Amazon’s Late 2020 Prime Day Will Be A Dress Rehearsal For Black Friday - Episode 151

KIRI’S TAKE ON PRIME DAY 2020

 

DESCRIPTION

This year’s Prime Day will be different than any of the previous five. Without the possibility to restock for Q4, and with many difficulties the coronavirus pandemic has caused, many brands are deciding not to invest in Prime Day this year. Today we are talking about what we know and what we don’t know, strategies we are recommending to our clients, and should you be investing in Prime Day this year.

Tune in to find out more!

KEY TAKEAWAYS

  • Date not yet revealed - competitive advantage

  • Problematic against the backdrop of the global pandemic that has caused:

    • Massive supply chain disruption

    • Unemployment

    • Economic uncertainty

    • Huge changes in how we shop for items

  • It will probably happen in Q4

  • Brands are taking different approaches:

    • Won’t participate because it’s too close to Q4

    • Will capitalize on Prime Day because Q4 is slower for these brands

    • Todd Hassenfelt - why invest in PD this year:

      • The products are deemed non-essential earlier this year - PD is a great way to clear out the inventory

      • Brick & Mortar business is slowing down

      • The products are giftable

      • The brand is new to Amazon or looking to disrupt legacy brands

  • Known Unknowns

    • The date - probably in October, but nothing has been confirmed yet.

    • The inventory 

      • Restrictions - Amazon introduced an Inventory Performance Index (IPI), based largely on inventory turns

      • Receiving times prolonged up to 20 or 30 days

      • Tips:

        • Prepare to fulfill your own Amazon orders or engage a 3PL (third-party logistics provider)

        • Jordan Ripley: Plan to max-out all SKU level inventory maximums, have another re-stock queued up and ready to be sent out in the last week of October

  • How to make the most of this year’s Prime Day

    • Using coupons and deals Amazon offers you

    • Sponsored Display - re-targeting capability

    • Creating bundles for giftable items

    • Updating storefront to highlight the Prime Day deals and bundles

    • Live video & Amazon Posts

    • Use PD as a test drive for “Turkey Five”

MENTIONED IN THIS EPISODE

Season 3Kiri MastersComment