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Amazon Prime Day is one of the most important dates on a brand's eCommerce calendar and for a few years now Amazon has chosen to extend the duration of the event to two days, exceeding sales of 3,5 billion dollars in 19 countries, which represents an increase of almost 60% over the previous years.
This event is so well known that consumers prepare for it by searching for the products before Prime Day(s) and including them in their wish list to purchase when the day comes.
In fact, this global event is celebrated on the same days all over the world and is exclusive to Amazon, not like Black Friday, Cyber Monday or Christmas which all retailers celebrate. How to prepare for Amazon Prime Day? And most importantly how to measure how it went once it's over?
Get ready for Amazon Prime Day
We’ve put together a few tips to help you get ready for the unmissable e-retail event of the year. Take a look at what you can do to prepare for “P-Day”:
1. Make sure your products are looking good on the Amazon Shelf
- Review your product content: the images, the titles, the description and your enriched content is super important and needs to be up to date. Remember the traffic is going to explode on Prime Day(s) and you want to make sure you’re looking your best.
- To achieve the best impression you’ll first need to be in-stock. As mentioned, typically for this day consumers look for what they’re interested in buying in advance and add it to their wish list for later purchase, but if your products are out of stock these won’t even be considered.
- Take into account how much stock you will need to be able to meet the demand on the actual Prime Day (s). If the product has a sales history from other Prime Days, take that into account to make your estimates.
- If you have data only from 2020, be careful, because that year Prime day was held once in October, so if your product is seasonal (and is more related to summer months) then the demand can be impacted.
2. Reach for the “stars” of your portfolio
- Use your top products to attract the attention of your potential customers. You know well which is the selection of products in your portfolio that accumulate the most sales and the ones that usually have the best ratings and reviews: your hero products.
- In an eCommerce world where customers can’t physically experience products before purchasing, many consumers turn to online product reviews and ratings and this is no different on Amazon.
In 2020, Amazon transitioned Reviews to Ratings. The difference is that customers can now simply leave a star rating without leaving a text review.
- Make an effort and sponsor your hero products through Amazon Ads and make them visible to the Prime Day customers that know what they want, what they are looking for and will choose to buy the best on these days.
3. Measure, measure and then measure some more!
- You can’t improve what you don’t measure. Out of the total purchases of a product on a category on Amazon during a specific period, the percentage that goes to a brand defines its market share, and it's important you measure this before and after the big day.
- Benchmark your sales share against your category. How to know if you did a good job optimizing your Amazon Digital Shelf and how well you performed on Prime Day against your competitors if you’re not aware of what your Share is related to your specific category? Is there a trend you need to be aware of towards growth or a decline in your category? What competitors are winning the biggest share of the sales pie?
Measuring your share is as important as optimizing your shelf, especially if you want to win sales on Amazon on the most important date.
The effect of special events on Amazon
All these special promotional events have a big impact on Amazon sales and the eCommerce holiday calendar is full of these with dates like Spring Break, Valentine’s day, Halloween, Christmas and even Mother’s day.
Mother’s day is a traditional purchase occasion for European countries and the data shows it. This holiday can effectively shape an entire shopping category, like Beauty.
Mother’s day: Impact on the Beauty category (and its subcategories) on Amazon
Our category tree on Amazon analysis shows us the impact of this holiday within just one week. On data collected by Shalion: notice how for the "Women and Perfumes" subcategories the share of units sold changes from 65% in the week prior to Mother’s day to 50% in the week after.
If this shift in Market Share is seen in one of the top categories for Amazon (like the Beauty and Cosmetics) during a traditional celebration like Mother’s day, what can we expect from Amazon’s own “made-up” holiday? We can certainly wait for a global eretail earthquake.
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