Amazon Prime Day 2024

Prime Day is a special Amazon shopping event, offering significant discounts on a wide range of products. It is exclusive to Amazon Prime members and typically occurs outside of the traditional Prime Day event, often in the fall, around October.

The idea behind Prime Day is to give Prime members access to early holiday shopping deals, offering significant discounts on electronics, home goods, fashion, and more. It’s part of Amazon’s strategy to spread out sales events throughout the year, providing more opportunities for consumers to find deals before major shopping seasons like Black Friday, and Cyber Monday.

Key features include:

• • Exclusive to Prime members: You must be a Prime member to participate.

• • Early access to holiday deals: It’s designed to help shoppers get ahead of the holiday rush.

• • Wide range of discounts on many categories, including electronics, home essentials, and fashion.

When is Day in Fall 2024?

Prime day in fall (also known as Prime Big Deal Days) for 2024 are expected to take place in October (most probably on 8^th and 9^th October), though the exact dates have not yet been confirmed. This is a newer sales event, typically positioned as a fall version of Prime Day, offering

Eligibility to enroll in Prime day:

Significant discounts across various product categories exclusively for Prime members. You must meet the following criteria to be eligible for Amazon Prime day event.

• • Professional Seller Account with a minimum 4 star seller feedback rating.

• • Prime-Eligible Inventory: Your products need to be enrolled in Fulfillment by Amazon (FBA) or be Seller Fulfilled Prime and all the  products must be eligible for Prime shipping in all regions within the country.

• • All products must have minimum 4-star rating 

• • Products in new condition only.

• • Items compliant with Amazon’s policies on product reviews, pricing, and deals.

Why Planning for Prime day?

              1. Increased Sales Volume
Prime day is one of the biggest shopping events of the year, and Amazon sellers can expect to see a significant increase in sales during this time. In the 2023 Fall Prime Day Amazon reported that sellers collectively generated over $10 billion in sales

             2.  Boost in Ranking and Review
Increased sales during Prime Day can improve your product’s ranking in search results, leading to sustained visibility even after the event. More sales often lead to more reviews, which can enhance credibility and attract future buyers.

             3.  New customers
Prime day is a great opportunity for Amazon sellers to reach new customers. Many shoppers are looking for the best deals on a wide range of products during this time, and Amazon is a popular destination for shoppers.

Challenges of Prime day:

1. 1. Increased Competition:
      With many sellers and brands offering discounts, standing out can be tough. Sellers need to offer competitive deals and provide excellent customer service in order to stand out from the competition.

2. 2. Inventory Management:
      Ensuring you have enough stock to meet potential demand is critical. Amazon sellers need to be prepared for an increase in shipping demand during Prime. Amazon specifically asks FBA sellers to order inventory in advance and ensure it arrives at the fulfillment centers by the end of September due to the peak holiday shipping season in the last quarter. In turn, FBM sellers must work with their shipping partners to ensure their orders are delivered on time.

3. 3. Pricing Strategy:
      Setting competitive prices while maintaining profitability requires careful planning. The discounts offered must be attractive enough to drive sales but still viable for your business.

4. 4. Advertising Costs:
      Increased competition often leads to higher advertising costs. Managing your ad spend effectively to ensure a good return on investment can be challenging. Sellers must make a strategy to adjust bids and daily budgets accordingly to make sure they don’t lose visibility during the event.

5. 5. Customer Service:
      High sales volumes can lead to an increase in customer service inquiries and issues. Preparing your team to handle this surge is essential to maintain customer satisfaction.

How do I enroll in Prime Day?

There are 2 major ways to enroll your products for Prime Day.

1. Enrollment through Deals:

• • On your seller central Click on the “Advertising” tab in the main navigation menu. 

• • Under the “Advertising” menu, find and select “Deals”.

• • Click on “Create a new deal” or a similar option to start a new promotion. You may find options for “Prime Day” or other major events in the list of available deal types.

• • Follow the prompts to set up your deal, including selecting the products you want to include, setting the discount, and defining the deal’s start and end dates. Be sure to specify that it’s for Prime Day if there’s an option to do so.

• • Review your deal details and submit them for Amazon’s approval. Amazon will review and approve deals based on their criteria and availability.

2. Enrollment through Prime exclusive Discounts:

• • On your seller central Click on the “Advertising” tab in the main navigation menu. 

• • Under the “Advertising” menu, find and select “Prime exclusive Discounts”.

• • Click on “Is this a Prime Big Deal Days discount?”.

• • Follow the prompts to set up your deal, including selecting the products you want to include. 

• • Review your deal details and submit them for Amazon’s approval. Amazon will review and approve promotions based on their criteria.

Check out our related blogs:

• Gear Up for Amazon Prime Day 2024: Key Dates & Strategies
• Shall I enroll in Amazon Vine Review Program?
• Codes for Amazon’s Fulfillment Centers