It’s prime time for Prime Day— Amazon’s eCommerce extravaganza that promises Black Friday deals without the chaos of brick-and-mortar shopping. Instead, you can score steep discounts from the comfort of your own home (and cozy flannel pajamas).
Retail’s biggest sales holiday started back in 2015 as a way to celebrate Amazon’s 20th anniversary. Since then, Prime Day’s popularity has skyrocketed, winning the hearts — and wallets — of millions of frugal-minded shoppers. Even though it’s been moved from its usual July slot due to COVID-related reasons, online business owners everywhere should be able to take advantage of this year’s holiday season kickoff.
In true ShipMonk fashion, we’re here to help you optimize and maximize your sales during the most wonderful time of the year. But, before we get to the juicy stuff, let’s knock some facts out of the way.
Prime Day FAQ
Planning for huge sales events is a tad overwhelming, which is why we’ve got you covered with this short and sweet FAQ. Warning: We’ll be saying “Prime Day” a lot.
When Is Prime Day?
Prime Day 2020 will run from Tuesday, October 13 to Wednesday, October 14.
Why Is Prime Day Delayed This Year?
Short answer? The global pandemic. Long answer? The global pandemic.
How Will Prime Day Be Different This Year?
In terms of challenges, you may be looking at rapidly declining inventory levels as well as delays in shipping. Also, due to eCommerce’s insane growth (especially in recent months), you’ll be facing some fierce competition with a capital “F.”
How Will Prime Day Affect Holiday Season Sales?
With Prime Day occurring so close to the holidays, there are some logistical kinks to consider — namely, how hard you should be planning for it.
Don’t get us wrong — we want you to knock Q4 out of the park. But, and this is especially true for smaller businesses, it’s important to stay practical. If you pull out all of the stops now, you may not have enough fuel to get you through Black Friday and Cyber Monday. With that being said, Prime Day 2020 is slated to be huge, so you might prefer to cash in on the action now and opt for smooth sailing later.
At the end of the day, you should pick your eCommerce battles on a case-by-case basis. If you have enough resources to last you through this year plus a zombie apocalypse, go for it. If you sell niche products that do best in specific holidays or months, devote your marketing smarts to whatever time frame makes the most sense. No one knows your business like you do, so always use your best judgement.
Can I Participate in Prime Day Even If I Don’t Sell on Amazon?
Yes! See below. 🙂
Prime Day Best Practices
#1 Make Sure You’re Primed for Prime Day
Before you dive into the Prime Day waters, you’ll want to ensure that your sales platforms are revved up and ready to handle an influx of orders.
Here are some questions you should ask yourself:
- Do I have enough inventory? Has my inventory already been received and safely stored by my fulfillment provider? (Tip: Amazon requires inventory to be received three weeks before Prime Day.)
- Is my fulfillment provider ready to take on such a high volume? Is there an open line of communication?
- Am I ready to deal with potential delays and issues that may arise? How will I resolve them?
- What’s my marketing strategy? Do I know which major eCommerce holiday (Prime Day, Black Friday, and Cyber Monday) I want to focus on?
- Have my Amazon and non-Amazon product pages been optimized?
By failing to prepare, you’re preparing to fail. Once you get to crunch time, you’ll be glad you stuck to a solid plan of action.
#2 Offer Discounts Across All Your Sales Platforms
Amazon isn’t the only happenin’ spot for Prime Day. In fact, several retailers — such as Macy’s and Home Depot — have taken advantage of the Prime Day buzz to run exciting sales on their own websites. Our suggestion? Take a page from the book of the big dogs!
If you sell on any platform other than Amazon, try offering comparable “Prime Day” discounts to entice new and existing shoppers. Not everyone is an Amazon loyalist, but virtually everyone likes a good deal.
#3 Don’t Use Amazon-Related Keywords
If you like tip #2, we’re required to throw a disclaimer your way: Don’t use Amazon-related keywords, such as Prime Day, to advertise the sales you’re running on other platforms. Instead, use this as an opportunity to get creative and come up with your own compelling sales holiday — you can even craft it to be niche and brand-specific.
#4 Don’t Use Prime Day to Introduce New Products
The hustle and bustle of the holiday season is not exactly the right time to introduce new products, especially if they are high-ticket items. The reason behind this is a generally longer consideration cycle, which can throw a wrench in the “Buy now!” mentality most shoppers have on Prime Day. Save the big launches for later and stick to tried-and-true products or even surplus inventory you’ve been itching to get rid of.
#5 Keep the Momentum Going by Focusing on the Post-Purchase Experience
You’ve worked hard to generate leads, but now it’s time to keep them! Every budding relationship needs a little TLC, which is exactly why you should focus on building a stellar post-purchase experience to boost customer loyalty, engagement, and retention. Think long-term, not short-term!
Prime Day is an excellent opportunity to hit sales home runs, and we wish you the best start possible to 2020’s holiday season. Keep an eye out for our articles in the upcoming weeks, as we’ll be taking you through what you need to know to make a Q4 killing.
Questions? Feedback? Let’s talk! Shoot us a line here.