Prime Day Planning: Don’t Ignore Other Marketplaces
Preparing for the before, during, and after Prime Day halo effect on Amazon should be an important part of any brand's Prime Day strategy. But it’s not the only halo effect brands should consider when developing their strategy. It’s a case of a rising tide lifting all ships: traffic will likely be increasing on all retailers, and brands should be careful not to ignore other marketplaces on Prime Day.
According to Criteo, in 2021, all global retailers who participated in sales and promotions during Prime Day saw a 19% increase in traffic. Additionally, those participating retailers saw a 45% increase in sales and a 23% increase in conversion rate. Similarly, those who did not participate saw traffic down 9%, sales down 14%, and conversion rate down 6%.
Additionally, Google search trends indicate “prime day deals” hit their peak popularity each year during the Prime Day timeframe. While this is not surprising data, it points to a consumer's mindset during this important shopping event. Many shoppers start their shopping on Google, even if they end up converting on Amazon.
While Amazon is incredibly popular for many consumers, there is still a small group of consumers who don’t shop on Amazon at all, or who don’t have Prime memberships, so cannot access Prime Day deals. In 2020, Jungle Scout reported in their Consumer Trends Report, 10% of respondents said they do not shop on Amazon. That group of respondents typically use Walmart, eBay, Target, Best Buy and Home Depot for their alternative online shopping. Leveraging other brands for a day to day ecommerce strategy is the norm for many brands, so it makes sense to incorporate a Prime Day strategy where your brand already is selling.
What Does This Mean for my Brand’s Prime Day Strategy?
While Amazon should still remain the primary focus of a Prime Day strategy, brands should not ignore other big-box marketplaces such as Target, Walmart or other, smaller marketplaces running similar promotions. However, it’s important to understand the relative size of the Prime Day timeframe for other retailers, and create a media and promotional strategy that adequately supports each. Brands shouldn’t sell themselves short on other marketplaces, but also shouldn’t go all in on them during Prime Day.
A brands best selling product on Target is likely different than the best seller on Amazon, so treat each unique hero product as such. Every hero product on each retailer should have promotions and supporting advertising in place for Prime Day. This can help spread traffic and conversions across a few retailers.
If your very best deals are showcased on Amazon, plan to pull back advertising for those specific products on other platforms. Another strategic option is to amplify the products on other retailers that aren’t on promotion on Amazon. During big shopping events such as Prime Day, shoppers typically compare prices across retailers, so it’s important to scale advertising on all marketplaces.
Additionally, many of the same strategy guidelines for Amazon PDPs hold true to prepare other retailers listings for Prime Day. Ensure your listings are discoverable by updating keywords, content and imagery, review product attributes and backend listing information for accuracy and keep a close eye on whether your product is conversion-ready. The traffic will be there, but will your product listings be ready to convert?
While other marketplaces shouldn’t be the most important part of your Prime Day strategy, they are a channel not to ignore. If you could use a strategic partner to help you prepare for Prime Day, contact us today, and be sure to also check out some of our other content to help brands prepare for Prime Day:
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