We're deep in the midst of getting our clients ready for Prime Day 2019 with strategies to help them maximize profits and jumpstart sales when Amazon's digital aisles light up on July 17.
Last year, the 36-hour deal marathon was the largest global shopping event in Amazon history. More than 1,000,000 deals were offered to Prime members, and 100,000,000 products were sold.
Since its start, Prime Day has consistently been the 2nd-highest grossing retail holiday on Amazon. The chart below tells a story that's familiar across categories: that giant mid-year spike is Prime Day, dwarfing every other seasonal moment except Black Friday.
Amazon gives brands a number of ways to partake in the deal-making and sales-spiking. Many of our clients focus on coupons, but Lightning Deals can offer significant returns if your projected profitability and business objectives align.
Here's a snapshot of Amazon's latest Lightning Deal eligibiltiy requirements for Prime Day 2019:
> Pricing: Lightning Deals must have a per-unit funding amount that supports a discounted price of 20% or more. The discount must be at least 20% off the current Amazon retail website price, at least 5% lower than the lowest price in the past 28 days, and the lowest price as of January 1, 2019.
> Demand Planning: The product must be projected to sell more than Amazon's minimum customer demand (determined by Amazon's proprietary forecasting model).
> Ratings: The product must have a rating of 3 stars or higher, with at least 5 reviews on the date of submission.
> Timing: The selected start date must be at least 4 weeks ahead of the date that you submit the promotion. (Submit your Lightning Deals by May 10th this year to qualify.)
You only have a few weeks left to lock in your Prime Day promotional strategy, and we have the tools, tips, and teams you need to make this your best Prime Day yet.