Prime Day: Should you participate and How retailers are creating their own holiday

Amazon Prime Day is fast approaching. With all the lockdown madness that has been happening over the past few months, retailers are now looking for creative ways to sell their products online. Prime Day is a great opportunity to make deals and make extra money, but Amazon’s rising seller fees and competition might make it less attractive.

What’s all the hype?

Amazon Prime Day is one the most talked-about sales events of the year. The 2019 event was a great success. Prime users were very positive on social media during the build-up to Prime Day. Sales and membership sign ups went through a roof. Amazon claims that Prime Day attracted more membership sign-ups than any other day and sold more units than any other day.Black Friday Sales Record.

Although the official date for Amazon Prime Day 2020 in the US is still unknown, all indications point to the marathon of deals being moved to August, rather than taking place in mid July, as reported byTech Radar. Prime Day is still being held, so existing resellers can take advantage of the sales event. But for those who don’t sell on Amazon yet, is it worth the hype?

Prime Day’s Drawbacks

Prime Day is a highly talked-about sales event, but many consumers are not aware of it.Who shopped Prime Day?Eventually, they used the hashtag #PrimeDayFail to complain on social media. Many technical problems, out-of stock merchandise or sales on items no one uses really existed.

The listing prices are another factor to be considered. According to aSellics Prime Day GuideThe first two years of the sales event were free to sellers. However, in 2017, Amazon added a $500 registration fee for Lightning Deals. Sellers who are new to Prime Day may be discouraged by the high cost and worried about how many sales it will bring in. Amazon lists so many products that even if brands spend a lot of money advertising, they will be lost in the sea of similar products.

Create Your “Prime Day”

Amazon is not the only retailer that offers its own sales event. Walmart held their “Google Week” last year. It ran from July 8-16 and featured limited-time deals on Google Products. Target, Macy’s, and eBay all took notice of Amazon’s Prime Day success. They offered their own mid-July deals to attract online shoppers.

Customers expect retailers to offer their own deals and discounts on Prime Day. This is because the likes Walmart, Target and Best Buy have their own Prime Days to compete with Amazon. Because of the number of deals, analysts are now calling this “Black Friday in July”.

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How to do things right

Retailers will face obstacles no matter what when they host any type of sales event. Some consumers were upset by Prime Day, and created their own hashtag failure on Twitter. However, the event still sold more units that the largest Black Friday sales event. This speaks volumes about Amazon’s handling of things.

Amazon was able to offer Prime Members a special sales event. This is because Prime members are the only ones who can access Prime Day. You can get your customers to sign up to your loyalty program by offering them special deals and engaging with them through events such as Prime Day.

Retailers need to plan for different marketing strategies. Prime Day wasn’t built on one social media post. As any brand would market Black Friday, special sales events should be promoted just as they would for Black Friday. Customers won’t expect it to come like Black Friday. Your brand’s “Prime Day”, if you make your loyal customers feel special and use the right marketing techniques, could be very successful.