How To Prepare For Prime Day 2022: A Guide for Sellers
June 19, 2022
Amazon Prime Day 2022 has finally been announced. This year, the big two-day sales event will take place on July 12 – 13. Prime members are already gearing up for the deals and discounts awaiting them on a variety of products from top brands and third-party sellers. For Amazon sellers, now is the time to prepare for Prime Day.
Last year, Amazon Prime Day generated sales exceeding $11 billion. It’s a huge opportunity for third-party sellers, and now’s the time to double down and make sure you’re ready.
The cut-off date for Prime Day FBA (fulfilled by Amazon) inventory has already passed, as has the deadline for submitting Prime Day coupons and lightning deals. However, there are still plenty of ways you can make the most of Amazon’s big sales event.
What is Prime Day?
Amazon Prime Day is a 48-hour sales event that occurs exclusively on Amazon. Prime members get significant deals and discounts on a wide variety of products including electronics, fashion, and even music.
Prime Day is sure to be a huge event this year. With a recession looming, many consumers are reducing their spending and trying to save money, which puts them on the lookout for good deals. This could drive even more consumers to the special offers of Prime Day. In addition, Amazon has raised Prime membership fees and may offer even larger discounts than usual in an attempt to pacify Prime members upset about the price hike.
The history of Prime Day
The first ever Amazon Prime Day took place on July 15, 2015. It was a one-day sales event in honor of Amazon’s 20th anniversary. Exclusive sales and deals were available to Prime members in 9 countries, and they rushed to take advantage of the discounts.
Prime Day was an immense success, with customers ordering more on Prime Day than on Black Friday of the previous year. Amazon continued the tradition each year, and the sales volume, global reach, and revenue continued to grow. While the date varied slightly each year, it continued to take place in July, boosting sales during the otherwise slower summer months.
Over the years, Amazon extended the length of the event, and in 2019, Prime Day lasted for 48 hours for the first time ever. The global span of the event reached 18 countries and sales that year were greater than Black Friday and Cyber Monday 2018 combined.
In 2020, however, Prime Day was pushed back to October due to the Covid-19 pandemic. That didn’t stop it from being a success, with record-breaking sales. Prime Day 2020 was particularly profitable for independent third-party sellers, who sold more than $3.5 billion worth of products.
Last year, Prime Day took place in June. For third party sellers, it was the most profitable two-day period in history. The event spanned 20 countries, with Prime members buying over 250 million items over the course of 48 hours.
Prime Day 2022 will occur on July 12 – 13, and occur in over 20 countries. Despite the fact that Prime Day itself lasts just 48 hours, some deals go live weeks in advance. In addition, brands such as Walmart will likely offer deals of their own in order to compete with Amazon’s shopping event.
How To Prepare For Prime Day
While the deadlines for submitting lightning deals and coupons for Prime Day have already passed, there is still plenty that Amazon sellers can do in order to prepare their store for Prime Day.
Set up your Prime Exclusive Discounts and price competitively
Prime Exclusive Discounts are special prices available only to Prime members. They are displayed as a discounted price next to a crossed out regular price, and show consumers how much they are saving thanks to their Prime membership.
On Prime Day, these Prime Exclusive Discounts appear with a “Prime Day Deals” badge. This can draw customers to your page, so it’s a good idea to set up your Prime Exclusive Discounts on time. This year, the deadline for submitting this type of discount for Prime Day is July 8.
In addition to the regular eligibility criteria, products with Prime Exclusive Discounts on Prime Day must meet several additional conditions. In order to qualify, sellers must have a seller feedback rating of at least a four. The discount on each item has to be at least 20% off the regular price, and must be lower by 5% than the lowest price you offered on that product in the last 30 days. The product also needs to be rated at least 3.5 or have no rating at all.
Whether or not you choose to offer Prime Exclusive Discounts on Prime Day, make sure to price your products competitively. Do some research to see how other sellers are pricing similar products, and check out Prime Day sales from previous years.
Put thought into choosing your products
Choosing the right products for your Prime Day deals is important to your success, so be mindful when making this decision.
Make sure to choose products that you have in stock, and that you’re least likely to sell out of. While many products will indeed go out of stock on Prime Day, it’s best for your shop if you can sell as much as possible and avoid costly stockouts. This will keep profits rolling in, your customers satisfied, and your shop in good standing.
Since most customers check product reviews before making a purchase, choose products that have plenty of positive customer reviews. Don’t alter reviews in any way though, because that can actually harm sales. Good, honest reviews from real customers give consumers the extra push they need to press that “buy” button.
Optimize your listings
Once you’ve chosen your Prime Day products, it’s time to optimize your product listings.
If you want to maximize sales, it’s important for your products to show up on the top of search results. Therefore, put some effort into your SEO and keyword research. Make sure to use keywords in your listings and write for conversion. You want your product descriptions to be specific and informative. There are plenty of resources out there to help you identify keywords to help you rank, such as Ahrefs, Google Keyword Planner, and SEMRush.
Your listings are the face of your brand, so it’s important they look good, too. Choose a product title that includes keywords and will attract attention. Then, optimize your product images. High quality, flattering images are key, since they play an essential role in helping customers make a decision. Include several product images in order to showcase your product thoroughly and accurately. It’s also a good idea to include at least one image of your product in use.
You may want to include an infographic highlighting your product features and benefits, since most consumers don’t read all of the text in your listing. Video can add to your listing as well, and has even been shown to increase the likelihood of a customer purchasing your product.
Consumers have a lot of choices, so your listing should be as well designed and informative as possible. If potential buyers feel that your listing is professional and trustworthy, they’ll be much more likely to choose your product over competitors.
Create a dedicated Prime Day page
In order to ensure that your customers find your Amazon Prime Day deals easily and quickly, it’s a good idea to create a Prime Day subcategory page. Put all of your Prime Day deals on this page and use it as your landing page that day.
You can then direct all traffic to your dedicated Prime Day deals page to raise your conversion rate. Potential customers will see all of your sales and discounts in one place, making them more likely to make a purchase.
Build awareness and boost visibility through marketing
This is the time to make sure your Prime Day marketing campaigns are ready to go. A well-rounded marketing campaign can truly help you succeed on Prime Day. Budget ahead of time to make sure you have the funds to keep your campaigns going strong throughout Prime Day. Targeted marketing campaigns for the lead-up to Prime Day, the 48 hours of sales, and the lead-out stages are your best bet.
If you don’t already, it’s wise to pay the extra cost for AMS, or Amazon Marketing Services, for Prime Day. Amazon’s specialized marketing tools can help potential customers find your products. Since Amazon Prime Day is exclusively an Amazon event, advertising on the platform is particularly valuable.
Set up your Prime Day marketing campaigns early, and take the time to A/B test them to ensure you’re maximizing your potential return on investment.
Stocking up on inventory and building paid advertising campaigns takes capital. If you’re looking for funding solutions to help you succeed this Prime Day, check out 8fig’s fast and flexible Growth Plans. 8fig is a funding platform designed just for eCommerce sellers. We offer eCommerce sellers continuous, unlimited capital infused into your business at every stage of your supply chain. Sign up for a Growth Plan from 8fig today and find out how we can help you reach your full sales potential.
Rebecca is an eCommerce writer at 8fig. She strives to provide sellers with the information and support they need to succeed in the ever changing eCommerce space.