How to Prepare for Amazon Prime Day 2024: Guide for Sellers

Amazon Prime Day 2022 was a good one, and you are probably still itching to offer a few deals you did not quite get to snag in this year’s sale. Even if the 2024  event feels like a long way off, we like to stay organized when it comes to prepping your business, so we are already planning ahead when the next event will land. 

Preparing your products for the big Amazon Prime Day sale is never too early. So, read on more for Amazon Prime Day tips and everything you can do now to ensure you are ready when prices finally drop.

So, let’s start with our Amazon Prime Day guide.

Amazon Prime Day

This event first entered the scene in 2015 to mark Amazon’s 20th birthday. Later, it has become one of the most important dates on the shopping calendar. Last year, total sales exceeded $11.19 billion, with over 200 million items sold. As an AMZ seller, you would not want to miss this chance, would you?

What is Amazon Prime Day?

So, what is Amazon Prime Day? It’s an annual eCommerce event exclusively for participants of AMZ Prime, of which there’re more than 200 million! This event is usually promoted as a “day”; however, it usually takes 48 hours, during which members can access a broad range of best deals across various goods.

The importance of preparing for Prime Day as a seller

Prime Day isn’t just any ordinary sales event; it’s a game-changer for sellers aiming to make a big impact in the marketplace. By thoroughly preparing for this highly anticipated event, sellers can tap into the massive influx of customers and witness a substantial boost in their profits. Picture the excitement of attracting throngs of eager shoppers, captivating them with irresistible deals, and building a loyal customer base that will keep coming back for more.

However, Prime Day is no easy feat. It’s a fiercely competitive arena where sellers need to arm themselves with well-crafted strategies to outshine their rivals. It’s an opportunity to unleash your creativity, experiment with innovative marketing approaches, and stand out from the competition. By optimizing your product listings, analyzing competitor actions, and staying abreast of the latest trends, you can devise a winning plan that propels your sales to new heights.

When Is Amazon Prime Day 2024?

The 2022 Prime Day sale comes back to the usual July dates for 2022, but there has been little consistency over the years, making it hard to predict 2024. We do not have any official confirmations or timings for next year – AMZ usually waits until at least the month before to start disclosing dates- so we have got a long time to wait before we know when the best Amazon Prime Day deals begin dropping. 

Key dates and timeline

As you can now expect, AMZ Prime Day extends well beyond the traditional definition of one day, with discounts being online a couple of weeks ahead of the official opening date and then the main sale lasting two days. For instance, the 2022 event started at immediately midnight on July 12 and ended at midnight on July 13. This general tendency has been to give all customers as long as possible to grab all the deals their bank balance can handle, so we would not be surprised if it was another two-day sale next year.

10 Tips on How to Prepare for Prime Day as a Seller

Preparing for Prime Day is crucial as a seller to capitalize on the increased customer traffic and boost your sales on Amazon. Here are ten valuable tips for Amazon Prime Day to help you effectively prepare and make the most out of this high-visibility event. 

1. Analyze past performance and sales trends

One essential step in our Prime Day guide is to analyze your past performance and sales trends. Review your historical data from previous Prime Day events, as well as other major sales periods, to identify patterns and trends. Look for insights on top-performing products, sales velocity, customer preferences, and promotional strategies that worked well. This analysis will provide valuable guidance for optimizing your inventory, pricing, and marketing strategies for the upcoming Prime Day.

2. Choose products to highlight and promote

Amazon Prime Day isn’t the time to concentrate on slow-moving goods or struggling ASINs. Instead, we advise promoting your most successful items or top-selling ASINs. High-performing goods have better sales and are more heavily advertised through the platform’s algorithm. Therefore, concentrating on these items will show growth in sales performance and return on investment.

3. Check inventory levels and reorder stock

Running out of stocks is the worst thing an AMZ merchant can face. So you should check the stock levels before Amazon Prime Day. It will help to ensure you have enough goods to expect growth in sales. Find your historical statistics and look at how your top-selling items performed last year—especially within peak e-commerce shopping times. If you predict correctly, you will have enough products for the event and the rest of July.

EXTRA TIP: Still not sure how to make predictions for Amazon Prime Day? Try buying an additional week’s worth of stocks to be safe.

4. Optimize product listings for maximum visibility

If you have not done it already, it is time to invest in optimizing your Amazon listings. Doing so will enhance your organic growth on the platform and boost your conversion rate for Prime Day. Moreover, adding proper, high-value search terms will help rank your pages on the marketplace’s search results. As with Google, customers only check the most relevant and the highest search results.

One issue that sellers can’t afford is to have critical info missing from their listings on the platform. For instance, suppose a buyer can’t find answers to urgent questions promptly. In this case, they will make a purchase elsewhere, especially on AMZ Prime Day, when there’re many discounts and offers to benefit from within a limited period.

That’s why you should start auditing the listings right now. Pay close attention to all the gaps. Are your product pages missing key information? Do they contain unanswered questions from shoppers? Do your listings include sufficient high-quality photos? These are some essential questions you must be asking yourself.

EXTRA TIP: Still utilizing Enhanced Brand Content? Is your brand registered with the Amazon program? If so, we recommend switching to the platform’s A+ Content. Unlike the first option, such content does not remove the product description. Instead, it is a crucial opportunity to add additional keywords. As a result, your listings will rank higher on search result pages on Amazon.

5. Fix suppressed or inactive listings

Do not waste your precious time marketing listings that are blocked, out-of-stock, with pricing mistakes, or missing relevant details. Instead, stay diligent and do extra checks before Amazon Prime Day!

6. Generate product reviews to build social proof

As you may know, Amazon has its “Request a Review” feature, which every seller should utilize before the event. It will give you extra customer feedback and boost your products’ ranking. Need assistance getting client reviews for goods new to the marketplace? Check out the Early Reviewer Program or leverage third-party feedback management tools. 

7. Leverage Amazon advertising for increased visibility

Enhancing your exposure and bringing extra traffic to your listings with Amazon Prime Day ads could determine your selling success. Our advice here is to use Amazon Advertising to outperform other sellers. Employ dynamic bidding, and do not forget to raise your promo budget daily —we recommend increasing your everyday spending by 2-3 times.

EXTRA TIP: Invest in Amazon’s Sponsored Products. This advertising type will display any Coupons or Lightning Deals provided for that items—and Amazon clients are expecting a deal!

8. Monitor competitor activity and adjust strategy accordingly

It’s also important to monitor what other sellers are up to. What kind of deals are they providing? Can you ensure your discounts and promos are sweeter?

Stay careful, though! Do not click on their listing if your competitor owns the Buy Box. Even if you don’t buy anything from this seller, you improve their page views, growing the Buy Box percentage. Thus, you’re only growing the chances of them having the Buy Box longer.

EXTRA TIP: Use SellerSonar for competitor research and monitoring. With this tool, you can easily compare your product pages to your competitors’ listings. It provides valuable information such as price, rating, review quantity, listing descriptions, bullet points, and images. This helps you identify areas where you can gain an advantage over other sellers. 

Just apply this code for any yearly plan during the purchase by Aug 31st!

9. Address negative reviews and feedback

Prior to AMZ Prime Day, you should manage the negative feedback and begin engaging with your clients on the platform. It will allow you to win the trust of possible buyers and grow confidence when they buy your items— answer questions and fix issues.

10. Create a buzz on social media to drive traffic and sales

Generating a social media buzz is a great way to start advertising your brand, your products, and even AMZ Prime Day. Use lifestyle images and interesting content to draw your target audience’s attention and make them aware of your discounts.  

Another Amazon platform promotion tip is to make the most of influencers and opinion leaders. They are treasured by companies, as they might impact a new audience to choose your business. Usually, people tend to buy something if one of their favorite bloggers has promoted it online. Besides, the marketplace makes it easy for sellers to get started, as it offers its Influencer Program, where merchants can find a broad range of opinion leaders to connect with.

EXTRA TIP: Do not forget to include Prime Day-relevant hashtags when advertising your products and brands on social media. Add: #PrimeDay2024 #AmazonPrimeDay #PrimeDayDeals

What to Do After Amazon Prime Day?

By taking the below post-Prime Day actions, you can effectively analyze your performance, optimize your listings and marketing, and manage inventory. All this allows to strategically plan for future events, setting yourself up for continued success in your Amazon selling journey.

Revise pricing and promotions based on sales data

Your prices must be corrected when the dust on AMZ Prime Day is settled. Prices you reduced to compete with other sellers may be returned to normal levels. Contrarily, goods that did not sell during the event should get lower, especially if they’re not moving well and you are attempting to clear them out. Anyway, repricing within a few days after the event is necessary to keep momentum and evade a post-sale transaction dip.

Reassess advertising strategy

The rule mentioned above also applies to promo campaigns. You can usually return your AMZ PPC campaigns to normal levels after the sale. However, you might also need to adjust some strategies depending on how various goods are performed. Also, don’t forget to revise your ad campaigns to reflect the post-Prime Day landscape and your budget.

Settle inventory and shipping issues

Sending inventory to the platform’s warehouses isn’t an exact science. It’s especially true for busy seasons like Prime Day when some items perform far better than you expect and other goods perform much worse. Refilling understocked products as fast as possible will help you not to lose sales. Similarly, removing or repricing overstocked merchandise will allow you to avoid being struck by FBA storage fees.

Conclude and plan for future sales events

With comprehensive tracking tools, you can have a bunch of great statistics to analyze after the event. You will see what performed well, what did not, and the profit margins on your best and worst-performing goods. It does not feel like the winter holiday season during the hot summer. However, the fourth quarter is already around the corner. Leverage your wins and failures within Prime Day 2024 to adjust your advertising, product creation, and inventory decisions ahead of the next big merchant event when the fourth quarter begins in October.

How to Make the Most of Amazon Prime Day in 2024 with SellerSonar

Introduction to SellerSonar

SellerSonar offers advanced Amazon automation software to increase the performance of your selling business. It includes product listing monitoring, FBA fee calculation, and seller data analysis. It is the ultimate comprehensive service for protecting and increasing your sales within a single tool. In short, it is a one-stop software to help you take advantage of Amazon Prime Day.

How SellerSonar can help you optimize and automate your Prime Day strategy

By leveraging SellerSonar features, you can streamline your Prime Day strategy, optimize your pricing and listings, make data-driven decisions, and automate important tasks. It helps you save time and effort while maximizing your sales and profitability during this key sales event.

SellerSonar can track and analyze competitor pricing, allowing you to identify opportunities to adjust your prices and remain competitive during the sales event. By automating the monitoring process, you can quickly identify pricing trends and make timely adjustments to maximize sales and profitability.

Buy Box Price

In addition, the software can help you optimize your product listings by providing insights on keyword rankings, content performance, and customer reviews. With this information, you can identify areas for improvement, optimize your pages, and enhance your visibility during Prime Day.

Finally, SellerSonar sends real-time alerts and notifications about critical changes in competitor listings, pricing, or rankings. It allows you to react promptly and adjust your strategy accordingly, maximizing your chances of success during Prime Day.

Want to learn more about the SellerSonar service? Sign up for a free 29-day trial.

Conclusion

Prime Day is going to bring the best of eCommerce shopping to clients across the globe. Amazon merchants who have done the homework and prepared for the big event have lots to get. We hope you find the above tips helpful for reaching your most profitable Amazon Prime Day ever!

FAQ

What is Amazon Prime Day, and when is it happening in 2024?

Amazon Prime Day is an annual shopping event exclusively for Amazon Prime members. It offers significant discounts, deals, and promotions on a wide range of products across various categories, such as electronics, home appliances, fashion, and more. The specific date for 2024 has not been officially announced. However, based on previous years, it is anticipated to occur during the summer months.

How can sellers prepare for Amazon Prime Day 2024?

To prepare for Amazon Prime Day 2024, sellers should stock up on inventory, optimize their product listings, plan marketing strategies, monitor competitors, and enhance fulfillment capabilities. These steps will help sellers meet the surge in demand, attract customers, and ensure smooth operations during the event.

What are some tips and tricks for optimizing my listings and generating product reviews ahead of Prime Day?

Enhance your product listings with compelling yet clear titles, descriptions, and bullet points as well as high-quality images and specifications to inform customer purchasing decisions. Stay ahead of competitors by monitoring listing changes with tools like SellerSonar and making necessary adjustments. Finally, request reviews from customers through Amazon’s feature or automated email follow-ups, and consider offering incentives, but ensure compliance with Amazon’s policies on incentivizing positive reviews.

What should I do after Prime Day to revise my pricing and reassess my promo campaigns?

After Prime Day, analyze your sales data and monitor competitor pricing to make necessary adjustments to your pricing strategy. Reevaluate your promotional campaigns based on their effectiveness and seek customer feedback to gather insights for improvement. By staying informed and making data-driven decisions, you can optimize your pricing and promo campaigns for better results in the post-sales period.