Using browser extensions such as CamelCamelCamel and Honey, shoppers can see the complete history of a product’s price, so they know when they’re being cheated. But beyond that, modern consumers are smarter than ever. The legality of this tactic is questionable. This causes shoppers to believe they’re getting a good deal, when they’re actually no better off than before. Once the event arrives, they revert to their original prices. If you’re a regular shopper on fast-fashion websites, you’ll have seen this tactic in action.Ī lot of businesses artificially hike their prices in the lead up to a big event like Prime Day. This distinction means coupons are a sure-fire way to get your product noticed! #7 – Don’t Artificially Inflate Your Price This is different to Lightning Deals, which are typically distinguished by an orange progress banner. If your coupon meets the eligibility criteria, a green banner will be displayed under your product in Amazon search results. Coupons allow you to offer a % off or £ off discount. #6 – Create CouponsĪnother easy way to showcase your product is by creating a coupon (voucher). Our top tip is to submit several variations of the deal to speed up the process should one get disapproved. If you want to create a Prime Day Lightning Deal, you’ll need to submit it in advance. They must offer customers a discount of 20% or more from the average listed price in the last 90 days. Lightning Deals are promotional discounts that are available for limited periods of time. On Prime Day there are three basic types of deals: Spotlight deals, Lightning deals, and Prime savings. Essentially, this means it’s crucial to ensure you don’t have excess inventory laying around. Since July 2020, sellers with an IPI score less than 500 have been subject to storage limits. This is particularly salient considering the new limits that Amazon has placed on IPI thresholds. Work out your breakeven price and go from there. If you have items that have been sitting in your inventory for months, now’s your time to get rid of them. Of course, this is easier said than done. The trick is to price your products competitively, without wreaking havoc on your margins. On Prime Day, the price of your products is make or break. After all, happy customers are more likely to be repeat customers. Many physical retailers hire temporary staff over the busy period, so it makes sense that online retailers do the same. The customer journey doesn’t end once a purchase has been made – it’s equally important to provide timely delivery and good customer service. With this year’s Prime Day promising to smash records again, you should get more hands on deck to cope with demand. With FBM, if your FBA inventory reaches 0, you’ll have to start fulfilling orders through your own means. But prematurely going out of stock on Prime Day means you’ll hinder your potential. In any case, allowing a product to go out of stock can considerably lower your product ranking. If you’ve left it too late to replenish your FBA stock or you’re unsure how well a product will sell, consider utilising both FBA and FBM. It’s important to do this sooner rather than later, as Amazon’s inventory handling processes are slower than usual in the run up to Prime Day.ĭo you have enough stock to satisfy an uptake in demand?īe mindful that Amazon has ASIN-level quantity limits for all FBA products, so be careful not to overstock as this will negatively impact your account in the long run. If you use FBA, evaluate your current stock and consider arranging another FBA shipment. It goes without saying that if you want to take part in Prime Day, you need to have products to sell. According to Statistica, Prime Day Sales generated an estimated $10.4 billion in 2020, up from $7.16 billion in 2019. Last year, Prime Day was delayed from June until October, and resulted in yet another record breaking year for the marketplace. It’s since grown to become one of the most important dates in the ecommerce calendar. The event was first introduced in 2015 as a way to celebrate Amazon’s 20 th birthday. Over the course of 48 hours, members can benefit from huge deals and discounts across a whole range of products. Why should you focus on Prime Day?Īmazon Prime Day is an annual shopping event exclusively for Amazon Prime members. To help you get ready, here are our top tips to help ensure you smash your targets and make the most of the event. This Amazon Prime Day promises to as big as ever, so how can you prepare your store and deals for Amazon Prime Day 2022? It’s that time of the year again! The biggest online shopping event of the year is due to return this summer and the deadline to submit your lightning deals is 13th May.
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