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Amazon Prime Day 2024: Everything You Need to Know

Maximize your Prime Day 2024 success: Expert tips for shoppers and sellers on one of Amazon’s biggest sales events of the year

  • June 25, 2024
  • /
  • CANOPY Management
an amazon shopper facing an enormous amazon store with many choices of products

Amazon Prime Day 2024, celebrating its 10th anniversary, starts July 16 at 12:01 a.m. PDT and runs through July 17. This 48-hour global shopping event will feature millions of deals across over 35 product categories. 

Exclusive to Prime members, the event will include special features like invite-only deals and early access to discounts on Amazon-branded devices. Prime Day will span 24 countries, underlining its international significance.

Shoppers can expect significant discounts on popular brands such as Clinique, Allbirds, Sony, and KitchenAid. New deals will be introduced frequently, with some dropping as often as every five minutes during select periods.

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Exclusive Access

Prime Day deals are exclusively available to Amazon Prime members. The cost of a Prime membership is $14.99 per month or $139 per year. Amazon also offers discounted rates for students and eligible individuals, making these exclusive deals accessible to a broader audience.

Special Features

Invite-Only Deals: Returning this year, invite-only deals allow members to request invitations for exclusive discounts on high-demand items. This feature enhances the shopping experience by providing access to limited-time offers on coveted products.

Early Deals: Members can already access early deals, particularly on Amazon-branded devices like Kindles and Echo speakers. This head start allows Prime members to secure popular items before the main event begins.

a middle-aged woman looking at her phone and shopping online.

Planning to Shop? Here’s How to Get Ready 

To maximize your Prime Day shopping experience:

Amazon Will Have Competition

Other major retailers, such as Walmart, are also planning their own sales events to compete with Prime Day. For instance, Walmart’s sale will run from July 8-11, aiming to attract shoppers before Prime Day begins. This competition benefits consumers by providing additional opportunities to find great deals across multiple platforms.

Why Does Amazon Prime Day Matter?

Prime Day has evolved into a significant shopping event, rivaling Black Friday and Cyber Monday in terms of discounts and consumer interest. It serves as an unofficial start to back-to-school shopping and even early holiday shopping for some consumers. 

What makes Prime Day particularly special is its exclusive nature—only Amazon Prime members can access the vast array of deals. This exclusivity drives a sense of urgency and privilege, encouraging more people to sign up for Prime memberships. 

Additionally, the range of discounted items is incredibly broad, spanning from viral beauty products and household essentials to the latest unlocked smartphones and electronics. This means there’s something for everyone, making it a highly inclusive and appealing event for a diverse range of shoppers.

Do You Really Save on Prime Day?

The savings on Prime Day can be significant, especially for Prime member-exclusive items. Historically, the prices for Amazon’s own hardware, such as Kindles, Fire Tablets, Fire TV Sticks, and Echo devices, are some of the lowest seen throughout the year during Prime Day. 

However, the level of savings can vary across different product categories. While many items do see substantial discounts, some may not be as heavily discounted as they appear. 

As a shopper, it’s essential to do your homework, comparing prices and ensuring you’re getting a genuine deal. Using price tracking tools or checking historical prices can help determine whether a Prime Day deal is truly a bargain.

Who Benefits from Amazon Prime Day?

Prime Day is designed to benefit Amazon Prime members by providing them with exclusive access to numerous deals and discounts. However, the benefits extend beyond just the shoppers. 

Retailers and third-party sellers on Amazon’s platform also gain significantly from the event. Prime Day drives a massive influx of traffic to the site, increasing visibility and sales for sellers. It also serves as an opportunity for sellers to clear out inventory, launch new products, and gain new customers. 

Additionally, the event helps Amazon itself by boosting Prime memberships, which in turn creates a more loyal customer base likely to spend more on Amazon throughout the year.

A realistic image of three Amazon sellers looking at a checklist together

Last-Minute Strategies for Amazon Sellers to Maximize Prime Day Success

Selling on Amazon? It’s not too late to put yourself in the best position to have a great Prime Day. 

Here’s how:

Optimize Product Listings

Review and Improve: Ensure product titles, descriptions, and images are optimized with relevant keywords and are visually appealing to shoppers.

Increase Advertising Budget

Boost Ad Spend: Consider significantly increasing your ad spend, particularly for Sponsored Products. Some sellers increase their budgets by up to 300% for Prime Day to maximize visibility.

Set Up Last-Minute Deals and Discounts

Create Lightning Deals or Coupons: These can capture customer attention and drive more traffic to your listings.

Review Inventory Levels

Check Stock: Ensure you have sufficient stock of your best-selling products to avoid running out during the event.

Adjust Pricing Strategy

Competitive Pricing: Make sure your prices are competitive while still maintaining profitability. Consider strategies like product bundling or setting minimum order quantities.

Leverage Social Media

Promote Deals: Use your social media channels to generate buzz and drive traffic to your Prime Day deals.

Monitor and Adjust Campaigns

Real-Time Adjustments: Keep a close watch on your advertising campaigns during Prime Day and be ready to make necessary adjustments in real-time.

Improve Shipping Options

Attractive Shipping: Offer free shipping or upgraded shipping options to entice more Prime members to choose your products.

Be Flexible

Adapt Quickly: Stay prepared to pivot your strategy as needed, as Prime Day dynamics can be unpredictable.

Focus on Your Best Products

Promote Top Performers: Concentrate your efforts on products with good reviews, high ratings, and ample inventory to maximize impact.

How Canopy Management Can Help

As an Amazon agency, Canopy Management recognizes the immense potential that Prime Day 2024 presents for both sellers and shoppers. 

Events like Prime Day shine a spotlight on the importance of staying agile and informed in the Amazon marketplace. At Canopy Management, we’re committed to helping our clients navigate these high-stakes shopping events, turning the potential of Prime Day into explosive business growth and customer satisfaction.

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When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”

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