Reflecting on Amazon Prime

Reflecting on Amazon Prime Big Deal Days 2024: Lessons and Strategies for the Holiday Season

With Prime Big Deal Days now behind us, it’s time to assess the outcomes and prepare for what’s next. The event, held on the 8th and 9th of October, kicked off the holiday shopping season and offered brands valuable insights into customer trends and shopping behaviours. Understanding these learnings is essential for brands to maximise their Q4 performance as we move towards Black Friday and Christmas.

Key Takeaways from Prime Big Deal Days 2024

Prime Big Deal Days saw various product categories perform exceptionally well, including electronics, home goods, and seasonal items. Despite a slight increase in competition and costs, brands that employed data-driven strategies experienced significant gains. At RT7 Digital, during the event period on the 8th and the 9th of October, we observed a 0.7% increase in conversion rates and a 4.2% boost in ROAS across our clients’ campaign YoY.

Preparing for the Holiday Rush

With Black Friday and Cyber Monday just around the corner, now is the time to leverage these insights to fine-tune your approach. Consider the following steps:

1. Review Your Top Performers: Use data from Prime Big Deal Days to identify which products resonated most with customers. Did you see unexpected winners? Are there categories that didn’t perform as expected? Make adjustments accordingly to optimise your stock and promotional focus.

2. Refine Your Advertising Strategy: Ad costs tend to increase as we approach the holiday season, so now is the time to test different creatives and refine targeting strategies. Aim to engage customers early and build your audience pools ahead of peak shopping days. During the event and holiday periods, traffic on Amazon tends to increase, therefore there are more shoppers on Amazon and more competition, a budget pacing strategy would be optimal during this period by holding the majority of your budget for the specific event period like black Friday and cyber Monday, this will be beneficial as these days represent significant spikes shopping activity on amazon, many other sellers will also be increasing their advertising budget during these peak times and by allocating a larger portion of your budget will give you an edge by outbidding competitors and maximising visibility for your product listings on amazon and to remain competitive, these periods also tend to have high conversion rate as purchase intent is high as shoppers are in a buying mood and lastly allocating more budget to these high traffic periods will allow you to increase brand awareness significantly 

3. Develop a Cohesive Promotional Plan: Whether it’s Black Friday, Cyber Monday, or last-minute Christmas deals, ensure that your promotions align and build on each other. For example, consider using Black Friday to clear out older stock and reserving your most attractive offers for Cyber Monday to capture high-intent shoppers.

Maintaining Momentum Post-Event

Prime Big Deal Days may be over, but the season has just begun. Keeping customers engaged between events is the key to sustaining performance. Use the attention garnered during Prime to push additional offers through targeted email campaigns, social media, Amazon-specific tools like Deals of the Day or Lightning Deals, and Retargeting Sponsored Display campaigns on Amazon to keep customers engaged and drive conversions. 

By applying these strategies, you’ll be well-positioned to finish Q4 on a high note, making the most of every opportunity the festive season offers.