Amazon Prime Day

Amazon Prime Day

Amazon’s annual exclusive sale is set to take place on the 12^th and 13^th of July. Unlike most high-profile sales, the deals on offer are only for users who have an active Amazon Prime membership. This membership lends its moniker to “Prime” day.

What Can We Expect from Shoppers?

• Reduced Spending – The average shopper plans to spend $388. This is considerably lower than Prime Day 2021, where the average shopper spent $594.
• Waiting for Prime Day – 47% of people said they were waiting from Prime Day to make their biggest purchase of the year.
• Fashion Focused – 38% of shoppers plan to spend money on clothing during Prime Day 2022.

Stats courtesy of RetailMeNot, in a survey of 1137 people.

Small Businesses, Big Rewards

Whilst Amazon is a multi-billion corporation, they are emphasising the importance small businesses have on their platform. Prime members are eligible to win prizes by supporting small businesses. For every $1 spent on eligible small business products between June 2 – July 11, customers will receive the chance to win prizes.

How Merchants can Prepare

In order to take full advantage of increased sales during Prime Day, Merchants selling on Amazon must meet the following criteria:

• Sell your products under the Prime label. To do this you can either sell through “Seller Fulfilled Prime” or “Amazon FBA.”
• Your company on Amazon must have a rating of 4* or above. If you have not received any ratings yet, do not panic as you are still eligible to sell under the Prime Day package.
• Products sold through the promotion must have an individual rating of at least 3.5* or have received no ratings at all.
• The discount applied must be at least 20% of the full non-Prime member price.

As with all sales, Merchants need to take precautions in the lead-up to Prime Day. This includes keeping a full list of the shop’s inventory, optimising the listings, and ensuring there are no supply-chain issues.

Did you know that Cardstream support Amazon Pay as an alternative payment method?

To stay up to date with all the latest developments in the industry, and to learn how Cardstream can help your Merchants, please join our mailing list.