The Time to Prepare for Prime Day 2022 is Now – Here is Why
If your customers like to save money, there is no doubt they will be taking advantage of the famous Amazon Prime Day. Think of Prime Day as a summer time black Friday, where you can get huge savings on your favorite products and/or finally buy that item you have been eyeing. The event typically lasts 2 days and the deals are exclusive to Prime members. That means if you are a small- to medium-size business you will be selling to 200 million Prime members as of 2021.
Why prioritize Prime Day?
According to The History of Prime Day 2021 “Customers spent over $1.9 billion on more than 70 million small business products during the promotional period, more than a 100% year-over-year increase in sales.” If you are not yet preparing for Prime Day, you are missing out on a huge opportunity. Keep reading to learn when, what and how you can get set up for Prime Day success.
When is Amazon Prime Day 2022?
Traditionally, Amazon has held its Prime Day event in mid-to-late July. If this scheduling holds true, it would suggest that Prime Day 2022 will be held on Monday, July 18 and Tuesday, July 19, 2022.
What to expect on Prime Day
In 2021 the consumer purchases from Prime Day were up by 7.7% from 2020 this means it is a great time for Amazon businesses to get a spike in sales for their 1st or 2nd quarter. Consumers flock to Amazon to check on deals and see if the products they want are running a promotion. This leads to massive increases in traffic and gives sellers the opportunity to pull in more customers by putting the right strategy in place.
Amazon Small business success stories from 2021 Prime Day
- “We sold 69% more units on the first day of Prime Day than we did on the same day the previous year. We have been able to reach thousands of new customers through Amazon that we would not have been able to reach otherwise,” said Maurice Contreras, founder of Volcanica Coffee.
- “This year’s Prime Day surpassed all of our expectations. Our products were listed on a Lighting Deal, and we saw an over 750% increase in units sold, resulting in a record sales day for us,” said Bairstow. “As a small business, Prime Day has become one of the most important events of the year, not only for its sales boost, but also for raising awareness with new customers.” said Todd Bairstow, founder of Finer Form
If you are not yet preparing for Prime Day, you are missing out on a huge opportunity. Keep reading to learn when, what and how you can get set up for Prime Day success.
What to start doing now to prepare correctly
- Get your inventory in check and make sure you will have enough product to send in on time!
- Running out of stock while traffic and conversions are at an all time high is the cardinal sin on Amazon! Make sure you forecast appropriately and err on the side of sending in a little more than you have been selling in months past. Send in your inventory early to avoid the last minute rush and delays that could have you missing early sales!
- Figure out which products you will focus on for your Prime Day push
- Pick your top products or focus on a product that needs some extra love in order to make big moves In your keyword rankings and revenue strategies. The added traffic and sales will boost your rankings and set you up for a successful Q4!
- Determine your Prime Day advertising budget
- This is crucial to make sure that you spend wisely! Bids for keywords typically start increasing a few weeks leading up to the event and peak the days of Prime Day. Make sure you allocate budget to your top converting time slots!
Want more tips?
Be sure to check back here or follow us on Instagram @evolved_commerce to be in the know as you are prepping your business for Prime Day. Want to take advantage of this opportunity but not sure where to start exactly? Give our team a call for a free account audit and we can get you on the right track