Last updated on June 22nd, 2024 at 08:51 am
Prime Day is a shopping extravaganza like no other, but what’s even better? Double the opportunity with Amazon’s upcoming “Prime Big Deal Days” on October 10 and 11. This event is a golden chance for Amazon sellers to kickstart the holiday shopping season, well ahead of Black Friday.
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The Impact of Prime Day
The last Prime Day on July 11, 2023, was monumental, with over 375 million items sold globally. It was a record-breaking event for independent sellers, with some small businesses experiencing an 18-fold increase in their daily average sales.
Preparing for October Prime Big Deal Days
As an Amazon FBA seller, strategic preparation is key to capitalizing on the upcoming sales event. Here’s how you can make the most of it:
Creating Prime Exclusive Discounts
- Accessing Prime Exclusive Discounts:
- Navigate to the Advertising tab in Seller Central.
- Select Prime Exclusive Discounts and click “Create Discount.”
- Choose the appropriate month and year to start your discount.
- Setting Up Your Discount:
- Enter a name for your discount.
- Use the Discount Share Spreadsheet to upload multiple SKUs or manually enter details for up to 30 SKUs.
- Submit your products for validation. You’ll receive an email notification regarding the status of each product.
- Discount Management:
- Ensure your discount meets the minimum price requirements. If the base price changes, the discount price will adjust automatically.
- Prime Exclusive Discounts are free to set up, but they can’t be combined with other sales or coupons during their active period.
Creating Amazon Lightning Deals
Lightning Deals are another powerful tool to boost your sales swiftly. Here’s how to set them up:
- Eligibility and Setup:
- Ensure your products have at least a 3-star rating.
- Access the Advertising menu in Seller Central and select eligible items for your Lightning Deal.
- Set the discounted price and the number of units you’re willing to sell.
- Deal Management:
- Lightning Deals and Prime Exclusive Discounts cannot run simultaneously. Your discount will deactivate two hours before the Lightning Deal starts and reactivate an hour after it ends.
- Maintain sufficient stock levels to meet the deal’s requirements.
- Monitoring Your Deals:
- Use the Lightning Deals screen in Seller Central to track the status of your deals.
- Address any setup errors promptly and ensure all deal criteria are met.
Maximizing Lightning Deal Success
To enhance the effectiveness of your Lightning Deals:
- Optimal Scheduling:
- Amazon decides the exact timing of your deal. While you can choose the week, Amazon schedules the day and time.
- Be prepared for your deal to run at non-peak hours, but ensure your stock is ready regardless.
- Dealing with Rejection:
- If a Lightning Deal is rejected, review the criteria and make necessary adjustments. Products must be Prime-eligible, in good condition, and comply with Amazon’s guidelines.
- Handling Inventory and Cancellation:
- Maintain inventory levels above the minimum required for the deal to avoid cancellation.
- Be aware that frequent cancellations may lead to restrictions on future deals.
The Halo Effect and Beyond
While Lightning Deals can boost visibility and sales temporarily, their long-term impact can vary. Monitor your Best Seller Rank (BSR) post-deal to gauge effectiveness. Only five out of 17 items in a study showed sustained BSR improvement, typically lasting 2-3 days.
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Strategic Use of Deals
Deciding whether to use Lightning Deals depends on your objectives:
- Clear Excess Stock:
- If you need to move inventory quickly, a Lightning Deal can be effective.
- Boost Product Visibility:
- Although the timing is controlled by Amazon, increased visibility can lead to more customer reviews and long-term sales growth.
- Evaluate Costs and Benefits:
- Consider the deal fees and required discounts. Ensure the potential increase in sales justifies the investment.
Wrapping Up
Amazon’s October Prime Big Deal Days present a second opportunity for sellers to boost their sales and gain new customers. By analyzing sales data, optimizing listings, setting competitive prices, and leveraging promotional tools like Lightning Deals and coupons, you can maximize your success.
Get ready to dominate Prime Day with our comprehensive guide to setting up powerful coupons and deals that stand out in the Amazon marketplace. Don’t miss out on this chance to elevate your sales and visibility during one of the biggest shopping events of the year.
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