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Amazon has officially announced that Prime Big Deal Days (PBBD), also known as Prime Fall Day, will return on October 8-9, 2024. This fall shopping event presents a significant opportunity for sellers to boost their sales and reach new customers.
The retailer stated that the event will kick off the holiday shopping season with a bang. This promotion, exclusively available to Amazon Prime members, offers “early holiday deals” and significant discounts across popular categories, featuring top brands and a wide array of products.
In this post, we'll cover the key details of the announcement, discuss the Amazon Prime Exclusive Deals fees, and provide some essential planning tips to help you prepare for this major sales event.
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Last year's event saw impressive results:
Prime Big Deal Days, which debuted as a fall counterpart to the annual Prime Day event in October 2022, has proven to be a major sales driver. The October 2023 edition set a new benchmark, outpacing all Amazon promotions except Prime Day 2023.
With an average order size of $53.47 and over $1 billion saved by Prime members across millions of deals, the event underscores the substantial impact of Amazon's seasonal promotions.
These numbers highlight the immense potential of Prime Big Deal Days for Amazon sellers of all sizes.
Amazon Prime Exclusive Discount Fee
One crucial aspect that sellers need to consider when planning for Prime Big Deal Days is the Amazon Prime Exclusive Discount (PED) fee. Here's what you need to know:
- Fee Structure: Amazon now charges a $50 fee per Prime Exclusive Discount (PED) promotion, regardless of how many ASINs are included. You can apply the discount to multiple products within the same promotion, and the $50 fee will cover the entire batch of ASINs.
- Sales-Linked Fee: The $50 fee will only be applied if the PED promotion results in at least one sale during the event. If the promotion does not generate any sales, the fee will not be charged.
- Promotions on Non-Event Days Remain Cost-Free: Promotions for Prime Exclusive Discounts scheduled on non-event days will still be offered at no cost.
- Deduction Method: This fee is deducted from your sales proceeds, similar to other Amazon fees.
- Consideration in Pricing: When setting your deal prices, it's crucial to factor in these fees to ensure you maintain profitability while offering attractive discounts.
For sellers, this change has several implications:
- Increased Costs: Sellers need to account for this PED fee in their marketing budgets, which could impact their overall profitability from these promotions.
- Strategic Planning: The fee might lead sellers to be more selective about which promotions they participate in, focusing on those that align closely with their sales goals and expected returns.
- Enhanced Visibility: Despite the added cost, participating in Prime Exclusive promotions can increase visibility and drive higher sales volumes during peak events like Prime Big Deal Days.
Sellers should evaluate their promotional strategies and financial plans to ensure that the benefits of increased exposure and sales outweigh the additional cost of the promotion fee.
Planning Ahead for Big Deal Days
To make the most of Prime Big Deal Days, preparation is key. Here are some essential planning tips:
- Meet the PBBD Inventory Cut-Off Dates: If selling in the US, be sure to send your PBBD inventory before September 13, 2024. For UK/EU sellers, get your inventory checked-in before September 20th.
- Optimize Your Listings: Ensure your product listings are up-to-date, attractive, and comply with Amazon’s guidelines. With Amazon's new AI-Powered Listing Creation tools, sellers can automatically populate product details, source information from brand websites, and convert spreadsheets into high-quality listings. Images, compelling descriptions, and competitive pricing will help your products stand out in the crowded marketplace.
- Utilize A+ Content and Video Ads: Utilize the new tools for creating A+ Content to craft immersive brand experiences and take advantage of the AI-Powered Video Generator. This tool allows you to create engaging video content from a single product image, making your ads more dynamic and appealing during the event.
- Deal Submission: Be prepared to submit your PEDs as soon as the submission window opens (typically in August). Choose your best-performing products or those with the highest profit margins for your deals.
- Pricing Strategy: Analyze your costs, including the PED fees, to determine competitive yet profitable price points. Consider using repricing tools to stay competitive during the event.
- Stock Up: Anticipate increased demand and prepare your inventory accordingly. Monitor your stock levels and consider using tools like SoStocked to help manage and forecast your inventory needs effectively.
- Leverage Advertising: Boost your product visibility by investing in Amazon ads. Enhanced Sponsored Products or Sponsored Brands campaigns can help drive traffic to your listings during the event. Lastly, plan social media campaigns and email marketing to drive external traffic to your deals.
- Prepare for Fulfillment: Ensure your fulfillment processes are ready to handle the influx of orders. Check that your inventory is properly positioned in Amazon’s fulfillment centers and consider using 3PLs to manage overflow or buffer stock.
- Customer Service: Prepare for an increase in customer inquiries during and after the event. Use Amazon’s new Customer Journey Analytics tools available to identify high-value prospects and better respond to customer needs. Have a plan in place to handle potential issues promptly and maintain positive customer experiences.
- Monitor Performance: Utilize Carbon6 analytics tools like ManageByStats and D8aDriven to track your sales performance and customer engagement. Once available to all sellers, Project Amelia, Amazon’s AI-based selling expert, can also provide immediate assistance and insights, helping you diagnose sales fluctuations and improve your business performance. Post-event analysis will provide insights into what worked well and areas for improvement.
By starting your preparations early and focusing on these key areas, you'll be well-positioned to take advantage of the increased traffic and sales potential during Prime Big Deal Days 2024.
Note that while Prime Big Deal Days offers a significant opportunity, it's also a highly competitive event. Your success will depend on careful planning, strategic pricing, and effective marketing. Start your preparations now to ensure you're ready to make the most of this exciting sales event in October!
