Thanks to Amazon Prime Day, consumers no longer have to wait until Black Friday and Cyber Monday to land amazing deals. Amazon first launched Prime Day in 2015 after celebrating its 20th birthday. As a thank you to customers with Prime Memberships, Amazon gave access to incredible deals on everything from electronics to small appliances.
So, just how big is Amazon Prime Day? I would say big. And, it’s getting bigger. Check out these statistics from last year’s big event.
Total 2017 sales for Amazon Prime Day reached an estimated $2.41 billion. In 2016, sales were between $500-$600 million. Still impressive, but not where they are today.
According to Amazon, year-over-year sales grew 60%. Some individual sellers have seen even more impressive growth. Consider that Simply Gum, a natural chewing gum company, offered 20% off on Prime Day and saw sales increase by 1,371%!
The Echo Dot was the biggest seller in 2017. The voice assistant normally runs for $49.99 and $179.99 and was discounted 30%. Not only did Amazon cash in on their voice assistants, but also Prime memberships skyrocketed.
4 Key Tips for Unlimited Prime Day Success
Are you ready to cash in on Amazon Prime Day? Follow these four tips to ensure that your brand makes the cut.
Run Promotions. Competition for Prime Day is huge. A vast majority of sellers will be running promotions to make sure they have the lowest price. Launch promotions for your own products. Compete on price as well as features. What unique qualities does your product offer for the same price?
Increase Bids. Sellers know that Prime Day is about going big. They aren’t afraid to increase their bids, and you shouldn’t be either. Raise your bids on high-performing keywords to ensure that they are shown often. The sales generated will offset the extra cost.
Increase Budgets. Amazon Prime Day brings far more traffic your way than on a normal day. Increase budgets on your advertising campaigns so that you don’t miss out on traffic that could bring your business extra revenue. Also, don’t forget to have enough inventory and staff to handle the additional sales.
Product Display Ads. Test your product display ads against competitors that are offering strong deals. By advertising against certain products, you can make sure that buyers are seeing your products on your competitors’ product pages. If you’re selling your item at a lower price, you can win the customer over!
If the past couple of years are any indication, I predict that Amazon Prime Day 2018 will go well and beat out 2017 numbers. Already, Amazon has been advertising the big event. There is even a countdown ticker on its website, along with countdown deals. Not to mention, more people than ever are Amazon Prime members thanks to the free two-day shipping, cloud storage, and music streaming service. Let’s add another great year to the books!
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