Monthly Archives: May 2024

Are You Ready for Prime Day 2024

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Amazon Prime Day 2024

Brands across the nation gear up for the biggest annual sales event – Amazon Prime Day. The prime day event on the website is an annual feature that offers its Prime members with amazing deals and offers on numerous products throughout the site. Such products are sourced from top brands and third-party sellers.

What is Amazon Prime Day?

Amazon Prime Day is a massive event organised by Amazon that guarantees its members the best products based on their budget and needs. Apart from this, customers can buy items from thousands of small businesses as well.

How did it start ?

The  Amazon Prime Day was introduced on 15th July 2015 as a commemorative event for the brand’s 20th birthday celebrations. Since then the same has occurred every year.

So what exactly is Prime?

Amazon Prime is known for offering the best of entertainment, savings and shopping for its 150+ million global customers and its 300 million active user accounts.

Prime membership also offers unlimited access to top-notch entertainment series, movies and content through its Prime Video platform. Users can also listen to 2 million songs, playlist, stations, etc. through Amazon Music at no additional cost!

That’s not all – users can also enjoy free games through Amazon’s Prime Gaming and get access to 3k magazines, books, etc. through Prime Reading. Prime also offers unlimited image storage through Amazon Photo services.

Tips that a retailer must follow for maximising on Amazon’s Prime Day 

Amazon’s Prime Day is about making preparations for reliable fulfilment, advertising and other aspects to ensure effective outcomes.

However, there are certain areas where you must keep your major focus –

  • Marketing

Marketing your brand is crucial for attaining effective results. To maximize your profits, you should create a strong and unique Amazon advertising technique and schedule the promotions in advance.

Often retailers begin testing their advertising formats, campaigns, etc. to ensure that all shoppers see their offerings with ease.

Further, retailers registered to a specific brand must take advantage of the A+ content. This is crucial as it enables you to cross advertise all products and boost sales. It is also important to increase traffic to your Amazon listings.

  • Sales

Online retailers should effectively optimise on all features, bullets and product titles. This is crucial to increase engagement and drive sales.

It is recommended to try comparing the listings with the competitors. This helps you to understand and plan for what you are up against.

You can also try Amazon Re-Pricer to properly compete with other listings in your specific category. This also has a positive impact on your revenue.

  • Fulfilment

You also need to make sure that your fulfilment is minus issues and errors during the delivery and shipping.

Ensuring this brings a quick and hassle-free fulfilment during the Prime Day.

For FBA, we recommend that you ensure that all your inventory reaches the selected Amazon fulfillment centres on time. You must also set out all the expectations with your team for an effective Prime day sales execution, fulfillment and communication.

How can ChannelSale help you optimise your Amazon Prime Day potential?

ChannelSale equips small and medium-scale online sellers with cutting-edge solutions and expert services. This is crucial for automating product listings, inventory management and order streamlining across leading sales platforms.

Instead of deploying multiple human resources to manage such online avenues, you can choose ChannelSale to optimise your product listings across leading shopping sites. You can also get in-depth product sales performance reports and insights into the best practices to improve your presence.

Conclusion 

Amazon’s Prime Day 2024 event is a popular and crucial event for businesses and Prime members alike. At the event, customers can shop across unique products or items at amazing prices. They will also come across numerous discounts, offers and other savings on categories like electronics, home decor, furniture, etc.

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Amazon US Retail Sales Forecasted to Grow by More than $100 Billion in 2024

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Amazon US Retail Sales

Amazon is transforming US retail and latest estimates peg the same to reach $641.3 billion this year. This is a rise of 19.9% from the previous year.

Projected growth across categories 

The estimates project the following top level physical goods categories that will have the highest YoY growth rates this year on Amazon US

 

Category name Estimated sales (in 2024) Projected YoY growth rate
CDs and Vinyl  $607.5 million  +29.6%
Beauty and personal care products  $36 billion  +26.0%
Pet supplies  $22.6 billion +25.3%

 

For physical goods, the following top level categories are expected to have the slowest YoY growth rates this year on Amazon US

 

Category name Estimated sales (in 2024) Projected YoY growth rate
Books  $9.1 billion  +0.9%
Video games  $5.6 billion  +2.8%
Handmade products  $606.6 billion +3.0%

Understanding the above trends is important for planning and management of your brand growth and success.

What other categories or niches are expected to grow this year?

On assessing the growth trends of smaller niches within the top sellers on Amazon US, the following are noted –

  • Janitorial and sanitation supplies are a fast growing category on Amazon US this year. The same is expected to rise to 176% YoY and is pegged at $1.6 billion.
  • Though grocery and gourmet food category is also predicted to grow at 8.9% YoY but beverages alone are expected to cross $9 billion this year (27.3% YoY). This means that the beverages sales will capture 45% of this total category with previous value of 38.3% in the last year.

What is the most stable category on Amazon US?

Experts estimate that women’s jewellery is the most stable and fast growing category on an annual basis. The same has $3.7 billion sales projections in the year.

What is pushing the trend?

Amazon’s overall growth in the USA market is positive. The same is driven by rapid expansion of sales across numerous CPG categories. Unlike previous trends, luxury, apparel and electronics are not on the rising trend.

This shows that the US consumers are focusing on purchasing grocery, health and beauty offerings in Amazon. This is a significant finding considering the close competition from TikTok Shop that offers similar offerings.

Top considerations of your Amazon sales plan for 2024

It is important to ensure you resist the temptation to promote your entire catalogue on the platform. It is best to focus on top-selling products to ensure a strong impact. You must also ensure adequate products are available to cater to such an increased demand.

To ensure that your brand attains the desired standards, you may ensure the following –

  • Amazon’s strict review policies focus on favouring only credible sellers. You should encourage your customers to review on Amazon and safeguard your reputation.
  • You should optimise images to engage shoppers and address common challenges. You must also utilise all available image stocks effectively.
  • To drive more traffic to your listings, you must focus on strategic keyword placement and research. You must also work to integrate your products according to Alexa’s needs by optimising keywords and content for voice-related searches.
  • Build a buzz by promoting your deals and brands to interested shoppers. You can also engage with the audience to create awareness about your brand.
  • You must scale up efforts to reconnect with the audience even after the prime sales.

Conclusion

If you wish to transform your Amazon Prime Day sales plan, and business potential and redefine success, it is recommended to invest in ChannelSale solutions.

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2024 Holiday Shopping Season Prep Already You Bet!

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2024 Holiday Shopping Season

The retailers must prepare for the shoppers as soon as holiday shopping time arrives. This time of the year is very crucial for them. As per studies conducted in this field, 28 percent people start holiday shopping well before November. Thus, online retailers must be prepared for the sudden increase in shoppers. They may encounter many challenges, such as supply chain issues, uncertainties, shipping delays, etc. So, waiting till the nth hour to start preparations for holiday shopping may pose many problems.

Online retailers can devise a well-thought-out strategy that keeps them ahead of the game and handles any contingencies that they may face. Here are a few tips that can help them prepare for the 2024 holiday season shopping.

2024 Holiday Shopping Season Prep Already

Also referred to as “The October Kickoff,” this approach is gaining much traction among excited shoppers. Instead of waiting until the last minute, they start making plans for the holiday season as early as October. This way, they have ample time to look for gifts and make timely purchases. They are ready with their shopping lists and start the activity with proper planning. Once the shopping list is ticked off, the retailers can align with the shoppers, see what they are doing, and prepare for the upcoming holiday season. Thus, as the October deadline looms larger, here is what an online retailer can do-

  • Let us tackle any problems and check out the existing listings.
  • Improve the Amazon A+ content to convey your product and brand narrative.
  • Settle the products to include in the fourth quarter catalog.
  • Review all data across active marketplaces.

The retailer must optimize and collect the expected projects that will sell well in the upcoming holiday season. This way, meeting the October deadline becomes easier. It is also the best time to evaluate which products are not faring well or are underperforming from the previous year so that the retailer can create optimal inventory levels. The retailer can also make plans to enhance reach to diverse marketplaces. This way, in September, they can establish a strong presence.

Overcoming Challenges

Consumer spending habits have undergone a considerable change due to inflationary pressures. Despite high product costs, customers make purchases, but they have now become more discerning when making buying decisions. As a retailer or a seller, it is essential to stand apart from the competition by focusing on critical areas –

  1. Assisting customers with their needs
  2. Providing shipping options
  3. Describing products. Offering details
  4. Gathering feedback and reviews

Understanding the stocking schedules for Q4 inventory when utilizing marketplace fulfillment services is crucial in the supply chain to overcome obstacles.

Critical steps for success include

  1. Setting goals
  2. Planning and achieving sales targets during the holiday season can be quite a task as sales peak during this time, but transactions happen throughout the year.
  3. Expanding marketing campaigns globally
  4. Upholding customer service standards
  5. Evaluating holiday season performance to guide decisions for the year

Make the most of the expertise and two decades of experience of ChannelSale to boost product sales growth. We use advanced software solutions to sync inventory, listings, and orders across different channels.

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