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.
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 acronym ‘CRaP’ was created by Amazon internal teams to identify products that would be unprofitable for the company to sell on its eCommerce marketplace. In recent years, the CRaP list has become an arena for the competitive battle between Amazon and the CPG brands it has been courting for long.
Amazon Prime Day, 2021 is fully underway with tons of exclusive deals and offers. As you know, Prime Day is an annual shopping mega-event aimed exclusively at its paid subscription program’s ‘Prime’ members, delivering two days of deals on products and services from Amazon brands, SMBs, and leading brands. Prime Day started on June 21 … Read more
TOP 15 AMAZON RETURNS TREND & STATISTICS:
The value of returned products is around $50 billion, which is 25%-30% of total e-commerce sales in 2020.
The top categories for returns were parts, apparel, home improvement, and housewares.
At least 30% of all products ordered online are returned compared to 8.89% in brick-and-mortar stores.
Based on several different eCommerce studies, the average shopping cart abandonment rate is 68.81%…..
Estimated reading time: 10 minutes. Folks! Mark your calendar for Amazon Prime Day Oct 13 – Oct 14. After much anticipation and conjecturing due to Covid-19 related uncertainties, Amazon shifted the event from July to an October setting with events lined up in at least 19 countries, including the USA. Oh, boy! The shoppers and marketers are … Read more