05 Jul Amazon Prime Day 2022: why it’s so important and how to get the most out of it
- The US company has announced that the exclusive event for Prime customers will take place on 12 and 13 July.
- Total sales continue to grow year on year and it has become a very good opportunity to increase sales and reach new customers.
In 2015, Amazon launched an event focused on offering benefits and discounts to its Prime members to commemorate its 20th anniversary. The duration of the event is 48 hours, but both before and after the event sales increase considerably compared to a normal period.
Although it is focused on consumers buying items they need at a reduced price, in recent years the first beneficiaries have been the SMEs that sell on its platform, even surpassing the marketplace‘s profits.
Here’s an in-depth look at the benefits of participating in this event as a retailer and what you need to have ready to make the most of it. Ready for Prime Day 2022?
Record sales figures in 2021
To give you a quick idea of the amount of products that are moved during these 48 hours, last year, more than 250 million items were sold worldwide. In fact, the number of Prime users is up to 200 million, two thirds of the number of active accounts, which is around 300 million.
However, the scope of Prime Day goes beyond these numbers. According to a study conducted by Kantar and Amazon Ads, 71% of shoppers are introduced to new brands in the run-up to the event. In addition, 75% of users are likely to buy a product during the event that they discovered in the days leading up to the event.
Moreover, during the last Prime Day celebration, small and medium-sized companies were the protagonists, beating even Jeff Bezos’ own company in terms of profits. In a statement, they went so far as to claim that these were the two days «with the highest sales volume in its history, growing even more than the sales made directly by Amazon».
Prepare your Prime Day campaigns
According to Awilda Hancock, global sector marketing team leader for Amazon Ads, the important thing is to have an always-on campaign, as Prime Day is much more than just an event. According to the company’s research, brands that advertised during all phases of the event were better able to develop their brand presence with shoppers. In numbers, there was «a 216% increase in awareness and a 214% increase in consideration compared to brands that did not advertise at any stage of Prime Day,» she says.
On the other hand, Awilda also recommends that marketers lean towards combined campaigns. For example, they found that in North America, brands that combined sponsored and display ads along with streaming TV ads increased sales by 50% compared to the two weeks prior to the Prime Day period. In the European Union, the figure was 46.4%.
It is important that as a marketer you prepare your marketing strategy well in advance to make the most of every phase of the event. According to internal data collected by Amazon through a survey of more than 8,000 people, 40% of shoppers choose products that support their values, while around 60% indicate that quality is the priority attribute when making a purchase, apart from being on sale.
Things to bear in mind
But what good is a good marketing strategy if your products are not well described and do not contribute anything, if you do not have the logistical capacity or do not have enough stock to cope with orders? None. Therefore, we recommend that you make a forecast of the sales you are going to have and that you have enough products ready to satisfy the sales peak.
In addition, you should make sure that all your products are published correctly, with all the details correct and also that they have information that adds value and attracts the attention of buyers. Check the listings you have published, making sure titles, bullet points, images and descriptions are up to date, etc.
On the other hand, if you use Amazon Logistics (FBA) you should have your inventory ready to arrive at the storage centres 2-4 weeks before the start of Prime Day. Conversely, if you are a seller who uses your own logistics, make sure that you will have sufficient capacity to ship all products in such a way that your buyers receive them in perfect condition and in a timely manner.
In short, it is important that you take advantage of Prime Day in all its phases, both before and after. As a direct consequence of the event, you will be able to increase your sales and brand visibility. It is therefore essential that you are prepared both to satisfy your target audience and to attract new customers.