Amazon has become synonymous with the e-commerce industry, especially in the US. However, coronavirus continues to disrupt supply chains all over the world, and Amazon is no exception.
Amazon Prime Day Statistics
Amazon Prime Day 2019 was a record-breaking event. To see how Prime Day played out in 2019, here we have a few important statistics for you.
- Though Amazon did not disclose the total gross sales, the retailer mentioned that the product sales crossed 175 million in 2019. This surpassed 2018 when 100 million products were sold.
- Amazon Prime Day sales grew more than 70% in 2019 compared to the previous year (Source).
- As of 2019, more than 100 million customers have Prime membership in the US, accounting for 62% of the total Amazon customer base (Source).
- Based on active deals, the first peak was 11 AM PST, followed by the second peak at 6 PM PST. This time was expected to be the most active duration for shoppers during the day and after work.
- Products were commonly priced under $25, followed by $25-50, and $50-100 (Source).
- Electronics, Clothing, Shoes and Accessories, and Home & Kitchen were the most popular segments on Prime Day 2019. These categories are followed by Health, Home & Improvement, Beauty & Personal care, Mobile & Accessories, and Toys & Games.
However, Amazon Prime Day 2020 wouldn’t be the same as the previous year as COVID-19 has changed the entire dynamics of the e-commerce platform. Consumer buying behavior has changed, and there’s a sharp shift in the entire marketing ecosystem.
Unsurprisingly, online shopping grew more than ever before. This creates a tug between supply and demand which may lead to delayed shipping and product availability issues. So we can probably say that the Amazon Prime Day delay is for the best interest of the Amazon sellers. This gives them enough room to prepare for Prime Day by reinforcing their inventory operations and addressing the changes caused by COVID-19 disruptions.
How should sellers prepare for Amazon Prime Day in 2020?
There are countless brands trying to leverage a massive customer base on Amazon Prime Day. Whether you are a novice seller or an experienced e-tailer, it’s easy to miss out on a few things which can maximize your profits. As you compete with millions of sellers, it gets harder than it looks. So we came up with a few Amazon Prime Day tips to boost your sales in 2020.
Evaluate your Amazon FBA (Fulfillment by Amazon) inventory ahead of time. Getting your inventory sorted will help you avoid unnecessary headaches related to inventory management. Besides, if you have a broad inventory, Amazon thinks that you offer more value to your customers.
If you’re an experienced seller, look at the past sales trends to correlate the trends and plan for this year’s Prime Day. However, if your products are listed in the aforementioned categories affected by COVID-19, the trends may vary slightly.
Lightning deals play a prominent role during Prime Day. Amazon Prime Day lightning deals are an excellent way to boost your product sales quickly. Though they run for a limited time span, they are a powerful way to increase your sales momentum, and thereby, sales figures substantially.
Multiple Amazon Prime Day deals
If you’re serious about Amazon Prime Day sales, you should definitely consider submitting deals for multiple products with effective prices. Amazon will be flooded with multiple deals on Prime Day, and it might choose only a few of your submissions. So make sure you do enough research and give your best out there.
Create Product Bundles
Your primary goal on Prime Day must be to boost your sales by moving your inventory as much as possible. The best way to achieve this is to create product bundles that complement each other.
Make Your Amazon Prime Day 2020 Successful
As an Amazon seller, you have a lot riding on Prime Day. The results can be huge, especially when you’ve created a plan ahead of time and stick to it. Good luck and happy selling!