Amazon's annual Prime Day sale is back on July 16th and 17th, 2024, the company announced yesterday. This two-day event offers exclusive deals and discounts to Amazon Prime members on millions of products across various categories.
Early Deals: Prime members can access some deals even before the official Prime Day kicks off. These early deals are a great way to get a head start on your shopping.
Millions of Deals: Expect a vast selection of discounted items across categories like home goods, fashion, beauty, electronics, and more. Some of the top-selling items in previous years include Fire TV Sticks, beauty products like LANEIGE Lip Glowy Balm and Apple AirPods, and appliances like Bissell Little Green Portable Deep Cleaners.
Invite-Only Deals: This year, Prime members can request invitations for exclusive deals on high-demand products likely to sell out quickly. Examples include discounts on Sony Wireless Headphones and Peloton equipment.
Focus on Back-to-School and Off-to-College Shopping: Prime Day caters to students with special shopping guides, convenient filtering options, and deals on school supplies, dorm essentials, and trendy decor. Young adults and college students can also take advantage of discounted Prime Student memberships.
Fast and Convenient Delivery: Prime members enjoy the benefit of fast and free delivery on millions of items, with options like same-day delivery available in select areas.
How to Prepare as a consumer
Sign Up for Prime (if you haven't already): A Prime membership is required to access all the deals and benefits of Prime Day. You can sign up for a monthly or annual membership, or start a free 30-day trial if eligible. Discounted memberships are available for students and qualifying government assistance recipients.
Download the Amazon Shopping App: The app allows you to create deal alerts, track your wishlist and saved items for price drops, and conveniently shop on the go.
Set Up Deal Alerts: Personalize your Prime Day experience by setting up deal notifications for products you're interested in. This way, you'll be alerted when items on your wishlist or recently viewed products go on sale.
Explore Invite-Only Deals: Request invitations for the most popular deals to increase your chances of snagging them before they sell out.
Leverage Alexa: Use Alexa to track deals on items in your wishlist, cart, or saved for later list. Alexa will notify you when a deal becomes available on a product you're interested in.
Prime Day is a major shopping event not only for Amazon but also for independent sellers on the platform. In 2023, Prime Day was the biggest sales day ever for Amazon and the biggest Prime Day ever for independent sellers. It's a great opportunity to save on a wide variety of products while supporting small and medium-sized businesses.
Prime Day's Impact on Advertisers and Retailers on Amazon
Prime Day is a crucial sales period for advertisers and retailers on Amazon. The massive influx of deal-hungry shoppers creates a prime opportunity to reach a wider audience and boost sales. Here's how:
Increased Advertising Spend: Advertising expenditure on Amazon tends to surge around Prime Day. This is understandable, as advertisers compete for consumer attention amidst a sea of discounted products. Platforms like Google and Facebook may also see a rise in ad spend from retailers aiming to capture shoppers researching deals beyond the Amazon ecosystem.
Strategic Ad Targeting: Savvy advertisers leverage Prime Day by employing targeted advertising strategies. This might involve retargeting previous customers, creating targeted campaigns based on user interests and past purchases, or capitalizing on trending search terms related to Prime Day deals.
Boost for Seller Fulfilled Prime: Prime Day can be a significant sales driver for retailers utilizing Amazon's Seller Fulfilled Prime (SFP) program. SFP allows qualified sellers to offer Prime members the benefits of fast and free delivery, potentially increasing their product visibility and competitiveness during the sales event. However, SFP sellers must ensure they have adequate stock and efficient fulfillment processes to handle the surge in orders.
In conclusion, Prime Day presents a golden opportunity for advertisers and retailers on Amazon to reach a massive audience and generate significant sales. By employing strategic advertising tactics and ensuring a smooth fulfillment process, businesses can capitalize on this major shopping event and achieve their Prime Day sales goals.