One of the busiest online shopping days is just around the corner, and, no, it’s not Black Friday. It’s not even Cyber Monday. It’s Amazon’s big summer bonanza sale known as Prime Day! Back for its fourth year, Prime Day offers fulfilled by Amazon sellers the opportunity to multiply their sales and attract new customers through special offers.
If this is your first year as an FBA seller during Prime Day, you’ll want to make sure you and your shop are good and ready. Why? Let’s take a look at some statistics for a moment. On Prime Day 2017, over 3.5 million toys were sold, worldwide; more than 200,000 dresses were sold in the United States; and customers bought more than 200,000 light bulbs. Some shops even reported a 26% boost in sales during the week of the big sale. Excited yet? We sure are! Before those sales start rolling in, there are a few housekeeping items to check off your list so you’re prepared for the big day.
Take stock of inventory.
Before you can stock up your store with plenty of goodies for Prime Day shoppers, you’ll need to assess your current inventory. Which items are your best performers, and which ones are the slow movers? Your Inventory Performance Dashboard will tell you everything you need to know. Make sure you have plenty of top-performing inventory ready to go, and shift out that aging inventory to make room. Which leads us to our next point…
Make some room.
For a limited time, Amazon is offering FBA sellers free removal of slow-moving or aging inventory from U.S. fulfillment centers. Take advantage of this great offer to help make room for your more in-demand products. To do so, in Seller Central, go to “Manage Excess Inventory” for Pro sellers or “FBA Inventory Age” for individual sellers. Choose the “Create removal order” option from the menu next to any item in your inventory.
In addition to making room for new inventory items, this keeps you from paying storage fees on old or slow-moving inventory. You should know, however, that removals during promotional and peak periods may take longer than the usual 10 to 14 days.
Stock up!
Use your Inventory Performance Dashboard to assess how much of each featured product you have in stock and how much you need to order. Shipments should arrive at an Amazon fulfillment center by June 26th to be on time for Prime Day.
Price accordingly.
Use this well-known super sale to offer rock bottom, head-turning discounts on featured items you know your customers love. Be careful not to spill the beans too early. Wait until Prime Day to announce your best price so competitors don’t have a chance to one-up you.
Get the word out!
Advertise on Amazon through Sponsored Products and Headline Search Ads. These pay-per-click ads are customized to appeal to shoppers who are looking for products like yours using relevant search terms. Don’t forget to promote yourself as well! FBA sellers should receive an email from Amazon that includes a social media toolkit with suggestions that will help you build buzz for the big day.
Millions of shoppers worldwide search for deals on Prime Day and the days leading up to it. Do your prep work now for one of Amazon’s busiest shopping days of the year, and you won’t be scrambling at the last minute or sitting by and watching your competitors rake in the sales.
We’re always here for you with the tips you need to find success selling on Amazon. Whether you have a quick question we can answer or you want full-scale private coaching for private labeling and selling on Amazon, reach out any time and we’ll be there.
