As an e-commerce consultant who assists small business owners, I often get asked: "When is the next Amazon Prime Day?"
I‘m here to give you the inside scoop so you can start preparing now. Whether you already sell on Amazon or are thinking about it, read on for a detailed primer.
When Will Prime Day 2023 Actually Be?
While an official date hasn‘t been announced yet, Prime Day traditionally lands in July based on previous years:
- Prime Day 2022: July 12-13
- Prime Day 2021: June 21-22
- Prime Day 2020: October 13-14
- Prime Day 2019: July 15-16
Though 2020 was an anomaly due to the pandemic, the event has otherwise consistently fallen around mid-July.
It‘s a safe bet to expect Prime Day 2023 landing on a Tuesday and Wednesday in mid-July. I‘ll update this post as soon as Amazon confirms the exact date.
What Kind of Deals Can Small Businesses Expect?
During Prime Day, Amazon spotlights deals across every category, from electronics and apparel to kitchenware. Here‘s a breakdown of the discounts you might see as a seller:
- Up to 80% off Amazon devices like Echo, Fire tablet, Kindle
- 50-60% off name-brand TVs, laptops, phones, appliances
- 40% off clothing, shoes, watches, luggage
- 30% off home items like kitchen gear, furniture, decor
In 2022, third-party small businesses made over $3 billion in sales, up over 100% from 2021. The most popular categories for small sellers were cleaning supplies, skincare, pet products, books, and nutrition supplements.
How Should Small Businesses Prepare for Prime Day 2023?
Boosting sales on Prime Day requires careful planning. Based on what I‘ve seen work extremely well for dozens of small e-commerce clients, here is my recommended strategy:
Step 1: Optimize Your Amazon Storefront
Make sure your Amazon seller central account and storefront listings are in tip-top shape. This includes having excellent product images/descriptions, restrictions and pricing set correctly, top-rated seller status, and Prime eligibility.
Step 2: Run Targeted Sponsored Product Ads
One of the single most effective ways to increase sales is through Sponsored Product ads. In the 1-2 weeks leading up to Prime Day, increase your advertising bid amounts to guarantee visibility for deal-seeking shoppers. Target specific products you anticipate will sell best.
Step 3: Stock Up Inventory
Carefully analyze your sales history over the past 2 Prime Days. Identify your top products, forecast demand, and stock up inventory to meet (or even exceed) that demand. You don‘t want to run out of your hottest items due to exceeding sales expectations!
Step 4: Offer Amazon Coupons or Lightning Deals
Layer on extra incentives like coupons (showing next to the Add to Cart button) or limited-time Lightning Deals (hourly deals with deep discounts). This adds more urgency and savings on top of the already-discounted Prime Day prices.
Real-World Examples and Results
To give you a better idea of innovative approaches that have worked, here are some examples from small businesses I‘ve consulted:
- Pet supply retailer: Ran a weeklong Sitewide Sale leading up to Prime Day, offered extra 10-15% off coupons
- Jewelry boutique: Amped up ads for engagement rings and wedding bands, tapped into peak summer proposal season
- Activewear brand: Created special edition Prime Day collection, saw 2X higher conversion rates on those listings
As a result of executing similar smart strategies for Prime Day preparation, most of my clients see a 300-800% sales increase during the Prime Day peak compared to an average July day.
The bottom line? With the right game plan, Prime Day 2023 presents a huge opportunity for revenue growth, brand exposure, and new customer acquisition. Now get out there are start prepping! Please reach out if you need any guidance.
