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Product range and prices for Prime Day have already been fixed for around two months
Savings must be at least 15 percent
Sellers profit sustainably through a significant increase in traffic
Amazon Prime Day is still worthwhile. Numerous rumors surrounding a lack of benefit from such special discount promotions turn out to be untrue upon closer inspection. Stefan Gutheil, founder and CEO of Amazon agency ICONIC SALES, explains in detail why Prime Day, which takes place this year from July 11 - 12, can definitely pay off for both sellers and buyers.
"The deals for this year's Prime Day have already been set for a few weeks. Retailers had to commit to products and prices in the period from April 20 to May 19. After that, participation was no longer possible. Consequently, it may be worthwhile to research which items were particularly hot during this period in preparation. Brand-new products that only came onto the market after the deadline are accordingly excluded," explains Stefan Gutheil.
"Deal prices had to be at least 15 percent below the reference price of the last 90 days by the cutoff date to even be approved as a deal. Here, too, it can be useful to track the price development of certain products," the Amazon expert recommends. During Prime Day, discounts of up to 27 percent or more can be realized - far greater savings than on other promotional days like Cyber Monday or Black Friday.
By 15.06., retailers finally had to ensure that the goods were booked into Amazon's warehouse and reserved for Prime Day. A short time later, the general public learned of the exact date of this year's Prime Day. On June 21, the date was announced. Before that, the date was an internal Amazon trade secret.
"Participation can be very lucrative for companies and offer benefits in several ways," Gutheil knows. "Even with a negative contribution margin for individual products, participation is worthwhile in order to make effective use of the high traffic and to be visible with the brand. This is because Amazon's visitor numbers already rise significantly in the run-up to Prime Day. Resourceful customers prepare for the big day and add products to their shopping carts or put them on watch lists.
The high traffic generated by special offers also provides a strong push for the organic ranking of the products. Deals mean attention, which in turn inevitably leads to increased interaction on the product detail page, which then ultimately ensures increased sales. The increased conversion thus achieved in turn generates a ranking boost.
It should also not be neglected that deals on individual products in the portfolio can also benefit the entire remaining range. Appropriate variant offers, cross-selling promotions or modules in the A+ / Brand Store can direct the high traffic of the deal products to the complete product portfolio. In this way, deals not only provide a push for individual products, but also for the entire brand in the case of strategically targeted promotions.
BILD and idealo.de compared the prices of 24 different products. With Stefan Gutheil's discount forecast on Amazon he has in the article in the BILD newspaper " hit the bull's eye.
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