Recently, Amazon announced that the 10th Prime Day will be held from July 16 to 17, covering more than 20 countries, including the United States, the United Kingdom, Australia, Germany and France. Prime Day is undoubtedly one of the best sales opportunities for Amazon sellers.
During Prime Day in 2023, Amazon Prime members purchased more than 375 million goods worldwide, and set the record of highest daily sales in Amazon's history on the first day of the event.
Polarized expectations
For Prime Day, domestic sellers almost hold two completely opposite attitudes. Some people believe that this is the best time to promote, and there will be a boom in both traffic and sales. However, some people believe that under the general trend of price involution, sellers are likely to fall into the dilemma of losing money and earning money.
However, no matter whether the expectations are ideal or not, most sellers will still choose to participate in Prime Day. Otherwise, during the event, when the traffic is skewed, sellers who do not participate in the event are likely to face a sharp decline in ranking traffic. In this case, what should the seller do to make good use of Prime Day's traffic and avoid excessive losses?
Precision inventory management
Analysis of historical sales data: refer to the sales data of Prime Day in previous years, and combine the current market trend, accurately predict the sales volume of this activity, and reasonably stock up to avoid overstock or stock out.
Optimize supply chain management: keep close contact with suppliers to ensure timely replenishment during activities. During the activity, the seller can consider sending one piece of goods through familiar suppliers to shorten the transportation time.
Flexible inventory allocation: flexibly adjust the inventory allocation of each warehouse according to different market demands to ensure sufficient inventory in key markets to meet peak demand.
Accurate pricing
By analyzing the price strategy of competitors, sellers can formulate competitive prices according to their own costs and market demands. You can consider using the strategy of gradual price reduction to avoid the loss of profits caused by premature price reduction.
Preheating
In advance of Prime Day, through social media, email marketing and other channels, to promote and warm up, so as to attract more users' attention. You can send holiday coupons or time limited discounts to regular customers to stimulate users' desire to purchase, thus improving the repurchase rate.
Joint promotion
Cooperate with other sellers to launch joint promotional activities to improve exposure and attractiveness. It should be noted that the seller you choose should not conflict with you, and should preferably be a product with high relevance. In addition, the other party will cooperate with you only if the traffic is equal.
Advertising
Reasonably plan the advertising budget and increase advertising efforts during Prime Day. Of course, sellers don't have to limit themselves to Amazon's internal advertising, but they can also pay attention to Facebook, Google and other platform advertising. However, by using these platforms to channel, sellers had better use independent stations as an intermediate channel, so as to avoid affecting the store conversion rate and even the store ranking because of the insufficient accuracy of the flow channeled.
High quality customer service
During the activity period, the seller had better provide 7 * 24 customer service support to ensure timely response to user inquiries and handling after-sales problems. Therefore, sellers need to prepare for customer service scheduling before the arrival of the membership day. If the number of customer service is not enough, temporary customer service needs to be found in advance.
Monitor sales data
During the activity, sellers also need to monitor sales data and traffic changes in real time, analyze user behavior and purchase data, so that they can find and solve them in a timely manner.
Finally, in addition to Amazon sellers, independent station sellers can actually carry out certain promotional activities, because during Prime Day, consumers are not necessarily limited to shopping on Amazon.
(Source: cross-border old drivers)
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