A record-breaking event—this is how Amazon described Prime Day 2024 in its official press release.
And we couldn’t agree more, especially with the event passing the expected $14 billion sales mark. But with a very big win like this, comes very big issues surrounding this “huge success”. We’re serving you both the good and the bad for today’s issue! ☕
- The biggest Prime Day yet 🎉
- A smart way to be a successful Amazon brand 👌
- Shoppers’ not-so-nice sentiment toward Prime Day 💭
How about you? Tell us how your Prime Day went by replying to this email or answer the poll below. ✉️
AMAZON NEWS
Can you guess how much Amazon made on Day 1 of Prime Day?
According to TechCrunch, it’s not that much—only more than $7 billion!
We already gave you an early look at the numbers yesterday, but here’s a complete peek at the notable trends for Day 1.
✨ Prime’s numbers
- Consumer spending saw an 11.7% year-on-year growth.
- Total sales reached $7.2 billion, beating Prime Day 2023’s $6.4 billion.
- It’s the biggest mobile shopping day of the year, with $3.5 billion contributed by mobile orders. 📱
- Buy Now Pay Later (BNPL) saw a 17.1% growth year-on-year, driving $540 million in sales.
- The average order size was $60.03.
ICYDK, the expected sales were at $14 billion, which may be due to inflation (in short, higher prices). But according to Adobe, Prime Day 2024’s numbers were due to net-new demand!
As a matter of fact, ecommerce prices have decreased in the past few months. It was down to 3.7% in 2023 and 4.2% year-on-year as of June 2024.
Important update: As of this writing, Prime Day has surpassed expected sales, clocking in at $14.2 billion!
How about you? Tell us how your Prime Day went by replying to this email. ✉️
TOGETHER WITH SMARTSCOUT
Here’s a smart way to ensure your Amazon success
Selling on Amazon is overwhelming enough. But what they don’t tell you is how equally overwhelming tools for sellers are!
Of all the recommended tools out there, which should you invest in?
As a new Amazon seller, we recommend SmartScout. It’s the perfect tool to have, especially if you haven’t done your product research yet. This is the first step to selling on the platform, so if you have a trusty tool for that, then everything else will follow.
What can you do with SmartScout?
- Explore all Amazon’s categories instantly
Imagine being able to explore all 25,000 subcategories on Amazon without hassle. Well, SmartScout makes this possible with its easy-to-use file directory system. It allows you to quickly analyze products and brands in related subcategories, enabling you to find the most profitable categories to sell in.
- Get realistic estimates with the Amazon FBA calculator
Amazon handling order fulfillment for you is a big burden off your shoulders. But have you ever felt like FBA fees are holding you back? This tool gives you a crystal-clear view of those fees. Make sure that you’re not overpaying for FBA services and maximize your earnings with the FBA calculator!
- Know the “frequently” profitable items
SmartScout’s Traffic Graph feature reverse-engineers Amazon’s recommendation engine to help you understand competitor traffic. Moreover, you can use it to identify "frequently bought together" products and locate the best ad spots.
- Scrutinize a product’s true potential with a UPC Scanner
This tool eliminates the tedious task of analyzing products one by one. You can import entire product lists with an Excel file and instantly identify the most profitable items.
- Bonus: User-friendly Interface
SmartScout stands out with its simple yet sophisticated design, enhancing the user experience. This design choice ensures seamless navigation, allowing users to focus more on extracting insights from the data rather than wrestling with the interface.
We’re making it even better for you!
SmartScout has partnered with SellerBites to give you a 25% DISCOUNT for the FIRST 3 MONTHS. See how you can use their services to your advantage.
Click on the link below to claim your 25% discount!
Make my product research easier
BITES OF THE WEEK
- Seller Check-in: Some sellers are reporting low sales and account deactivations on Prime Day.
- Prime Lesson: Sellers get ready—85% of back-to-school shoppers will start with Prime Day.
- Bestsellers Revealed: Here are the top 10 Prime Deals that won people over.
HOT TOPIC
Why are shoppers asking if Prime Day is a scam?
In the eyes of ecommerce experts (and, of course, Amazon), Prime Day 2024 is a huge success. But can you really call a sales event a success if shoppers aren’t happy with it?
A report by MarketWatch revealed that some customers question the “credibility” of Prime Day deals. They’re claiming prices went up right before Prime Day to make the discounts seem bigger.
🤷♂️ Good deal or just trickery?
Shoppers shared stories of items being marked up and then “discounted.” Many people even searched "Is Prime Day a scam?" on Google, making it a top trending question.
- One customer saw a projector for $89.99 with a 40% coupon, lowering the final price to $54. Imagine their disappointment when on Prime Day, the list price jumped to $116 and the sale price was $69.
- Another shared that a leaf blower was originally £80.75 ($104). Then, it was listed on Tuesday at £100 (almost $130)with a 25% discount.
- One shopper saw a bathroom accessories set that was $69.99 with a $10 coupon. On Prime Day, the "typical price" went up to $79.99, and the sale price was $63.99.
Amazon disputed the claims, saying shoppers missed promo codes or compared prices wrong. An Amazon spokesperson said they work hard to provide clear pricing and base discounts on prices customers have paid recently or competitors have offered.
What do others say?
- Shopping experts say product deals can fluctuate during Prime Day.
- Third-party sellers might also be hiking their prices before Prime Day to offer “larger” discounts later, says Will Tjernlund of Goat Consulting.
- Bloomberg reported similar tactics as shown in past studies.
Despite the controversy, Prime Day continues to lure shoppers eager to snag savings. So yep, you can still leverage this sales event to boost your sales and reach more customers. 💰
