What is Amazon Prime Day? What does Prime Day mean for Amazon sellers? How can Prime Day help Amazon sellers succeed internationally?
Amazon Prime Day is the most anticipated Amazon in-store shopping event of the year, offering two days of discounts exclusively for Amazon Prime members. Prime Day 2024 once again brought record-breaking results and valuable insights, especially for third-party sellers. What do these results tell us and what do they tell us?
Read also: Which kind of business are best suited for selling on Amazon?
What is Amazon Prime Day?
Amazon Prime Day is an annual global Amazon shopping event, first launched in 2015 to celebrate Amazon’s 20th anniversary. The event offers thousands of discounts and special offers exclusively to Amazon Prime members. Prime Day officially lasts for 48 hours, but some offers may last even longer. The event is designed to boost sales during the quieter period before the big holiday season and to attract new Prime members to Amazon. Prime Day 2024 took place from 16-17 July, when the event again broke previously set Amazon sales records.
Read also: Why Amazon: the world’s largest shopping site opens up opportunities for businesses of all sizes
Prime Day 2024: Results
Prime Day 2024 was another success, as reflected in both Amazon’s own and third-party sellers’ sales figures. According to data collected by Jungle Scout, the event brought record results for third-party sellers, multiplying the sales of numerous sellers in just a few days. Tinuiti reports that Prime Day 2024 brought with it new trends, including growing demand for sustainable products and health products.
Read also: How will buying on Amazon evolve in 2024?
Jungle Scout highlights the popular Fitbit sports watch as a prime example of Prime Day’s impact on individual product sales on Amazon.
A look at Fitbit’s explosion in sales on July 17 shows how Prime Day can increase average daily sales of a product by up to six times when the opportunity is properly prepared.
| Avg. Daily Sales | July 15 Units Sold | July 16 Units Sold | July 17 Units Sold |
|---|---|---|---|
| 939 | 671 | 613 | 5,698 |
On the same day, Fitbit’s Amazon BSR (Best Sellers Rank) also rose significantly thanks to increased interest in Prime Day.
Did you know? BSR is a number assigned to almost every product after it has sold at least once on Amazon. BSR is a good indicator of how well a product is currently selling on Amazon. The lower the BSR, the better the product sells. For example, a product with a BSR of 1 will generally sell much better than a product with a BSR of 200,000. However, the BSR only applies to sales in a particular category, so a product can have multiple BSRs in different categories.
| July 15 BSR | July 16 BSR | July 17 BSR |
|---|---|---|
| 93 | 110 | 1 |
However, when looking at the numbers for Fitbit and other products, it is very important to remember that Prime Day or high demand on Amazon does not in any way mean that every product will automatically achieve high sales volume and rankings on Amazon. During Prime Day, as at any other time, there are tens of thousands of sellers competing on Amazon, and to stand out from the crowd requires sustained and systematic effort and investment in professional and optimised Amazon selling. Achieving sales success on Prime Days often requires lengthy preparation and increased advertising budgets as click prices soar for the biggest sales days of the year.
Read also: Marketing on Amazon – How to differentiate from competition
How can Sellers Leverage Amazon Prime Day?
Prime Day offers a huge opportunity for third-party sellers to increase their sales and reach new customers. Here are some tips on how sellers can make the most of Prime Day:
- Prepare for demand: A successful Prime Day requires careful preparation. Make sure your stock is full and you’re ready to handle the growing demand. A well-planned advertising campaign can help attract more customers.
- Use A+ content: Enhance your product pages by adding high-quality content such as images, videos and detailed product descriptions. This can help you stand out from your competitors and increase conversions.
- Take advantage of Amazon’s advertising tools: Amazon offers several advertising tools, such as Sponsored Products and Sponsored Brands, that can help you increase your visibility during Prime Day. Well-targeted promotions can bring significant sales results.
- Track and analyze results: After Prime Day, it is important to analyze sales results and customer feedback. This will help you understand what worked and where there is room for improvement for the next event.
Amazon Prime Day 2024 was once again a success for both Amazon and third-party sellers. With good preparation, effective marketing and a quality customer experience, sellers can maximise their benefits on the biggest shopping day of the year.
Our expert tour guides will be happy to discuss your company’s potential in the e-commerce jungle with you – contact us for a low threshold.
