As Amazon’s Fall Prime Day 2023 approaches, sellers and consumers alike are buzzing with anticipation. This two-day event, historically held in mid-October, promises exceptional deals, massive sales, and a bonanza of business opportunities. To help you gear up for this special event, we have compiled a comprehensive guide with useful tips for sellers.
As Prime Day approaches, brands have the opportunity to boost sales and establish a strong presence on Amazon. This event serves as a litmus test, reflecting the success of year-long efforts to enhance brand visibility and drive sales.
As a Senior Digital Product Tech Functional Consultant based out of USA, I have seen firsthand the excitement and palpable tension that kicks in for Analysts, Sales & Media teams, Operations teams at 3AM on Prime Day. This event serves as a litmus test, reflecting the success of year-long efforts to enhance brand visibility and drive sales.
The Pink Tax is not an actual tax, but hundreds of products and services have been found to have a pink tax. The name is derived from the fact that many of the items are pink in color – as they are intended for women. Just like Subliminal marketing you will see instances of the Pink Tax being used to boost sales of products and services in subtle and not-so-subtle ways.
Amazon has been a game-changer in the world of ecommerce. They have disrupted the traditional retail model and have become a juggernaut in the online shopping space. Amazon’s success can be attributed to their extreme customer centricity. “Convenience is key”- and the entire business model and mindset is built around this principle. So, any Brand seeking to build and grow their ecommerce channel on Amazon would have to start by taking a page out of Amazon’s book and understand their customers’ needs and wants. Customer personas, journeys and product preferences should be at the forefront of every company’s mind if they want to succeed in today’s ecommerce-driven world.
The term private label or store label refers to products that are sold under a retailer’s brand name but produced by a third party. In most cases, the retailer controls every aspect of the product, including its branding, Pricing, specifications, design, and packaging. Remember that Private brands are made exclusively for a specific retailer and sold in their stores only.
ROAS- Return on Ad Spend is an important metric that allows sellers to calculate the amount of income (or loss) from each invested dollar and evaluate how productive an ad campaign was. Considering only metrics such as clicks, impressions, and conversions can’t adequately tell us what it really takes to be successful with marketing, especially in a competitive marketplace like Amazon. If you analyze an ad campaign, ROAS is a great way to evaluate how well your ads are working, and it can help with any changes you might want to make in future campaigns!