Amazon Prime Big Deal Days is set for October 2024. The major sales event – and the peak holiday shopping season – are quickly approaching. For sellers, third-party (3P) selling is an opportunity to increase revenue, brand visibility, optimize retail media advertising, and expand your customer reach as shoppers embark on holiday shopping. Here are four ways sellers can manage their multichannel selling strategy by automating the process to reach maximum potential.
Understanding Amazon Prime Big Deal Days 2024
Prime Big Deal Days is Amazon’s exclusive event offering Prime members early access to deals across a variety of popular categories. This is an opportunity for sellers to appear before retail membership-paying consumers. According to eMarketer, 65% of US adults pay for Amazon Prime membership. Retailers with paid membership options such as Costco Wholesale, Walmart+, and others are also growing their membership numbers, according to eMarketer data.
This year, the event will take place in 19 countries, including the US, Canada, Germany, and the UK. Participating sellers are already preparing to ensure that inventory, listings and marketing strategies are ready for the influx of traffic.
With heightened demand, it’s helpful to automate key processes such as inventory management, promotion management, and marketing automation. Rithum’s integrated commerce solution allows sellers to synchronize and optimize operations to meet Amazon’s requirements for Big Deal Days. This helps sellers avoid costly stockouts, incorrect listings, and poor retail media ad performance.
How to avoid errors on marketplace listings
Big Deal Days is the unofficial kickoff to the peak holiday shopping season. High-traffic periods can be overwhelming when managing multiple selling channels. Rithum’s integrated commerce solution offers a suite of features that resolve specific common pain points for sellers.
Rithum’s centralized dashboard provides brands and retailers with a view of operations. This allows sellers to track and synchronize fulfillment, inventory, and orders across multiple channels.
- Repricer automation: Automatically adjusts prices based on inventory levels, competitor pricing, and market conditions. Watch this video detailing Rithum pricing functionality for retailers and brands selling on Amazon, eBay, and other channels here.
- Performance monitoring: Track real-time sales performance and identify issues during the sales event. This allows sellers rapid adjustments.
- Stock alerts: Receive low-stock alerts to enhance inventory management. Sellers can replenish inventory before stockouts occur, which would otherwise result in lost sales.
- Order routing and management: Seamlessly track and manage orders from Amazon and other platforms, reducing errors and improving efficiency.
- Shipping integration: Automatically update and track shipping information, providing transparency for both Amazon and your customers.
- Returns management: Streamline the returns process. Offer a hassle-free experience for customers while reducing your team’s workload.
Use Amazon Today to utilize in-store inventory for store pickup or same-day delivery
Amazon Today provides US retailers and brands the ability to offer their brick-and-mortar in-store inventory to Amazon Prime members. This is beneficial for sellers because consumers might otherwise miss out on products they are interested in but Amazon does not carry – or Amazon is unable to offer quick turnaround same-day delivery.
By providing Prime Badge listings, Amazon Today allows for same-day local delivery and access to buy online pick up in store (BOPIS), Amazon supports a seller’s omni-channel strategy while improving customer conversion and driving in-store foot traffic to local retail locations.
This service is available to customers in geo-targeted metros located in the US. Amazon plans to expand into Canada and other regions in the future. Rithum allows sellers to use its single platform to manage inventory, orders and fulfillment. By integrating with Rithum, retailers and brands can scale and adapt to meet evolving customer expectations.
How to leverage retail media ads during peak shopping events
Retail media advertising is increasingly important to brands and retailers with 81% of advertisers noting it is very important, according to a December 2023 Skai Path to Purchase Institute survey. Rithum’s platform helps sellers optimize their retail media advertising Amazon ad campaigns by dynamically adjusting bidding, targeting, and budgeting in real time. Sellers can fine-tune their retail media advertising performance during the sales event. This helps focus ad spend on the most profitable products.
Rithum Managed Services for Amazon advertising uses a data-driven approach to provide:
- Full-funnel monitoring: Track ad performance and customer behavior to dynamically adjust your campaigns to achieve the best results.
- Automated spend adjustments: Rithum automatically shifts advertising spend from products receiving high organic traffic to others that require promotion, maximizing ROI.
- Profitability insights: Real-time tracking of fees, shipping costs, and storage fees allows sellers to maintain profitable margins during the sales event.
How to apply lessons from Big Deal Days to prepare for the holiday season
After Big Deal Days, Rithum’s team advises sellers on how to gradually reduce retail media ad spend to continue momentum without overspending. This is achieved through incremental ad spending.
Rithum’s retail media team generates custom reports that provide data-driven insights. They use campaign monitoring data which contains thousands of campaigns, ensuring optimal performance and prevents incorrect bids or ad pauses. Holiday readiness reports help brands identify what worked and what needs improvement before the holiday rush. Rithum’s actionable insights show sellers what to consider when refining strategy for peak holiday shopping.
Learn how Rithum’s integrated commerce solution can help by scheduling a demo today.
