A lightning deal is a type of flash sale which appears under a section on Amazon’s homepage called ‘Today’s Deals.’ Here, consumers will find limited quantities of products that are steeply discounted and must be claimed within a specific time.
Thousands of these deals are run every day, but the question is, would your brand benefit from a lightning deal? Here are some things you should know:##
In order to qualify as for a lightning deal, your product needs to be discounted. While these can sometimes be as little as 15%, Amazon wants to offer customers the most appealing discount possible. That’s why they typically expect to see discounts of at least 20% off the normal sale price.
On the product page, you’ll see three different numbers. This will include the usual price, deal price, and the discount percentage.
Each deal only has a limited time frame- often around six hours. The listing and the main page will both have a countdown showing how much time is left, and if a customer adds your product to their cart, they only have 15 minutes to finish checking out or it’s removed.##
Each lightning deal only includes a predetermined quantity of stock. Customers can’t see how many products this is, but they can see the percentage that has been bought by other customers, and the percentage left. These deals are also only limited to one product per customer.
The lightning deal ends when either all of the items have been sold, or the timer has run out.##
How to Take Part in Lightning Deals
Amazon has some strict rules in place which regulate which sellers are able to use lightning deals. These rules include:##
Your products must be fulfilled by Amazon in order to be a part of lightning deals. They also need to have a minimum rating of at least three stars. Amazon also has an extensive list of items that are not eligible for these deals, including adult products, alcohol, medicines, e-cigarettes, baby formula, and more.##
Amazon requires that products have a variation in style, color, size etc.##
You’ll be allocated a minimum deal quantity which you need to have ready to go seven days before the lightning deal runs.##
The fee charged will vary based on the week your deal is run, and what’s happening in the marketplace. You can expect to pay more during popular times of the year like Black Friday etc.##
You can submit a week you’d prefer to run your lightning deal, but the decision is ultimately up to Amazon, which will let you know the specific day and time.##
Is Running a Lightning Deal Worth It?
There are a number of things to consider before you run your first lightning deal. For example, you may find that the sale actually cuts into revenue- or you make a loss. But, the increased volume of sales you get from the deal may help boost your reputation as those customers tell their friends and family about your product or leave reviews.
You’ll also enjoy many more impressions if your product is featured on the deals page. That means that you’ll benefit from brand awareness, and people who may not buy your product at the time may put it on their wishlist for when they need it at a later date.
Not to mention, your other products will also often see a boost in sales as potential buyers check out other items in your catalog.
Want to learn more about marketing your product on Amazon? Get in touch today.