Amazon's Prime Early Access event hosted "tens of millions" of Prime members, as reported by CNBC in this article. Amazon stated that more than 100 million items of customer purchases were from third-party sellers; however, the event did not end up living up to the success of July's Prime Day.
Third-party analysts compared statistics between the October event to July's. According to the Bank of America, the October Early Access Sales were "lighter than Prime Day," with an estimated revenue of $5.7 billion and $7.5 billion in July.
Klover also noted slower spending and volume. The transaction frequency was down by 30% between July and October. The average spend per order for the Prime Early Access Sale and Prime Day were $46.68 and $60.29, respectively一which is a 25.45% drop in average spending.
Flop or not?
When comparing the data between the two, the Early Access event was not as lucrative as July's Prime Day sales, however, that doesn't necessarily mean it was a flop. On the contrary, this month's event earned more than a typical Tuesday and Wednesday.
Marketplace Pulse's founder Kaziukenas commented on the article, saying that the event was likely held in the first place to support Amazon's initiative to reduce the number of products in their warehouses, so in that sense, it really wasn't a flop at all.
Key Bites:
To help sellers learn more about their customers, Amazon offers various tools accessible through Seller Central, as explored in a blog post. One of these tools is the Product Opportunity Explorer, introduced in beta last fall, becoming available to all sellers this past June.
It can help sellers determine unfulfilled customer demand in the marketplace by providing information on customer shopping trends and behavior. This tool allows sellers to launch new, high-potential products to bridge the gap.
Another tool is the Customer Reviews Insight, which enhances the Product Opportunity Explorer tool. It enables sellers to evaluate a new product's chance of gaining traction and predict its sales potential through accurate data.
According to Helium 10, sellers who use the Product Opportunity Explorer "aren't necessarily looking for products or specific keywords, but rather clusters of products that are powered by clusters of keywords."
Find Amazon's video here on how the Product Opportunity Explorer works and how to use it.
What are the best tools to help support your business on Amazon? In this post, Reddit user u/cpmustangs12 shares a master list of software services used to run their wholesale Amazon FBA business:
From inventory management to keyword research and more, a ton of third-party software exists to help sellers run their businesses on this e-commerce platform. So keep an eye out for tools and services relevant to your business needs to succeed on Amazon!
There are definitely advantages when it comes to selling on Amazon, but unfortunately, a lot of downsides exist as well. Sellers are constantly faced with the annoyingly frustrating issue that threatens their listings, credibility, and sales: Hijackers.
Here are some of Helium 10's tips on preventing your listings from becoming hijacked:
There are numerous ways to protect your listings from becoming hijacked; ensuring that you employ a good strategy will help strengthen your brand and prevent you from dealing with situations like these.