Prime Day for 2024 has been officially announced as a 48-hour event to be held July 16-17, 2023. Prime Day is usually two days where Amazon will do everything in their marketing power to get tons of traffic to come to Amazon in order to buy. This is good news for third party sellers (like you and me) because the increased Prime Day traffic will lead to increased sales for us!
Previous Prime Day Success
Back in 2015, Amazon decided to celebrate its 20th birthday with a huge day of sales called Prime Day. Amazon promised its Prime customers would see even more deals on Prime Day than on Black Friday. The sale ended up living up to the hype as Amazon reported selling 398 items per second (source) that day and almost 1 billion in sales.
Since then, Amazon has brought Prime Day back each year…and again, each year’s Prime Day was an even bigger success than the previous one. In 2018 for Prime Day Amazon sold 771 items per second and over 4 billion in sales. Prime Day in 2020 was amazing with over 10.4 billion (with a “b”) sold during the 2 day event. Not to be outdone, around 1000 items were sold per second for Prime Day 2022. In 2023, the first day of Prime Day was the largest sales day in Amazon’s history! Every year, Prime Day is expected to outdo the previous year’s results.
Prime Day 2024
Once again, for 2024, Amazon is promising that Prime Day will have even more sales than the year before. In fact, they are probably going to have sales not just on Prime Day, but throughout the entire week. With these pre-Prime Day deals and post-Prime Day deals, I think Amazon is basically “priming” their customers to buy even more on Prime Day (see what I did there?).
Prime Day is a day that Amazon has strategically created for multiple reasons. One reason is to get more people to sign up for a Prime membership. I love being a Prime member and all of the benefits it provides. If you’re not a Prime member yet, you really need to consider joining. As a Prime member, I’m able to do a better job selling items to Prime customers because I understand their mindset.
Another reason Amazon has created Prime Day is to bring in millions of new and return customers to Amazon. They know that if they provide the big deals, the customers will come. This huge increase in customers coming to shop on Amazon creates an incredible way for you to get a big bump in sales. The customers will come for the big Amazon deals and will stay to shop for other items they want to buy…. hopefully buying your inventory!
Maximize Your Prime Day Profits
Prime Day is going to be filled with some amazing deals. If you’re prepared, you can maximize your Prime Day profits. Here are some timely tips on how to make the most of Amazon Prime Day 2024:
1. You might be tempted to buy some of the Prime Day deals to flip right back on Amazon. Don’t forget that it’s against Amazon’s rules to buy items using Prime shipping that you intend to resell on Amazon. This is a rule that many new Amazon sellers don’t know, but could get you in a lot of trouble if broken.
2. Even though you can’t use Prime to buy inventory for Amazon, you can still use it to buy inventory to sell on other platforms like eBay, craigslist, or anywhere else you can make a profit.
3. Search the Prime deals for items you can use in your business, like shipping supplies, office supplies, a new processing laptop, or anything else you can deduct as a business expense.
4. Every year, other stores respond to Amazon’s plan for Prime Day with special sales of their own. Be sure you look at other online stores to see if they have special deals going on that day. I know Walmart has a big sale each year in response to Prime Day. I’m sure they (and other stores) will be doing so this year, too.
5. In preparation, right now is a good time to reprice some of your inventory. With more people shopping on Amazon on Prime Day (as well as the days leading up to it), there is a greater chance for you to get increased sales. Be sure you competitively reprice your items to maximize your profits. Here is a post on how to manually reprice your inventory and another post with some manual repricing strategies.
6. With so many sales expected on Prime Day, you want to be sure that your prices go UP while your lower priced competition sells out of their items. This can done automatically by setting up an repricer tool like BQool. With the right set of repricer rules, your price on Amazon can automatically go up. Click here to see how an automatic repricer works and to see how you can get a free copy of my Bqool repricer rules that literally doubled my sales.
7. Not only should you reprice your inventory to get more sales, you might want to reprice excess inventory. Also reprice the inventory you have that will be charged a Long Term Storage Fee (LTSF). Remember, every month on the 15th, Amazon will charge you a rolling LTSF each month for all items you store in a FBA warehouse over 12 months, and Prime Day is a good way to try and offload some of your items that might be charged a LTSF if still in your inventory come the 15th.
8. Have realistic expectations for Prime Day sales. The more you do to prepare, the better results you’ll have. An increase of sales is expected, but overall it will most likely be a nice bump in sales. While some people might have a day filled with tons of amazing sales, that probably won’t be the norm. Don’t get caught up with checking your sales every 10 minutes to see if you have any new sales. And don’t fall into the trap of comparing your sales with others who are posting online. Remember, comparison is the thief of joy. Just enjoy the nice bump in sales and then get back on track with your overall goals for your Amazon business.
Bonus Prime Day Tip
Set a reminder on your calendar for June/July of 2025 and be sure you are ready for Prime Day next year. 2025 is the tenth consecutive year Amazon has planned a Prime Day, so it’s a good bet it’ll be back come 2025. You want to be sure and be prepared each year to take advantage of this opportunity.
For more details from Amazon about Prime Day, click here, here and here.
If you have any more suggestions about how to make the most of Amazon Prime Day, then leave a comment below. I’d love to hear what you have to say.
* Post updated for 2024
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Grateful for you giving the heads up on Prime Day including the nudge to reprice.
Great article, Stephen! I love that you come at it from both the seller and buyer perspective. I’ll be looking for printer ink on Prime Day, tape and mailers 🙂
I would ALSO add:
1. optimize your listings with better keywords, bullets, headlines and descriptions, as well as photos.
2. Consider running sponsored ads
Newbie here.. I watched one of the Amazon webinars on how to prepare for Prime Day and they covered the basics for a good listing and included what you said. One light bulb moment for my sleep deprived over caffeinated mind was about ratings. They specifically mentioned to focus on 3.5 star reviews with a minimum of 5 ratings. It said to focus ad dollars on winners and avoid the losers. It got me ‘thinking’ lol. Back to the 3.5 star 5 review thing. I recently bought various products from a distributor that I had done some keepa research on and I felt ok enough to buy a few items. Some items flew within a day, but I realize that the ones that are still lingering in inventory had like a 4 star rating with 4 reviews and the like. They had pretty good sales ranks but they are still taking time to sell. Im thinking about adding that rating rule to my buy criteria. For example I have 34 tubes of good old Colgate toothpaste I got to get ungated in topicals they only have 4 ratings but I see that the 2 pack has lIke 20,000 ratings so I think I will pull those and relist as sets of 2 because honestly they are taking their sweet time to sell and they honestly shouldn’t its a replenishable household brand name item. Anyways thought this may help someone.
@Barbara,
Not sure how that relates to Prime Day offers from Amazon. Please expand.
It doesn’t relate to Amazon’s Prime Day deals, but it does relate to the fact that there will be much more traffic coming to Amazon that day and that traffic might find your items and buy them… so to help customers find your items faster, you can improve your listings (so it shows up in search results better) or you can drive traffic to your listings with ads.
Hi Stephen,
I appreciate your insights & perspective. Prime Day (whether deemed successful or not) is always important to every Amazon seller, so your post is helpful to anyone who seeks to stay current and offers actionable suggestions. You covered that nicely.
Thank you for the info!
I also received an email about a specific category that i sell in… they plan on pushing products that are marked as a SALE and marked down at least 20%. So maybe just repricing is not enough.. but have a sale for a few days.
That’s awesome!
Did you ever try to get tons of organic sales through keywords ranking for this issue?
This is cool!
I’ve been thinking that i could improve my review levels by stepping on my follow up email sequence, what do you think of feedback genius?
I’ve read this article and it says that you can customize follow up emails for repeat customers?
I think this could be golden! As it would allow me to have a conversation with repeat customers on autopilot, surely this would improve review levels?!
What do you think?
I use Feedback Genius and LOVE IT. It helps get more seller feedback and product feedback – plus it helps eliminate the negative feedbacks that violate Amazon’s feedback policy (which happens all the time). You can get double the free trial of using Feedback Genius at this link: https://www.fulltimefba.com/genius
Thank you for the tips Stephen. I am definitely going to apply several of them for a successful Prime Day.
There’s a new promotion for Prime Day this year I’m taking advantage of called Prime Exclusive Discounts. I’m offering 20% off on all 25 flavors of a lesser known quality grocery brand. It’s my hope that this calls attention to this brand and Amazon kicks in a few more page views to the product. Anyway, I’m not going to be the only third party seller doing this! So this year there might be quite a few more products with discounts besides what Amazon themselves sell. Happy shopping!
Hi Stephen,
Thank you so much for your content.
It is a lonely road here in Canada.
When you subscribe to Keepa, do you have to subscribe to another online tool?
Thank you so much
While most people rave about Amazon’s free 2-day prime shipping, you can sometimes earn a discount or promotional reward by choosing the No-Rush Shipping option.