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.
Generative AI presents a remarkable opportunity for CPG brands to gain a distinct competitive advantage and spearhead their digital transformation efforts. Here are few key areas where I believe Generative AI and Advanced Analytics can play decisive roles for Brands-
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.
The price of a commodity depends on the interaction between supply and demand in a market – called the equilibrium price. A key concept in this theory is price elasticity of demand, which explains how changes in prices affect consumer demand.
Headless Commerce, however, is not only a paradigm shift; it is a revolution. By using it, merchants can develop online stores without building their storefronts. Developers can build coordinated, brand-consistent experiences across channels using e-commerce platforms with speed, scale, tool usability, APIs, and integrations with third-party tools. Design and UX teams can prioritize enhancing the customer experience and interface to increase conversions, while technical teams optimize the user experience and interface.
Adding to the three most popular retail delivery models already available- doorstep, drop-off, and curbside we now have a newer entrant to the list – “Direct-to-Fridge”!
Going with the theme of massive innovation on the retail front, Walmart is expanding its direct-to fridge InHome delivery service. This ‘direct-to fridge’ is a clever spin on ‘home delivery’ where a Walmart associate brings groceries directly to a customer’s refrigerator.