As an Amazon seller, whether you have participated in Prime Day in the past, or you’re considering it for the first time, you’re probably very aware of the massive marketplace event. With omnichannel advertising campaigns promoting unprecedented deals, limited availability, Amazon creates a sense of urgency to buy and buy now.
The data shows the event’s popularity has experienced steady and substantial growth over time. In 2021, Prime Day sales grew to $11.19 billion. By contrast, Cyber Monday sales for the same year reached just $10.7 billion, making Amazon Prime Day one of the biggest, if not the biggest, ecommerce sales events in the United States. And, because of its past performance, we fully expect Prime Day 2022 to achieve even greater sales.
At Pattern, we’ve developed a data-driven revenue model for brands: traffic x conversions x price x availability = revenue. Our teams implement this model time and time again to improve brands’ performance on marketplaces like Amazon. When every aspect of the equation is optimized, your products are positioned to grow their profitability.
Prime Day focuses our efforts for brands on optimizing traffic because as you increase the traffic to your listings, you improve your ability to generate revenue.
Simply put—everyone wants a deal, and Prime users wait all year for Prime Day exclusively for lower than normal promotional prices. So shoppers show up in greater numbers during Prime Day. With a projected 153 million Prime users in 2022, the audience and opportunity that comes with Prime Day is quite significant. In fact, Amazon reports a 216% increase in awareness and 214% increase in consideration for brands that advertised throughout all phases of Prime Day.
Other ecommerce retailers have taken notice, too. Amazon’s Prime Day has become so powerful in driving overall retail traffic that traditional brick and mortar shops now plan their own promotions around Prime Day, hoping to take advantage of deal-hungry customers. In addition, rival marketplaces have started launching their own version of the sales event, with Walmart creating Walmart+ Weekend, and Target creating Deal Days.
It’s evident that where there’s smoke, there’s fire and where there’s deals, there’s customers.
As more brands and marketplaces take note of the opportunities that Prime Day brings, it’s important that you stay competitive and strategize to take advantage of the event’s benefits too. Below are two reasons Prime Day traffic is a significant bonus to your brand and you should be prepared to activate your own brand efforts timed to Prime Day promotions.
As an Amazon seller, Prime Day drives cheaper, higher-volume traffic to your advertised products than you can get at any other time. Amazon’s investment in Prime Day’s success is a win for all sellers—as they say, a rising tide lifts all ships. Amazon reports that 71% of shoppers learn about new brands leading up to Prime Day, and 75% are likely to purchase a product during Prime Day they discovered during the lead-up to the event.
Brands that choose to run deals and ads during Prime Day can be part of Amazon’s own advertising without having to spend any extra advertising dollars to get directly in front of its Prime customer base. WIth our long history, fundamental knowledge of, and deep relationship with Amazon, Pattern can help its brands attain these coveted spots.
In addition, brands pushing Prime-Day-Exclusive deals can also show up on category deal pages and under the Prime-exclusive deal filter, two new ways for consumers to discover your brand. In turn, being listed in deals pages and filter increases the likelihood to gain new traffic because of Amazon’s investment in advertising participating products.
Considering the large number of products available on Amazon and the benefits of free, fast shipping for Prime members, customers are increasingly turning only to Amazon to shop. In a survey of 2,000 U.S. consumers, 89% reported being more likely to buy products from Amazon than other ecommerce sites, and the number jumped to 96% of Amazon Prime members.
It is highly unlikely that this amount of traffic would end up on your direct-to-consumer site, so capturing them on Amazon may be the only way to win their business. When pushing a Prime Day promotion, you’re not taking traffic away from your website, you’re adding consumer traffic you would have missed.
As an ecommerce accelerator, and one of Amazon’s top sellers, our brand and advertising experts know how the event can generate new traffic opportunities for your brand and how to take advantage of Prime Day traffic. Increasing traffic is one of the key parts of the ecommerce equation. When multiplied by conversion, availability, and price, we know higher traffic drives profitability for your brand.
As a Pattern partner, we leverage our data-driven insights from years of experience on Amazon as well as our premier leadership position on the marketplace to put your brand ahead of the competition, on Prime Day and beyond.
Are you ready for Prime Day? Get in touch today.
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Entering the ecommerce landscape is a huge undertaking for any brand—it usually requires a large investment in resources and expertise to really be successful. Any brand can quickly get in over their heads trying to navigate the nuances of SEO, fulfillment and logistics, distribution control, listing optimization, and meeting the numerous other requirements and administrative tasks to show up well on marketplaces.
Unfortunately, because it’s so easy for third party, gray market, and unauthorized sellers to obtain and sell products online, many brands find themselves pressured to execute an ecommerce plan without the right resources to succeed on marketplaces and their other channels.
So, for brands looking to enter the ecommerce space or improve their current and future performance, it makes sense to partner with an ecommerce consultant.
Pattern’s global presence and proven success with hundreds of brands has allowed us to develop highly effective ecommerce consulting services. We can guide your brand to navigate issues both large and small in marketplaces worldwide. To maximize your ecommerce efforts, you’ll need to understand what an ecommerce consultant does and how to select one who drives the right value for your brand and products.
An ecommerce consultant is a specialist in the ecommerce space who can give you personalized guidance on how to market your products and grow their presence on digital marketplaces.
An ecommerce consultant should be able to analyze your brand, audience, category, opportunity, and current roadblocks and help you understand how to utilize your resources (or what resources are missing) to be most effective in capturing your opportunities in the ecommerce space.
Not sure how to evaluate a consultant? Here are 4 key attributes to look for as you make your choice.
At Pattern, we prioritize brand obsession for a reason—we know that a brand-centered mindset makes a crucial difference in the outcomes and results our partners achieve. So in our experience, when you begin your search for an ecommerce consultant, it’s important to look for a partner who is specialized in ecommerce, invested in the product, and passionate about helping brands build and improve their strategies. Typically, this means finding someone that consults exclusively for ecommerce marketplaces, rather than choosing a consultant who offers many different services.
It’s also important to avoid choosing a consulting partner who can’t deliver the right experience for your brand. The best indication of whether your potential consultant can do that is to review their history, data, and results with other brands. Ask if they’ve helped others in your selling category, if they’ve solved specific issues your brand is facing, and why they feel you are a good fit. The key is to leave the conversation feeling confident that you understand your consultants’ capabilities and whether or not they match up with your needs.
It’s best to pick a consultant who knows how to guide a brand onto and through multiple marketplaces worldwide. You’ll want to take a look at your long-term strategy and think about the regions and platforms you’re currently on and where you might want to take your brand in the future. If your consultant is truly great at what they do, they’ll be able to help you perform well enough with your current product roadmap that it’ll be a no-brainer to expand your presence at the right time.
The most effective partnership with an ecommerce consultant will be able to give you both recommendations and point you to solutions for making those changes in your planning, processes, and execution. Your time and money is valuable, so you want to make sure that you’re spending it as efficiently as possible as you follow your consultant’s advice. So, before you commit to an ecommerce consultant, ask about the resources and concrete solutions they typically recommend to the brands they work with.
Finding an ecommerce consultant that checks the boxes can be a difficult task. At Pattern, our entire focus and drive centers around giving brands the tools and resources they need to succeed on domestic and international ecommerce marketplaces.
With over 100 global ecommerce consultants across 10 global offices, we have the right tools to partner with brands across the world to achieve better ecommerce success. We give specialized advice, then make sure our partners have all the adequate SEO, social media, CRM, Amazon multi-channel fulfillment services, and ecommerce outsourcing services they need.
Interested in ecommerce consulting services? Set up a call here to learn what Pattern can do for your brand on global marketplaces.