Amazon Prime Day has gained a reputation as one of the most significant sales events of the year. Customers eagerly anticipate discounts and the chance to discover new products at heavily reduced prices. However, many new sellers are unaware of how to effectively prepare their businesses for this major sales day. In this blog, we will provide you with essential tips and strategies to gear up for Amazon Prime Day 2023.
What is Amazon Prime Day?
Amazon Prime Day is an exclusive annual sales event for Amazon Prime members. Traditionally held in mid-July, the event spans 48 hours and offers a wide range of deals and discounts across various categories, including electronics, home and kitchen, fashion, beauty, and more. Amazon Prime Day has become one of the most significant shopping events globally, offering tremendous opportunities for sellers to boost their sales and reach millions of potential customers.
When does Prime Day start?
Based on past patterns, we can anticipate that Prime Day 2023 will likely take place in mid-July. If you haven’t set up deals specifically for Prime Day in Seller Central yet, you may have missed the deadline, which was on April 28, 2023. However, there is still time to prepare for the event, so it’s crucial to start now to maximize your chances of success.
Tips for Sellers to Prepare for Prime Day 2023:
Review Past Performance and Set Goals
Before diving into Prime Day preparations, it’s essential for sellers to evaluate their past performance on Amazon. Analyze your sales data, identify the strengths and weaknesses of your product offerings, and pinpoint areas for improvement. This assessment will help you set realistic goals for Prime Day and create a benchmark for measuring success.
Optimize Product Listings
To stand out among millions of products on Amazon, it is crucial to optimize your product listings. Conduct thorough keyword research to identify relevant, high-performing keywords that resonate with your target audience. Optimize your titles, bullet points, descriptions, and backend search terms using these keywords to increase your visibility in search results.
Stock Up and Manage Inventory
Prime Day brings a surge in demand, and the last thing you want is to run out of stock during the event. Utilize Amazon’s inventory management tools to monitor stock levels and set up alerts to reorder inventory when necessary. Begin ordering inventory now to ensure it arrives in time for Prime Day. Initiate discussions with your suppliers to ensure timely delivery. Amazon advises sellers to have their inventory arrive at US fulfillment centers by June 15, 2023. It’s also crucial to monitor your FBA capacity limits to avoid ordering excessive inventory.
Offer customers multiple ways to save
To attract customers during Prime Day, consider creating Amazon Prime Day deals, discounts, and promotions for your listings. Offer discounts exclusively to Amazon Prime customers. Use coupons to showcase discounted prices prominently on your product detail page, allowing customers to spot and redeem the offers easily. You can also generate custom social media promo codes or collaborate with influencers to drive additional traffic.
Use Advertising Opportunities
Amazon’s advertising tools, such as Sponsored Products, Sponsored Brands, and Amazon DSP, can significantly boost your product visibility and sales during Prime Day. Allocate a budget specifically for advertising and create targeted campaigns to reach your ideal audience. Experiment with different ad formats and optimize your campaigns based on performance data.
Create FBM offers if you do not have enough FBA inventory
If your FBA inventory capacity limits are insufficient or you won’t have enough time to ship inventory to FBA, consider creating Fulfilled by Merchant (FBM) offers on your listings. This allows you to fulfill orders on your own or through a third-party fulfillment center. You can offer both FBA and FBM fulfillment methods under one ASIN.
Prepare for Increased Customer Service
You can expect an influx of customer inquiries and order-related issues during Prime Day. Ensure your customer service team is adequately staffed and trained to handle the anticipated increase in customer inquiries promptly. Respond promptly to customer messages, reviews, and feedback, demonstrating your commitment to customer satisfaction.
Amazon Prime Day 2023 presents a fantastic opportunity for sellers to boost their sales and expand their customer base. By following these tips and strategies, you’ll be well-prepared to make the most of this major sales event. Additionally, engage your customers and create a memorable shopping experience to build long-term relationships. Prime Day is your time to shine, so get ready to take your business to new heights.