Spain, Singapore, Netherlands, Mexico, Luxembourg, Japan, Italy, Germany, France, China, Canada, Belgium, Austria, Australia, and for the first time this year – Turkey and Brazil
How much Sales Boost can Amazon Sellers Expect on Prime Day?
Talking about the sales boost during the previous Prime Day, this fact will be enough that the sales on the previous Prime day were more as compared to the Black Friday and Cyber Monday. Prime day of 2019 was the best-selling day in the history of Amazon and it is expected that this year will bring much more than that!
According to Adobe Analytics, the transactions on the prime day were tracked on 80 of the top 100 online retailers in the United States. The brands that show annual sales of more than 1 billion dollars have a boost in sales up to 68% on the 2019 Prime day. Prime day brought new prime members more than ever before. Alexa devices, Fire tablets, and Kindle showed a record sale on that Prime day. Millions of products were shipped on a single day. According to Adobe, it is estimated that the Amazon sellers earned a profit of more than 2 billion dollars on the Prime day of 2019, which was a huge milestone in the history of Amazon.
The Black Friday and Cyber Monday is going to happen in November and the statistics show that why Amazon has put its Prime day in October to hit another major milestone. Amazon is also offering a great promotional credit to prime members for purchasing from small business. Amazon will credit you $10 on Prime day on spending $10 with small businesses.
Preparing for the Prime Day 2020
As the date is not too far, it is necessary for the Amazon sellers to get themselves prepared for this mega event. There are some tips that are necessary to be considered before the Prime day.
Make sure you have Enough Inventory
The worst thing that can happen with an Amazon seller is running out of the stock. Double-check and make sure that your inventory is up to the level for the mega shopping event. There are no predictions about the increase in demand, the demands may increase many folds than the previous year. You should have enough inventory so that you can take full advantage of these profitable days.
Advertising & Marketing
With the increase in buyers, the sellers have to take extra steps to make their product stand out from the crowd and reach the buyers. As the number of searches for each keyword will be increased to many folds, sellers should have to consider marketing strategies to boost their sales.
- Advertise your products before and on Prime day with a big advertising budget.
- Research well and put the best converting keywords for your products to increase your chances of reaching the buyers.
- Don’t only stick to Amazon, sellers should advertise their products and listings on the other well-known platforms as well to get the maximum benefit.
Optimize Listings to Maximize Sales
After the inventory management, marketing, and advertising, this is the best time to focus on your product listings and make them perfect. Put a lot of effort to upgrade your listings and to improvise them accordingly. Look for the pricing and catalog and check properly if you can do anything to boost your conversion rate. Make sure that your product listings have the best suitable prices to convert every click into a sale.
Improvise your Order Fulfillment Scenario
Prime day will be a busy day and the sellers can’t fulfill all their orders just by themselves. Don’t commit such a type of mistake and prepare yourself to get your order fulfilled quickly and efficiently. Hire extra workers and make sure that you can handle and fulfill orders even if they are thousands in numbers.
Due to the COVID-19 pandemic, this event took a long time to come. According to the experts, this Prime Day will be much busier as compared to previous years. Keep the above-mentioned tips in mind because if you let this event miss out from your hand, it will be a great loss. With the right research and effective planning, you can easily get the most from this mega shopping event. Start working from now and take a look at all aspects of your business to make it ready for the day. Work smartly, follow a plan.
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