Amazon Prime Day is quite a special event as it is a big day for businesses to make more sales and profits. This year 2023, Amazon Prime day is expected to happen around July 11-13. It's best to be prepared ahead, so we have curated a blog to help you.
Let's get started with the main question: What is Amazon Prime Day about?
What is Amazon Prime Day about?
On this day, Amazon Prime members can take advantage of the annual shopping event of online retailers. Prime day is similar to Amazon's honeymoon period in that it is one of the most critical events for sellers. Up until early Black Friday, Amazon Prime Day is traditionally the best large-scale sales event.
Amazon lowered the prices of hundreds of items for 24 hours, focusing on its hardware. The inventory cut-off is expected to take place about 25-30 days before the big event. During this time frame, it is crucial to submit deals for multiple products with competitive prices.
How you should prepare for Amazon Prime Day?
Amazon Prime Day has changed a lot since the first event. Amazon sellers need to prepare for this 48-hour mega sale. The following are the steps you can take to prepare for Amazon Prime Day:
1. Bundle The Products First:
The best way to move as much inventory as possible is to combine products and sell them all together. It is true that bundling will reduce the costs associated with selling a single item. Furthermore, by going through your inventory list and finding old and slow-moving inventory items, you can bundle them with other items to make them more attractive and sell them at a better discount.
2. Make Use Of The Seller Fulfilled Prime:
During this rush, try taking advantage of Amazon Seller Fulfilled Prime. The FBA service ensures that your products will arrive on time to your customers, and you will receive excellent customer support.
Additionally, if you have your own website and use Amazon fulfillment, you avoid paying extra taxes for your business.
3. Avoid The Special Finds In Other Places:
Your business should not sell the same products as your competitors. When other retail stores are selling the same or similar products as yours, do not sell them. As an example, if you decide to sell tablets with special features on Amazon Prime Day and Walmart has the same brand and features on sale, you should ignore them.
4. Go for Repricing Advises:
Repricing is absolutely necessary for Amazon Prime Day. This event is so important for your business that you want to:
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Establish long-term relationships with buyers
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To maximize sales
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Focus on the store/brand/name/whatever you want to promote
5. Use the Advanced Statistics:
Finally, I would like to include this item that can be considered a separate post itself. Depending on your Amazon business model, you may need to take different steps to prepare for Amazon Prime Day.
Private Labelling
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Enhance your marketing and advertising strategies.
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A special Amazon Prime Day AMS campaign should be created.
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See how Sponsored Products can benefit you today by following them.
Online Arbitrage
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Reprice the old stocks based on your current inventory.
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Offer products that don't generally sell well in your listing
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To build your inventory for the event, go with an online arbitrage sourcing list.
Conclusion:
Amazon Prime Day is often underestimated and many sellers fail to prepare for its marketing because of ignorance. Please don't make the same mistake.
Because Prime Day is when most sales are recorded in a year apart from Black Friday and Cyber Monday. So better start now! Just reach out to Amz Online Arbitrage, if you want to get the best product deals.
To get more info about the Amazon arbitrage business, follow amz blog.