Amazon Prime Day is coming soon, 5 tips to help you "beat the odds"

Last year’s Amazon Prime Day was postponed to October, but it was still a historic moment for third-party sellers, whose global sales increased by 60% year-on-year, generating $3.5 billion. In addition, total global sales, including Amazon and first-party merchants, reached nearly $10 billion, a year-on-year increase of 43%.

Although Amazon has not officially announced the date for this year's Prime Day, multiple foreign media reports have suggested that this year's Prime Day will be held in mid-to-late June, which means now is the time for sellers to start preparing.

Let’s follow content marketing writer Matt Juul to see what advice he offers to sellers.

Tip 1: Update your product listings

To increase visibility and maximize conversions, brands and sellers should optimize their product listings based on the primary ASINs they plan to promote on Prime Day.

When updating your product listing, there are a few key points to keep in mind:

High-quality images: Use fresh and attractive product images that are high resolution and meet Amazon’s image standards.

Title, bullet points, and description: Use clear, concise descriptions that are moderate in length, which also helps with mobile visibility.

Key attributes: Display all the questions consumers may have about your product, including the main selling points and detailed product information.

Backend search terms: Include keywords that are relevant to your product but not used in your listing, and never repeat words.

Tip 2: Manage Inventory Strategically

For products that you want to promote on Prime Day, sellers must take the time to evaluate which inventory levels are appropriate to avoid some trouble.

Because running out of stock on popular items can impact your listing’s ranking and seller performance metrics, make sure you have enough inventory to last through Prime Day, especially if you plan on using Lightning Deals.

According to Feedvisor’s data from Prime Day 2020, several product categories saw an increase in total sales. Electronics, in particular, saw a 12% increase compared to 2019, with many of the promotion’s best-selling products falling into the electronics category.

Meanwhile, total sales of apparel, shoes, and jewelry increased 27%; grocery and gourmet food increased 23%; and home and kitchen products rose 14% compared to Prime Day 2019.

If you sell in these best-selling categories, having enough inventory to meet the increased demand will be key to your Prime Day success.

Tip 3: Optimize your pricing

With so many merchants competing for consumers’ attention, effective pricing strategies play an even bigger role on Prime Day. According to Feedvisor’s 2020 Consumer Holiday Survey, more than 76% of consumers said price is a very important factor in shopping.

Working with a repricing technology partner can also further increase returns by adjusting prices in real time based on market conditions, so that top products can be effectively kept selling at the best prices during Prime Day 2021 and beyond.

Tip 4: Bundling

Another strategy you can leverage is product bundling, which drives sales by combining multiple items from your catalog into a single deal.

Bundling is particularly effective for items that are often purchased together, making it more convenient for consumers who often buy these best-selling products together.

Sellers can also combine best-selling items with less popular products, which helps manage inventory levels.

Tip 5: Monitor your ad spend

Advertising also plays an important role in Prime Day. Sellers should make sure to develop an advertising plan for Prime Day in advance, as detailed as possible, taking into account every factor that affects profits so that budget is not wasted on poorly performing or overly costly programs.

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