BIRMINGHAM – Amazon is hosting its semi annual Prime Days again on Oct. 10-11. So we’ve brought in our digital marketing expert, Melih Oztalay from SmartFinds Marketing, to tell sellers, and buyers, how they can participate and get the best deals and results possible.

Heads Up, eTailers! Dive into Prime Day 2023 with Insider Secrets! On October 10th and 11th, unlock Amazon’s vault of opportunity with insights straight from Melih Oztalay, the CEO of SmartFinds Marketing, who presented on the October 9, 2023, episode of MITechTV. If your business thrives on Amazon, this exclusive video interview is a goldmine you can’t afford to miss!

Amazon Prime Day 2023 Introduction

Amazon Prime Day, born out of Amazon’s 20th-anniversary celebration in 2015, has since morphed into a colossal e-commerce extravaganza. This event has reshaped online shopping habits and brought billions in sales globally. As 2023 marked another record-breaking year for Prime Day, businesses, big and small, should understand its implications and learn how to capitalize on it.

The Surge of Prime Day 2023

Eight years since its inception, Prime Day’s allure remains unshaken. A blend of strategic marketing and enticing discounts led to an unparalleled increase in sales volumes across diverse categories. Some highlights:

  • Top Categories: Home, fashion, and beauty ruled the roost. Top-sellers included the Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner.
  • Yearly Growth: With sales for the two-day event in 2023 reaching a staggering $12.7 billion, Amazon witnessed a growth of 6.3% from 2022. The first day of 2023’s event alone became the most significant sales day in the company’s history.

Category Highlights: Before and After Prime Day

Comparing sales before and after Prime Day illustrates the event’s magnitude:

  • Air Purifiers: Saw a 2% increase in unit sales and a 6% growth in revenue.
  • Building Toys: Experienced a 35% growth in unit sales and a 21% increase in revenue.
  • Headphones & Accessories: Witnessed an 18% rise in unit sales and a whopping 34% growth in revenue.

The Fire TV Stick (3rd Gen) stood out, selling several million units, solidifying its position as a hot favorite.

Ad-spend: The Hidden Costs and Returns on Prime Day

Prime Day 2023 saw sellers spending around 14% of their income on Amazon ads during the 48-hour window. However, the silver lining for sellers was the 9% decrease in Amazon’s cost of sales compared to 2022. This attractive ROI, along with Amazon’s initiative to subsidize external advertising costs on platforms like Google and TikTok by 10%, made Prime Day even more enticing for sellers. The increased seller engagement was evident as 80% of Amazon sellers participated in Prime Day 2023, a jump from 69% in 2022.

The Impact on Other Online Retailers During Amazon Prime Day

While Amazon largely dominated the sales landscape during Prime Day, competitors like Target and Costco hosted their own sale events. Interestingly, while Amazon’s traffic only shifted marginally between 2022 and 2023, competitors experienced significant fluctuations. Target’s traffic boost decreased from 42.3% to 26.9%, and Costco’s dipped from 24.6% to 16.7%. This indicates that while Amazon’s allure remains consistent, other retailers might need to rethink their strategies during this period.

Luring Shoppers: The Amazon Strategy

Amazon’s tactic is simple yet effective: trigger the inner bargain hunter. In 2023, discounts varied across categories:

  • 14% off on electronics
  • 12% off both on apparel and toys
  • 9% off on Home/Furniture

These discounts, combined with Amazon’s marketing firepower, make Prime Day a golden opportunity for sellers. Yet, success requires a robust advertising strategy, without which brands might miss the sales surge.

Making Amazon Prime Day 2023 A Success

Amazon Prime Day 2023, with its stellar figures and unparalleled growth, underscores Amazon’s e-commerce supremacy. For businesses, understanding the nuances of this event and effectively harnessing its potential is crucial. With rigorous advertising, understanding of customer preferences, and strategic pricing, sellers can ensure they ride the Prime Day wave to significant profit.

 
 

Past Shows with Melih Oztalay

About SmartFinds Marketing

SmartFinds Marketing is a digital marketing agency. SmartFinds provides full marketing strategies and solutions to businesses. The marketing process is managed by a team of contemporary marketers who manage new ideas and incorporate early adoption of new strategic technologies to achieve successful results. Helping customers understand web marketing and the web advertising world through education and consultation is part of any SmartFinds program.

“Our trusted years of experience in advertising and marketing solutions date back to 1987 and the Internet since 1994. Since the very early days of the industry, we traversed the Internet to gain the knowledge, expertise, and more importantly, the imagination to apply the Internet’s resources to your business needs”, says Melih Oztalay.

Melih Oztalay is an industry leader as a guest author on many websites like Search Engine Journal. Additionally, he is a guest speaker at many conferences and events along with being a subject matter expert called on my radio shows and podcasts.

SmartFinds Marketing….Creative strategies. Innovative ideas. Use the full power of the Internet with us!