Prime Day has become one of the biggest online shopping days of the year. Sellers looking to capitalize on the Amazon event need to weigh a number of factors when it comes to attaching products to any Prime Day deals, whether that’s a product’s lifecycle, inventory on hand or profitability after the discounts necessary to participate. The good news for sellers is that while investing in Prime Day deals certainly helps boost sales, a study across Teikametrics’ customer base showed that the corresponding increase in visitors to Amazon as a whole has a positive impact across a sizable share of products across the site.
The Teikametrics research team measured the total sales and pricing information across more than 1,100 products sold by Teikametrics clients leading up to and including Prime Day. This pricing information included any coupon discounts the seller offered for a given sale. Each product studied averaged at least one weekly sale over the past four Mondays and Tuesdays prior to Prime Day (July 15 through 16). All comparative metrics reflect the average across those prior four Mondays and Tuesdays versus the metrics observed over the Prime Day promotional period.
As a note, due to Amazon ads possessing purchase attribution windows extending beyond the date this data was captured, it is likely that some percentage of ad-derived sales over the Prime Day period are not included in this data set. Additionally, it is worth mentioning that this data set encompasses products across a number of product categories on Amazon. As such, the impact of Prime Day across an individual product category on Amazon may differ from this aggregate analysis.
As seen below, the average revenue generated on Prime Day significantly outpaced that of the prior four-week Monday and Tuesday average, with 94% of the products studied showing revenue increases. While a majority of products studied did not reduce their price during the Prime Day period, products that did decrease their price drove substantially greater revenue growth from the prior four-week average.
This data underscores why Prime Day is incredibly important for Amazon sellers. Even outside of the exposure of Prime Day deals on Amazon’s front page, consumers are coming to the site ready to shop, and every product stands to see a boost in sales.
In the coming weeks, we’ll be publishing a deeper analysis of Prime Day’s impact on Amazon advertising and ad-derived sales, including vertical-specific breakdowns and winning strategies you can keep in mind for next Prime Day.