In the past, Amazon has been known to host an annual Prime Day event. Prime Day is Amazon’s biggest deal event of the year, featuring deals on top brands and small businesses. Prime Day is exclusive to Prime members. While Amazon does not disclose Prime Day sales, it can be inferred that the growth in sales during this event was successful enough in July that Amazon has decided to host another Prime Day event this October 2023. The Prime Big Deal Days sale is set for October 10th and 11th this year. Amazon has followed these two annual Prime Day Deals in the past two years, but they have not announced whether it will permanently host two Prime Day events every year. As such, if you are an Amazon seller, it is vital to understand how participating in this annual event can boost your sales. If you’re considering participating in Prime Day in the future, contact the AVASK Group to learn about the benefits of this global sales event.
How can Amazon sellers benefit from participating in Prime Day events?
Amazon’s Prime Big Deal Days allow Prime members to shop discounted items across various categories of products for 48 hours. For Amazon selling partners, participating in this annual sales event is a great way to boost sales and offers sellers increased exposure, a way to clear unsold inventory, and rack up better reviews on their products.
Firstly, Prime Day will increase your brand’s exposure without having to up your ad spend. Some Amazon sellers have a hard time keeping up with their competition. However, this annual sales event creates brand awareness and helps sellers gain traction on new products. Brand awareness refers to consumers’ familiarity with a particular brand. Building brand awareness will help foster customer relationships and have your brand on their minds when purchasing.
Sometimes, Amazon sellers have extra or surplus products they need to move because if they sit in your warehouse, they aren’t making you a profit. Through Prime Day, you can offer Prime members discounted prices to help promote and clear dead stock out of your warehouse. This will save you a substantial amount on storage costs. In addition, producing more sales on Prime Day will result in shoppers generating more reviews of your products. You can even request that your customers share their thoughts on your product, significantly boosting your e-commerce growth. When customers buy your products on sale, they are more likely to return a positive review as they often feel like they got their money’s worth. Positive product reviews can significantly impact your brand’s reputation, gaining more traffic to your storefront. Customers are more likely to buy your products if you have positive reviews.
As you can see, selling partners can benefit from participating in Amazon’s annual Prime Day sales event in various ways. If you’re considering participating in Amazon’s Prime Day event, contact our adept team at Ebiz Accounting, as we can discuss strategies that can help you grow your business.