Amazon Prime Day 2024: everything you need to know as a seller

Amazon 07/06/2024
Amazon Prime Day has become a highly relevant event in the e-commerce calendar. Every summer, Amazon holds a day of special offers for subscribers to its Prime service, where millions of consumers look for exclusive offers and discounts, representing a unique opportunity for retailers and brands.

However, to maximize the opportunities of this date, it is essential to be well-prepared for next July 11. Below, we offer some key tips for retailers and brands to optimize their participation in Amazon Prime Day, in addition to reminding you that DIP Insights, our digital intelligence platform, helps you achieve your sales goals.

Tips to prepare for Prime Day

Although it is an exclusive event for Prime subscribers, it is not ruled out that there will be specific offers for the entire marketplace audience. In addition, many will take advantage of the free month of Prime to benefit from these discounts.

Therefore, it is important that sellers are well-prepared to give the starting signal and reach the goal as a winner. Let's go there!

1. Advance planning

Preparation for Prime Day is essential to obtain the best sales results:
  • Inventory review: Make sure you have enough stock to meet expected demand. Amazon may penalize sellers who do not fulfill orders on time.
  • Data analysis: Review sales from previous years to identify trends and popular products during that date. Use this data to plan your promotions and offers.

2. Pricing strategy on point

Price is one of the most important factors during Prime Day. Consider the following strategies:
  • Attractive discounts: Offer significant discounts that can attract buyers, but make sure they are sustainable for your profit margin.
  • Monitoring your competition: keep an eye on the price changes of your competition's similar products and adjust yours to be the best option for the buyer and get the much desired Buy Box, which is a plus for the seller, since it speeds up the acquisition process thanks to the “Add to cart” and “Buy now” buttons.

3. Marketing campaigns

To stand out from the crowd, it is essential to invest in marketing and advertising campaigns:
  • Amazon Advertising (PPC): Use Amazon Ads to promote your products. Don't forget to segment your ads so that they reach the target audience.
  • Campaigns on social networks: it is essential to be present on the social networks that your buyer persona uses, so announce your Prime Day offers to attract more customers.
  • Email marketing: Send email campaigns to your subscribers to inform them about your special offers and exclusive discounts.

4. Customer experience

A great customer experience can translate into higher sales and repeat customers:
  • Fast delivery time: Nowadays, users want everything, and they want it now, that way you make sure your products are shipped quickly. Consider using the "Fulfilled by Amazon (FBA) service to improve delivery times.
  • Customer Service: Prepare your customer service team to handle a potential increase in inquiries and orders during Prime Day.

5. Monitoring and adaptation in real time

During Prime Day, it is essential to keep an eye on trends and adapt quickly:
  • Sales Monitoring: Use analytical tools to monitor your sales performance in real time.
  • Dynamic pricing: If you notice that certain strategies aren't working, don't hesitate to make quick adjustments with pricing automation based on your business rules and competitor pricing .

6. Post-event evaluation

After Prime Day, it is important to evaluate performance and learn for future events:
  • Results analysis: Review key metrics like sales, traffic, and conversion to understand what worked and what didn't.
  • Customer Feedback: Collect and analyze customer feedback to improve your products and services. Reviews are essential here.

Everything ready to achieve your sales objectives

Participating in Amazon Prime Day can be very beneficial for retailers and brands as long as it is planned and executed properly. In fact, to simplify your work, our 360º digital intelligence tool, DIP Insights, can be of great help. With features such as automatic repricing, Digital Shelf optimization, automated alerts, review ratings and much more, DIP Insights is designed to maximize your success during this important date in the world of e-commerce.

Good luck on your Prime Day !