2 min read
TV ads. Emails. Social media. Articles in newspapers and online sites. Amazon is using every tool in the communications toolbox to get the word out; Prime Big Deal Days are loaded with deals and discounts.
Amazon’s latest iteration of Prime Day, taking place on October 10-11, 2023, is a golden opportunity for Amazon sellers to boost revenue. According to Digital Commerce 360, during the July 2023 Prime Days, Amazon's sales hit $12.90 billion globally. Shoppers gobbled up a record-setting 375 million products, up from 300 million in 2022, as seen in the chart below from Statista.com.
However, with the surge in customer traffic, the risk of unauthorized sellers can threaten your profits. Here are some vital tips to protect your brand and your revenue during the upcoming Prime Big Deal Day (and any other peak shopping event):
Anticipate Lost Sales
Understand that on peak shopping days, the competition intensifies, and lost sales may rise. Monitor your Buy Box closely, especially on key top sellers or deals. Remember, if you lose the Buy Box you can’t run marketing campaigns.
Stay Vigilant
Start monitoring your listings several days in advance. Identify and take action against any unauthorized offers or sellers promptly. Regularly scan your product listings to detect any suspicious activity.
Secure Your Brand Registry
Make sure your Brand Registry is set up correctly. This tool provides additional protection for your brand by allowing you to control your product listings and take down unauthorized sellers more efficiently.
Communicate with Authorized Resellers
Reach out to your distributors or authorized resellers ahead of peak shopping events. Wish them success and remind them of any policies or agreements in place. Clearly communicate your expectations to maintain brand integrity.
By implementing these proactive measures, you can safeguard your revenue and brand reputation during Amazon’s Prime Day promotions, ensuring a successful and profitable shopping event for your business.
In fact, these tips should be part of your standard operating procedure for any major shopping promotion, whether it’s an industry event like Prime Days or Black Friday, a holiday shopping period, or a launch and rollout for your latest product offering. Here’s to owning your Buy Box year-round!
