Amazon Prime Day Tips for Sellers

This year, Amazon Prime Day will be July 15 and July 16. There will be over one million deals across Amazon devices, fashion, toys, furniture, any more. This will be Amazon’s 5th annual Prime Day, and it will most likely be the biggest one yet. If you are a seller this Prime Day, here are some things you may wish to know:

• Prime Day promotions will be expensive. Before purchasing any ads, ensure that your margins can support the elevated ad prices.
• If you submit a Lightning Deal, there is a chance you may get promoted prominently on the Amazon Deals page, usually for around four hours. Deals with the best quantity, price, and inventory are generally given the most time and best position on the Amazon Deals page. In order to qualify for a lightning deal submission, you must first have a Professional Seller Account, have at least 5 Seller Feedback Ratings per month, and have an overall Feedback Rating of at least 3.5 stars. You may also learn which specific products are available for Lightning Deals on the Lightning Deal dashboard. 
• Coupons are a useful way to promote your sales. By tagging each of your products with a bright orange coupon label, you may help attract customers who skip right past products without a lightning deal. A coupon only becomes active two days at the earliest after you have created it, so if you wish to create a coupon, you must do so now.
• Since you want to capitalize on your most successful product, you should ensure your titles, images, and descriptions are up to date in order to optimize your search results and maximize your profits. 
• If you do receive any negative reviews on your product, then you should address them as soon as possible. Good customer service is important, and people appreciate when they feel their voice is heard. 
• Closely watch your budget throughout Prime Day, as your campaign budget may run out faster than you think. In order to keep your ads visible, you must ensure you supply enough money.
• Lastly, it is extremely important that you have stocked up on inventory. If all goes as planned, you’ll be selling your product like never before. This is why the last thing you want is to sell out during Prime Day. 

If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States.