Amazon Prime Day 2021 Wins & Key Takeaways
Coming as no surprise, Amazon Prime Day 2021 proved to be a massive eCommerce holiday last month. Overall, large eCommerce retailers saw a 29% increase in sales compared to their average daily sales in June.
BVA’s marketplace service clients saw some incredible wins and our teams gained valuable insights about Amazon strategy for Prime Day and beyond.
As the first Prime Day following the worst of the COVID-19 pandemic, merchants weren’t entirely sure what to expect from this year. For the first time ever, the marketplace holiday was held in June, differing from the previous year when it was hosted in October.
Heading into this year’s eCommerce holiday, our teams prepared for a big lift. Historically, Amazon Prime Day is the biggest day of the year for brands in the marketplace and it seems this year was no exception. Let’s dive into some of the results.
Amazon Prime Day 2021 ResultsExperts estimate that Prime Day 2021 sales total at $11.2 billion. This is a 7.7% increase compared to Prime Day 2020, however this growth rate is smaller than the one Prime Day 2020 had over Prime Day 2019 (which increased by a whopping 45.1%).
Experts theorize that the decrease in growth rate YoY may be due to the shorter time period between Prime days. Prime Day 2021 was only 8 months after Prime Day 2020, whereas Prime Day 2020 was delayed and kicked off winter holiday shopping.
Additionally, supply chain constraints this year meant that there was less inventory than many sellers wanted, in addition to high freight costs. This caused many sellers to be less promotional than they might have been had conditions been better.
How the BVA Team Approaches Amazon Prime Day & Marketplace ServicesAs a full-service eCommerce agency, BVA offers Amazon & Marketplace services to merchants looking to grow their business. Here is our team’s advice for how direct-to-consumer brands can approach Amazon Prime Day.
ADVERTISINGWhen it comes to spreading the word about your brand’s Prime Day deals, there’s a lot of competition. However, all eCommerce merchants should be taking advantage of the buzz around Amazon Prime Day by leveraging digital marketing and advertising.
To ensure your marketing efforts deliver an ROI, here is how our team approaches digital advertising for our Amazon clients before and during Prime Day:
- Increase Aggressiveness of Bids: Everyone is trying to take advantage of the increased traffic at this time and merchants need to make sure that their ads are still showing up.
- Increase Daily Budgets: Increasing CPC bids means ad budgets will get used up quicker than usual.
- Focus on Most Important Keywords: Direct the majority of your increased spend towards proven keywords and campaigns.
PRODUCTMaking sure your Amazon Brand Store is set up for success on the busiest day of the year is paramount. Here are the basic steps every merchant should take prior to Prime Day:
- Review Inventory Early & Often: This is a crazy environment for supply chains. We made sure that our clients had the inventory they needed in order to hit their goals.
- Ensure PDP’s and Brand Stores are Optimized: This is normal house cleaning stuff, but it is important that your listings are optimized for conversion during some of the highest traffic days of the year.
PROMOTIONSHow do the most successful eCommerce brands capitalize on Amazon Prime Day? Promotions.
We’ve already talked about advertising in the lead up to Prime Day, but let’s hone in on the deals and discounts that tend to drive the most traffic and conversions for merchants both in and out of the marketplace. Here are our top tips for leveraging promotions:
- Setup Promotions for Before, During, and After Prime Day: Promotions still help your products get noticed and drive conversions. Make sure that you have a promotional plan for the days leading up to and following Prime Day.
- Generate Traffic to Promos via Advertising and Brand Store: Find new ways to generate traffic to your promotions. We help clients create custom ad campaigns that feature discounted products. Another tactic can be to create a gallery showcasing the deals on your brand store.
BVA’s Client Results for Amazon Prime Day 2021As an eCommerce agency, Prime Day is one of our busiest (and most exciting!) days for our Amazon & Marketplace clients. In comparison to Prime Day 2020, this year BVA clients on average saw:
- 307% YoY increase in sales
- 252% YoY increase in page views
- 98% YoY increase in Buy Box Win Rate
Concluding ThoughtsPrime Day continues to be one of the biggest eCommerce shopping days of the year. Now that it’s over, it is time to take the learnings and apply them to your 2021 holiday strategy.
Looking for Amazon & Marketplace experts? Reach out to us here to get connected with our team of eCommerce strategists.