Blog Update: Amazon officially confirmed 10/13 and 10/14 for Prime Day on Sunday September 27th. Frustration among brands continues to grow as Amazon remains oddly silent and cryptic even to its biggest partners regarding Prime Day. The latest hints come from multiple sources including the Verge, CNBC, and even Amazon themselves.
The original October 5th placeholder is less than 12 days away so it's unlikely they'll try and hit that date. It's important to not that as of today, Amazon has not confirmed October 13th.
The most recent evidence that it will be between October 12-15th:
- Amazon has restricted time off at the warehouses beginning the 13th (source CNBC and CNET)
- Lightning deals are blocked off after the 11th. Normally you can select multiple weeks out
- Internal Amazon sources have hinted to Yeoman that it will likely be this week (to avoid hitting Halloween)
So why all the secrecy? It's quite simple, they're not ready yet. Amazon's volume has exploded since the pandemic and has been working non-stop to try and get their warehouse and shipping capacity under control. Adding in a surge day like Prime could set them back to their April levels, when customer frustration was at a peak. Regardless of whether or not the date changes again, this is a great opportunity to do a pre-run and warm up for the holidays. Yeoman has 10 key recommendations for brands:
1. Sweep and update your content
2. Revised and refresh your stores page
3. Start doing Amazon posts
4. Rebuild and re-assess your AMS Bidding strategy
5. Test out (or expand) new headline ad options including video
6. Fill your FBA stock levels to their preset max
7. Test out your FBM or SFP capabilities and capacity
8. Roll out virtual bundles
9. Consider testing coupons (vs Prime exclusive discounts) during Prime Day
10. Revisit margin on a per item basis (including FBA costs) and reset price levels before Prime Day
Prime Day will be a great indicator of the likely volume a brand can expect to see during the holiday. We all know that Amazon is likely going to experience mass sellouts due to the current limitations on FBA and 1P purchasing. Understanding if your brand will sell out (and when) is going to be key to having 3rd party of FBM back-ups to fill the gap.
Most brands that Yeoman works with are experience double and triple digit growth on Amazon right now. Big discounts and overspending on AMS aren’t the right strategy; proper planning, logistics, and strong pricing plan are the key to maximizing margin and sales this holiday.