Amazon Prime Day is like the Black Friday for Amazon Sellers. It is a day of great opportunity. It is usually a day where many are left wondering what day it will be, until only a couple of weeks before. Well, my friends, Amazon has finally announced what day Amazon Prime Day 2016 will be.
Amazon Prime Day 2016
You’ll recall I had shared some tips for preparing for Amazon Prime Day 2016. I want to highlight a statement from that post, too, that:
398 items [were] ordered per second
When I first wrote that, I was pretty surprised. I was skeptical. I’ve done a little more tracking on my own products, and looked at daily numbers, and I’m still astounded with that number.
All I have to say, is that, if you are a reseller: Be prepared.
The cutoff for having your inventory to Amazon to guarantee being in stock was 22 June. I think you might still get your inventory in, in time for Amazon Prime Day 2016 on 12 July.
Next, prepare a plan, are there products you have been holding on to for some time? If so, figure out what profit margin you are willing to accept, have it readily available on the 12th. You may not necessarily want to drop your price down to that lowest price just yet, but be prepared, and hopefully you can leverage Amazon Prime Day 2016 as a way to clear out some long held inventory.
While I’ve written this post primarily for resellers, with some brief tips for maximizing the day, the fact is, Amazon Prime Day 2016 is a great day for all parties. Consumers will likely get very good deals. Amazon has spent months lining up legions of lightning deals. For consumers: If you have an Ink Plus, I’d recommend that you go out, and buy some extra Amazon Gift Cards before hand. You can get an additional 5x points by doing so. For Sellers, know what prices you want to sell at, know what margins you are willing to accept. Above all else: Have a plan.