Amazon Prime Day 2020 is coming—eventually. But just when it will be is the $7 billion question.
When Amazon first launched Prime Day in 2015 to celebrate their twentieth anniversary, it was a 24 hour bargain parade slashing prices for Prime customers on hundreds of items. It quickly grew into an international phenomenon rivalling Black Friday. In fact, in 2019, sales actually surpassed both Cyber Monday and Black Friday, with sales reportedly in excess of $7 billion being spent on more than 175 million products.
There’s no question that Prime Day is one of the most popular retail shopping events in the world. And there’s no question that Prime Day can boost both your visibility and your sales. But just how the events of 2020 will impact it may be a mystery.
Will COVID-19 Impact Amazon Prime Day 2020?
The coronavirus is already having a massive effect across numerous industries, and it’s no different in the worlds of both retail and tech.. Both production and trade of many products has come to a halt, and Amazon itself has faced difficulty in keeping up with—resulting in a temporary ban on order fulfillment of non-essential items at its warehouses that was only recently lifted. That might sound like bad news. The good news is that Amazon’s investment in an additional 175,000 employees is expected to handle the surge in consumer demands, as eCommerce sales continue to soar globally during the pandemic.
How Long Will Prime Day 2020 Last?
The exact date for Prime Day 2020 has yet to be announced, but Amazon has indicated that it will not take place during the standard date of July 15th.. When it first began, Prime Day was only a 24 hour exclusive window for Prime members. It’s since expanded to a 48 hour phenomenon that’s expected to draw a reported 100 million customers, And with the surge in sales Amazon is currently receiving, many customers are choosing to delay their purchase of non-essential items specifically until Prime Day 2020. Which means that once Amazon chooses a date, Prime Day could very well be over that 48 hour window.
Advertise To Attract This Prime Day
Prime Day 2019 was the top selling day on Amazon history last year. And if you’re looking to tap into its sales potential, you’re going to need to think about advertising ahead of your competition. CPC advertising is traditionally at its most high on Prime Day, and Amazon will use the demand to their advantage.
We suggest bidding higher and using top of search placement by at least 100 percent, as well as adding Sponsored Brands & Sponsored Display listings. If you have access, running Amazon DSP may actually be too much help for your brand. “As you prepare your ads for Prime Day, plan to increase both your budget and your bids.
Another tactic to consider is to create a campaign specifically for Prime Day. Just make certain to pause other Sponsored ad campaigns and use only your top performing keywords..But don't let your ads disappear entirely. It's not just about Prime Day alone. It's about the Halo effect.
Run A Deal On Prime Day
Prime Day deals may not be approved at this point just yet. But that doesn’t mean you can’t think about discounts already. Some vendors have seen a sales increase averaging 70 percent across discounted SKUs weeks prior to Prime Day, with sales elevating for months long after the end of the promotion, And that doesn’t just mean a surge in sales. Your organic search rankings can actually increase substantially, including eligibility for the Amazon Buy Box.
Consider running discounts even if your products don’t meet eligibility standards for Prime Day. You just might be surprised at the results.
Maximize Your Inventory
You’re not going to be the only vendor working with Amazon FBA. And managing your supply chain is going to be more critical in 2020 than ever before. If you think you’re going to be low in stock,
Make sure you’re sending products at least 15 days in advance for effective inventory management.
Establish a clear line of communication between manufacturers and your fulfillment methods, even if you’re handling it yourself.
Be prepared for at least 40 percent more competitive impulse purchases.
Prime Day historically results in a boost in Best Seller Ranking. But this can sometimes present a dilemma for small businesses by forcing them to handle the increase in customer demands..Ensure your inventory supply can meet your surge in visibility and maximize your account management services where you can.
Leverage Social Media
You may already be using social media for marketing. But are you using it effectively enough to drive conversions? Facebook offer ads can be one of the most powerful ways to promote your Prime Day sale if used effectively.
Facebook by far is the most dominant player when it comes to eCommerce shares, accounting for over 80 percent of all US social media referrals. And with the average user clicking on a reported 11 ads per month, it’s not just the higher visibility you’re going to see. Customers who sign up for your Prime Day offer are automatically sent a reminder to use their promotional code before it’s too late, creating urgent touch points that have historically resulted in a much higher conversion rate and much higher customer loyalty.
How We Can Help You Make Prime Day 2020 Your Prime Selling Day
Color More Lines can help you drive more sales this Prime Day. We provide white glove, global account management of your eCommerce platforms so mission-driven companies can focus on new product development, branding and growth strategies. Find out more at Color More Lines.