It’s that time again, Amazon’s Prime day is upon us, this year falling
on the 11th of July. While you may not be officially participating
this year there’s still no reason why you shouldn’t take advantage of some of the
additional traffic.
Amazon set the bar even higher for entry into this year’s promotion with
fees of $300-$500 per deal plus a minimum of 20% discount not to mention the
inventory requirements. Let’s face it this is a high bar to clear unless you’re
a manufacture so the next best thing is to do your own promotion. What do you
need to know and what can you expect? Well for starters significantly increased
traffic this is a big annual event with a ton of ad dollars going into the
promotion. Prime day 2016 was an even bigger sales day for Amazon than the
previous year’s Black Friday sales, simply unheard of numbers especially for
the middle of summer. Want some of the crazy stats? Try two million toys, one
million pairs of shoes and nearly one hundred thousand TV’s sold in just one
day!
What you can expect is a lot of shoppers stopping in specifically to see
the deals and then throwing a few additional items not in the official prime
day promotion into the shopping cart. What is fundamental is that you cover a
few of the basics; first make sure your inventory is accurate and that
everything your selling is posted and active. Remember your fishing for
customers here and you want a nice big net to catch these fish so make sure
lots of sku’s are up and active to lure them into the net. Next ,now that they
are in give them a reason to spend some cash, give them a promotion and time it
to coincide with the sale maybe start it a day or two earlier just to be safe
and maybe give modest discounts to new inventory and go a bit deeper on a few
of the older items. Are you prepared for some extra volume? Don’t make beach
plans for the 11th and miss out or forget to restock on packing
materials and have to run around town for packing materials from your office
supply place at twice your normal price. In summary prep and stay on your A
game, it’s a great opportunity to rack up some extra sales.