Pre-Prime Day preparations for sellers for Amazon Prime Day

As of this year, it seems that Christmas will be held earlier this year. Well, digitally speaking. Thanks to this year’s Amazon Prime Day event. The retail giant’s much-awaited mid-year event. A shopper’s retail paradise. Where customers can score deals, that are only limited to the retail giant’s annual holiday. All are exclusive to Amazon, where both prime and non-prime members can avail themselves. But as for the sellers, a large volume means a possibility of huge profit. But take note, with all the commotion and madness. Whether a novice or a veteran in the business, there will always be instances of missing out on huge profits and even maximizing the amount of traffic. It’s almost like hunger games, where participants (sellers) are competing for that one goal. Customer’s attention and money.

That’s why here are some tips and tricks to make the most out of Amazon’s waited retail event.

1. Plan ahead, Do your Research

 – And develop a good strategy too. You don’t go into a war, without planning, would you? It’s like bringing a knife, to a gunfight. Or in this case, loss of profit. When it comes to being under one of the biggest retailers in the world – Amazon. Planning is crucial. To discuss how will you be able to deliver, promote and sell the product before the big day. Planning also enables pinpointing potential disadvantages and weak points in your strategy. Like how to handle returns, offer deals, and increase revenue.

 

2. Data, and Data.

– With the popularity of social media, like Instagram, Facebook, Twitter, etc. Where In this digital era. Social media platforms became a juggernaut when it comes to marketing in e-commerce. In retail, especially in the world of e-commerce. Data is gold. With data & analytics, it gives you a picture of how your clients behave and what are their shopping behavior or buying habits. In addition, with the right tools, data can be a good baseline of jumping point in predicting consumer trends, predicting potential revenues, better customer service, and aid in decision making. Thus helping you on how to efficiently run business and improve on areas like restocking logistical needs and challenges and even a much better-personalized shopper experience. Data can also reveal which products are; always on demand, products that are popular on and off-season, and always a hot ticket item before the Holidays or during the holidays, like Prime Day.

3. Check your inventory

– When it comes to preparing for such an e-commerce event as Amazon Prime Day, make sure to stock up on the popular items that are in your inventory. The last thing you want to happen is to have your best-selling items run out, during the prime event. Make sure you have enough stocks to last the whole prime day and have enough to extend it throughout the holiday season.

4. Check your return policies.

– No matter how good your product is. There will always be some shoppers that will be returning some stuff after the holidays. It’s only natural and you should be expecting returns. So, make sure you have your policies and refunds in order. It also pays, to extend your return policy, so will have time to deal with the commotions that happen when returning things. In addition, this is also a time to establish a good connection with your clientele. Be open to communication for both ends.

 

5. Creative Promotion

– If your product is good, that is already enough promotion. At the same time, that is true, in most cases, especially if you are a big retailer or seller. But for small or independent retailers, that can be a quite challenging task. To start, make use of social media as one of your platforms (Instagram, Twitter, or Facebook) for promotions, Not just on Amazon. Or It can be paying someone to post about your product or to have someone leave a review. Another creative way to promote your products before Prime Day is to offer deals and maybe early access to the products pr limited deals for the first 100 customers or so. In addition, product inserts, coupons, and product codes, through promotions or printed media in your packaging can be a great addition to your promotion. Do something that will allow your products to stand out from the rest. Be creative, Be bold.

 

6. Scout your enemies

– Or in this case, your competitors. Make sure that your pricing will be competitive. Not enough to you will lose money in the process just to have a sale. Or high enough, that you will lose customers over time. But of course, it depends on what your strategy is. If you want to lure in shoppers, it can be an excellent thing to price it a little bit lower than your competitors. If you need data. Pricing and pricing it differently from your competitors can be based on a multisided of factors. So market research is extremely important. In addition, there is also the long-term factor. You can’t just completely rely on your competitors for the most part. Because they too could also be innovating and developing price strategies, that may leave you to bite the dust in the future.