It’s that time again! 2023 will mark the eighth year of Amazon’s major annual sales event. Your Amazon Prime Day 2023 strategy will need to account for various current concerns including inflation, the recession, supply chain strain, and more.
We’ll keep this article updated consistently leading up to Prime Day as new information is released about the event. Bookmark this article so that you don’t miss out on any of the insights including predictions, strategies from our in-house Amazon experts, and more so that you can help your business build a strategy that hits all of your Prime Day goals!
What we know so far about Amazon Prime Day 2023
July 13, 2023
Take a deep breath. Amazon Prime Day 2023 is officially in the past.
Of course, there are still remarketing strategies and other initiatives to think about. But for now, take a second to relish the fact that the event itself is done.
Some of the Lightning Deals that customers got to take advantage of were:
- 20% off iPad Mini
- 45% off Vitamix blender
- 30% off Yeti tumbler
- $300 off Roborock robot vacuum cleaner
- 35% off Nespresso coffee and espresso machine
The results are still rolling in, but you can count on this blog to keep you updated with the numbers once they’re available.
Every year, ROI Revolution helps consumer brands exceed their Prime Day goals to achieve very exciting success during the event. Last year, some exceptional Prime Day wins from ROI Revolution clients included:
- A home improvement brand grew average order revenue by 128% with a 74% increase in glance views
- An electronics brand grew year-over-year ad revenue 57%, resulting in over $1 million in new revenue
- A food & beverage brand grew ad revenue by 246%
- An apparel brand saw a 62% increase in ad revenue
Here are some the key stats from last year’s Prime Day:
- 46% of Prime Day shoppers spent more during the 2022 event than in 2021
- Prime Day 2022 delivered over $12 million in sales, representing 8.1% YoY growth
- 3P sellers during last year’s Prime Day saw 11.7% sales growth YoY
- 40% of customers made purchases outside of Amazon during Prime Day
Prime Day may be over, but there is still plenty of success awaiting your brand on Amazon. To explore the untapped opportunities you can uncover on Amazon – and other marketplace channels including Walmart, Target, Best Buy, and more – send a message to our team today.
Prime Day dates announced!
Amazon has announced the dates of Prime Day! Prime Day 2023 will occur on July 11 and 12.
Make sure you’re prepared the event by perusing the resources below:
You can also scroll down to view updates from the past few months leading up to Prime Day.
What you need to do the week of Prime Day & the weeks after
We’re still a few weeks from Prime Day, but close your eyes and imagine that the big event is just a few days away. You’ve watched impressions and clicks increase over the last few weeks thanks to your lead-in strategies. What’s next?
The next step is to determine your budget plan for each Prime Day. Are you splitting your budget evenly over both days or devoting more to day 1? Front-loading your budgets is a risky Prime Day strategy – if you blow through those budgets early, you’ll miss out on peak sales hours throughout the rest of the event. Keep budget in reserve to add to campaigns that are driving sales but capping out. You can also shift budgets from campaigns that aren’t doing as well.
Bids are also tricky to plan for Prime Day. While you may have a good idea of what demand for your products will be, it’s hard to predict where to start with your bids. The best course of action is to start low and build up so that you have the flexibility to pivot if one product takes off while another lags behind.
Now, imagine that the two days of sales have ended. Your work isn’t finished yet. You’ll want to push retargeting Display campaigns for the three weeks leading out of Prime Day to draw in the stragglers who missed out on Prime Day for whatever reason, whether they were waiting to get paid or are still researching products. You can also target competitors during this time as well, using Sponsored Products and Sponsored Display to get your ads onto those competing product pages and driving them back to your own pages.
Now is also the time to do some analysis, either on your own or with your agency if you work with one. (ROI Revolution’s Amazon experts are highly skilled in helping with that.) What products did best? How did conversion rates, CPCs, or ROAS compare to previous years? What new search terms popped up?
There’s a lot to learn from Prime Day beyond just how much money you made or spent. These learnings can provide valuable insights into how to approach strategies for both future sales events and evergreen strategies.
Prime Day is a daunting event for digital marketers, especially during times of economic uncertainty. Taking the time to plan your strategies for more than just the days of Prime Day can prevent a lot of headaches and frustration. The more you prepare for and anticipate, the less you’ll be caught off guard on Prime Day.
We want you to be prepared to reach your full potential on Prime Day. Peruse our other resources to create an effective Prime Day 2023 strategy:
Amazon Prime Day Checklist: Prepare to Maximize Your Success
Once Amazon reveals the dates of Prime Day, things will start moving very quickly. You shouldn’t wait until the dates are announced to build your strategies. Some of the steps you can complete now are:
- Plan your budgets
- Identify what products you want to run promotions on
- Lay out your lead-in and lead-out strategies
- Update your Brand Store
- Build new creative if necessary
- Remove out-of-stock or low-priority products
- Add priority products
- Create a Best Sellers or New Arrivals page if you don’t have one
- Prepare bulk upload Excel files with bid and budget adjustments
Preparing for Prime Day easily becomes overwhelming with so much to do. For a more detailed timeline into how to prepare, read our Prime Day checklist and timeline blog.
Your Latest Resources: Prime Day Guide & Webinar Replay
We don’t know the dates of Prime Day yet, but if past Prime Days hold true, the event is less than two months away. Is your brand prepared? There’s no need to be stressed. Treat yourself to our latest Prime Day resources and feel confident for the major shopping holiday.
A Guide & Checklist to Maximize Your Prime Day Potential
Many marketers make the mistake of thinking that Prime Day is a two-day event.
The most successful marketers know that Prime Day is a six- to eight-week event, with a strategy that spans from brand awareness to remarketing. In this guide, you’ll unlock the secrets to laying a strong foundation and exceeding your sales goals this Prime Day, including:
- A clear checklist of what to accomplish before, during, & after the event for full-funnel success
- Lead-in strategies to prime customers to buy from your brand when the day comes
- Industry-specific tips to strategically plan your budget across the two days of Prime Day
For most marketers, the path to a successful Prime Day is full of uncertainty. Maximize your brand’s full potential this Prime Day. Download the guide.
Webinar Replay: Prepping for Prime Day 2023
Imagine: It’s Amazon Prime Day, one of the most high-revenue (and high-pressure) days of the year for your business. You’re resting easy as the sales roll in. You know that your year-over-year numbers are going to be something to celebrate.
Every digital marketer wants this scenario, but it’s not easy to achieve in a constantly shifting ecommerce landscape. Don’t let your Prime Day success hinge on factors that are outside of your control. In this insight-rich webinar replay, you’ll discover:
- Real stories & actionable takeaways from prior Prime Days
- Lead in & lead out strategies to achieve Prime Day profitability
- Answers to the audience’s Prime Day questions
Don’t risk underperforming on one of the year’s biggest shopping days. Take control of your brand’s Prime Day success. Watch the video.
It’s one thing to know how to achieve your goals this Prime Day – it’s another to have the time to do so. The Amazon experts at ROI Revolution can help with that. Primed with knowledge on Amazon, Target, Walmart, Home Depot, and the other major retail marketplaces, your business can thrive with a team of experts dedicated to ensuring your business has long-term, strategic success. To explore the opportunities we can help you uncover, send a message to our team today.
What you need to do in the weeks leading up to Prime Day 2023
Prime Day is one of the most competitive sales events of the year. With sales numbers that rival those of Black Friday and Cyber Monday, Amazon has changed how digital retailers approach mid-year marketing.
Digital marketers across the globe are asking themselves how to prepare to maximize Prime Day performance for their brand. We’re here to reveal the secrets that will help you get there.
The first step is to change how you view the event. Prime Day isn’t just a two-day sales event – it’s a 6–8-week event that requires a separate full-funnel strategy that kicks off roughly a month before Prime Day and wraps up about a month after, depending on your sales goals and inventory.
An effective lead-in strategy focused on brand awareness drives your company and products to the top of consumers’ minds. A well-designed lead-out strategy acts like a vacuum, sucking up all the customers who didn’t make the purchase during the event.
With more and more retailers participating in Prime Day, competition increases every year. The key is to identify a strategy to stand out before Prime Day even kicks off.
The answer is to create Sponsored Brands campaigns supported by Prospecting Display campaigns. 2-3 weeks before the event, start to promote Sponsored Brands campaigns featuring the products you want to push during Prime Day to build awareness and plant the seed in the minds of your target audience early. Prospecting Display campaigns (which could include Sponsored Display, DSP or a combination of both) allow you to hit customers both on and off Amazon to cast an even wider net to catch consumers’ attention.
If you have a set budget for Prime Day, you’ll likely want to devote approximately 60-70% of your budget leading into Prime Day to brand awareness and prospecting in order to fill as much of the upper funnel as possible.
Remember: Campaigns need to be approved before they go live. The closer to Prime Day you plan to launch, the slower it will take to be approved. Submit your campaigns for review at least a week in advance to avoid a disaster.
If you’re hungry to discover more Prime Day preparation tips, register for our Prepping for Prime Day 2023 webinar. On Tuesday, May 16th at 2 pm EST, one of our Amazon experts will share lessons learned from previous Prime Days, lead-in and lead-out strategies to convert shoppers, and more. You’ll also be able to get your questions answered in real-time during a live Q&A. Don’t risk underperforming on one of the year’s biggest shopping days. Register for the webinar now.
Deadline for Lightning Deals is 2 days away
We don’t know what day Prime Day is yet, but we do know that the deadline to submit Prime Exclusive Lightning and Best Deals for Prime Day 2023 is April 28th.
Lightning Deals are time-sensitive, low-stock discounts that are offered to Amazon shoppers either until the short promotion period is over or stock runs out. Brands that want to run deals on Prime Day must submit Lightning Deals in order to participate.
For last year’s Prime Day, Lightning Deals were due on April 29th and Prime Day took place on July 12-13.
Every business wants Prime Day success, but not every business knows how to get there. Join ROI Revolution our Prepping for Prime Day 2023 webinar on Tuesday, May 16 at 2 pm ET so that you’re prepared to maximize your brand’s potential during the big event. Register now.
Webinar: Prepping for Prime Day 2023 | 5/16, 2 pm EST
Imagine: It’s Amazon Prime Day, one of the most high-revenue (and high-pressure) days of the year for your business. You’re resting easy as the sales roll in, and you know that your year-over-year numbers are going to be something to celebrate.
Every digital marketer wants this scenario, but it’s not always easy to achieve when the ecommerce landscape is constantly shifting. Your Prime Day success shouldn’t hinge on outside factors that you can’t control. In this webinar on Wednesday, May 16th at 2 pm EST, you’ll discover insights to prepare you to maximize your brand’s potential during Prime Day, including:
- Real stories & actionable takeaways from previous Prime Days
- Lead in & lead out strategies to achieve Prime Day profitability
- Answers to your most pressing Prime Day questions during a live Q&A
Don’t risk underperforming on one of the year’s biggest shopping days. Register now for this insight-rich webinar to take control of your brand’s Prime Day success.
Preparing for Amazon Prime Day 2023
When is Prime Day 2023? If history holds true, Amazon Prime Day 2023 should take place this July. TechRadar predicts that Amazon Prime Day 2023 will take place on July 11 and 12. That means your business has just about four months to prepare for the event.
Prime Day has historically taken place in July – until, of course, the coronavirus pandemic hit in 2020 and the retailer moved the event to October. Then, in 2021, the event took place in June. In 2022, Prime Day happened in July, and then Amazon threw businesses for a curveball once again by hosting a second major sales event in October called the Prime Early Access Sale.
Of course, Amazon won’t release actual event dates or any other relevant information until a few weeks before the event. However, that doesn’t mean there’s nothing you can do now to start building your Prime Day strategy for 2023. Let’s take a look back at last year’s Prime Day for some insights that you can bring into this year.
What happened during Prime Day 2022? In 2022, the average order value (AOV) on Prime Day was $52.26, representing 17% growth over 2021. 20% of Prime Day shoppers said that they purchased more expensive items that they would only purchase on sale. This year, as higher inflation and an impending recession crowd the minds of consumers, it’s possible that AOVs will decline. Shoppers will likely be on the hunt for good deals, so make sure you’re catering to what they’re looking for as much as you can while still ensuring you get a good return.
Partnering with experts like the team at ROI Revolution can help you determine the best selling strategy for your brand. Send a message to our team today to explore the strategies we can develop for you to tap into unexplored growth opportunities for your business on Amazon.
You also won’t want to ignore the non-Amazon marketplaces like Target, Walmart, and Best Buy. All of these major retailers tend to host their own major sales events around the same time as Amazon’s Prime Day. In both 2021 and 2022, around 40% of consumers made purchases from outside of Amazon during Prime Day.
There are two categories that saw impressive growth last year: third-party sellers and CPG brands. Third-party product sales grew 11.7% last year, while Amazon product sales grew 6.1%. CPG brands saw purchases from 29% of all Prime Day customers.
To read up more on Amazon Prime Day 2022, check out our regularly updated Prime Day blog from last year – and stay tuned to this blog for more strategies and predictions you can leverage to achieve your Prime Day goals this year.