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5 Essential Tips to Get Ready for Amazon Prime Day 2021
Stay on top of the latest e-commerce and marketplace trends.
As one of the most critical selling periods each year, Amazon sellers and brands know how important it is to get their businesses ready for Prime Day as early as possible, with key strategies put in place ahead of time to maximize returns.
Despite being postponed to October, Prime Day 2020 was an historic event for third-party sellers, who saw 60% year-over-year increase in global sales, generating $3.5 billion. In addition, total global sales — including Amazon and first-party merchants — reached nearly $10 billion, up 43% from the previous year.
With more businesses than ever before now embracing Amazon, Prime Day 2021 is set to be another big event that sellers need to prepare for. Discover how to get ready for Prime Day with these five essential tips.
When Is Prime Day 2021?
After switching to a fall date in 2020 due to supply chain challenges and warehousing issues related to the Covid-19 pandemic, Prime Day will return to its typical summer schedule this year. It was recently revealed that Amazon has set June 21-22 as the official dates for Prime Day 2021.
Tip #1: Update Your Product Listings
It is essential that brands and sellers optimize their product listings for the key ASINs they plan to promote on Prime Day items in order to improve visibility and maximize conversion rates.
There are several key factors you should keep in mind while updating your product listings, including:
- High-quality images: Use fresh and engaging product images that are high resolution and adhere to Amazon’s image standards
- Titles, bullet points, and descriptions: Write clear, concise copy that is compelling and “snackable” in length — which also helps with mobile visibility
- Key attributes: Do not forget to answer any questions consumers may have about your product by including detailed descriptions that cover all major selling points and product line information
- Backend search terms: Make sure to include keywords that are relevant to your product, but are not currently used in your listing, and never repeat words or use brand names, either yours or your competitors’
It is also important to understand how organic search factors into enhancing Amazon product detail pages. Take an SEO approach with your top keywords, ensuring that they are relevant to your product and category, and are high volume and tailored to improve visibility and conversions.
Make sure to enhance all relevant areas on your product listings with your best-performing keywords, such as titles, bullet points, and descriptions, while avoiding “keyword stuffing” to maintain a clear and positive shopper experience.
Tip #2: Strategically Manage Inventory
For any products you plan to promote on Prime Day, it is imperative that you take the time to evaluate what stock levels are appropriate in order to avoid any possible issues.
Since running out of stock on a popular item can affect a listing’s rankings and your seller performance metrics, make sure you have enough inventory to last throughout Prime Day, especially if you plan on utilizing Lightning Deals.
Based on Feedvisor’s Prime Day 2020 data, several product categories saw boosts in total sales growth. In particular, Electronics grew 12% compared to 2019, with many of the event’s overall top-selling products falling within the Electronics category.
Meanwhile, total sales growth for Clothing, Shoes, and Jewelry grew 27%; Grocery and Gourmet food grew 23%; and Home and Kitchen grew 14% compared to Prime Day 2019.
If you are selling across these popular categories, having enough stock to meet the growing demand will be critical to your Prime Day success.
Tip #3: Optimize Pricing
With so many sellers competing for consumers’ attention, effective pricing strategies play even greater roles during the Prime Day rush. According to our 2020 consumer holiday survey, over 76% of consumers say that price is a very important factor for making a purchase.
Maximize profits by utilizing a SKU-by-SKU strategy — which means taking the time to thoroughly focus your attention on each individual item rather than making broad changes to your entire catalog — optimizing all aspects of its promotion.
Working with a repricing technology partner can also further increase your returns by adjusting prices in real time based on market conditions, so you can efficiently keep top items selling at their optimal prices throughout Prime Day 2021 and beyond.
Tip #4: Bundle Up
Another great strategy to utilize is product bundling, which drives sales by having multiple items in your catalog grouped together for a single transaction.
Bundles are particularly effective for items that are often purchased at the same time anyway, making it even more convenient for consumers who frequently buy these popular products together.
Sellers can also benefit from bundles by pairing their top items with less popular products, which can help with managing inventory levels and selling through stale inventory.
Tip #5: Monitor Advertising Spend
Of course, advertising plays a crucial role in Prime Day success, and sellers must be strategic with how they use their budgets, with increased ad spending and sale prices significantly impacting bottom lines.
Make sure you have Prime Day-specific advertising plans in place ahead of time that are detailed and consider every factor that can affect profits, so you are not wasting budgets on under-performing or overly costly strategies. Explore Feedvisor’s 2021 guide to the top Amazon Advertising strategies for a deep dive into some of tactics that are driving the best results.
Overall, it is a good idea to take a full-funnel approach to Prime Day 2021 advertising, so you can capture the attention of consumers at every stage of the buyer’s journey. Sellers and brands should also team up with experts with experience optimizing ad types for each stage of the funnel and can help maximize returns on your advertising efforts.
With Prime Day 2021 right around the corner, brands and sellers cannot afford to wait on preparing for the annual Amazon shopping event. Make sure your business is fully equipped to handle this busy selling day by employing these key strategies for Prime Day success. If you need help optimizing your Prime Day strategies across advertising, pricing, content, and more, then click below to set up a chat with our Amazon experts.
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