Amazon Prime Day has grown into one of the biggest retail events of the year, rivaling Black Friday and Cyber Monday in terms of sales volume and customer attention. Traditionally held in July, Prime Day offers exclusive deals for Amazon Prime members, often leading to a significant surge in online shopping activity—not just on Amazon, but across the entire ecommerce landscape.
A Ripple Effect Across the Retail Industry
The annual Amazon Prime Day event has evolved over time to encompass the entire retail landscape. Customers expect sales and deals this time of year everywhere they shop. Many will use this event to kickstart their back-to-school or even early holiday shopping. Amazon competitors like eBay, Walmart, Target, and Best Buy usually launch parallel promotions to entice customers to shop from them instead of Amazon. It’s a perfect opportunity for companies other than Amazon to benefit from the work that Amazon does to promote their own sales. Ecommerce marketplaces and independent sellers across industries will usually get a boost in visibility and sales this time of year.
How to Make the Most Out of Prime Day
This is a perfect time to take advantage of the money and time that Amazon has spent to promote their sale, and boost your own business. There are six main areas that you should consider focusing on.
- Auction Listings: This is one of those times of year when customers that don’t normally shop on eBay will decide to give it a try. It’s a perfect opportunity to acquire new regular customers.
If you are running auction listings on eBay it is important to adjust your listing schedules so that they are starting or ending during the prime day period. This will take advantage of both the “newly listed” and “ending soon” sort options in eBay search.
It is always best to add a buy it now price to your auction listings. Customers that are new to eBay aren’t used to auctions and many are ready to purchase when they find the item they want. Set a reasonable, but relatively high buy it now price. Make it easy for your new customer to pay you more than you likely would have been able to get if the product had sold through bids.
- Have Enough Inventory On Hand: Just like the Holiday selling season, you should expect an increase in sales during Amazon Prime Day. Be sure that you have enough stock on hand to be able to fulfill an increase in orders, especially for your top-selling products. Take a look at your sales data from Amazon Prime Days in previous years to get a good idea of how much inventory you are likely going to need.
- Review and Fix Your Listings: Now is the time to check your listings and make any necessary corrections or changes. Be sure that you are using high-quality images, descriptive titles, detailed descriptions, and relevant keywords. While always important for conversion, this is even more important during high-traffic periods. Refresh your eBay About section and listing descriptions to tell your buyers about your business and why they should purchase from you instead of someone else. This will also benefit your business in the months that follow.
- Run Your Own Promotions: Customers are looking for sales and deals this time of year. Give them a reason to buy from you and offer your own limited time discounts or promotions. Use your social media accounts and email marketing lists to remind your existing customers about your store and entice them to spend their dollars with you instead of Amazon.
- Be Prepared For An Increase In Business: Be ready for more sales than normal. This means having whatever shipping system you use ready to go at full speed. You’ll also need to be prepared for an increase in customer contacts during and after the event. Don’t risk negative feedback because you aren’t able to ship on time or respond to questions quickly!
- Leverage Paid Advertising: This is one of those times of years where paid advertising can give you a great return. Pay-per-click campaigns and sponsored posts will increase your visibility. Think carefully about the best targeted keywords for your products and business to capitalize on the increase of active shoppers.
Amazon Prime Day isn’t just about Amazon. It has become an event that sellers across platforms can use to their advantage to increase sales. If you properly prepare using the steps above, then you’ll be in a great position for your business to benefit and grow during this time of year.
Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.
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