After fits and starts, Amazon Prime Day is now expected to be in mid-to-late Summer. Historically, Prime Day has fallen in mid-July, but we are expecting it to fall in August this year. Amazon has typically announced the exact date for Prime Day about a week prior.
As you know, Prime Day is the biggest shopping event on Amazon, surpassing Black Friday and Cyber Monday combined. Amazon announced that it sold 175 million items in 2019, compared to 100 million items in 2018. 2019 Amazon Prime Day broke records, with sales estimated at $7.16 billion USD compared to $4.19 billion in 2018 (over 70% increase).
For Amazon Sellers and Vendors, the deadline to submit Lightning Deal recommendations to Amazon is June 5, 2020. There are several kinds of deals during Prime Day:
- Lightning Deals are time-sensitive and can be found throughout Amazon.com, and are available on the “Today’s Deals” page. Lightning Deals are available, one per customer, until either the promotion period for the deal expires or all the available inventory is claimed.
- A 7-Day Deal is a time-bound, promotional offer where an item is featured for up to 7 days on the “Today’s Deals” page. 7-Day Deals will also receive a “Limited time deal” badge in search results, driving more visibility to your deal and brand.
- Deal of the Day are one-day only promotions that will appear in the “Today’s Deal” page.
Amazon must approve these deals before they can be applied to your products. The requirements for a product to qualify for these deals includes having sufficient sales velocity (to demonstrate that consumers are looking for the item), having an attractive listing, having appealing prices (at least 20% deal discounts), consistent inventory on-hand, and strong brand recognition. These deals are applied to individual parent or child ASINs, not for the entire brand.
All this means that in order to have a successful Prime Day, Amazon Vendors and Sellers should know in advance which product you want to use for Prime Day, and focus on getting that item’s sales rates up in order to qualify for the deals. You should also start planning how much marketing and promotion budget you want to spend now and on Prime Day. Remember: To be considered for Prime Day, Lightning Deal recommendations must be submitted by June 5, 2020.
Please reach out to us for support! HINGE COMMERCE has an army of experienced Amazon Marketing Consultants, and years of experience with Amazon Marketing Services, Amazon Promotions and Prime Day in general. We can help you to help you get the most out of Amazon Prime Day 2020.
