Prime Day came late this year and kickstarted what we expect to be an intriguing Q4, with a lot of this world still addressing COVID-19 and doubt around holiday transport . Amazon noted in its media release that Prime Day 2020″marked the two biggest days ever for small and medium businesses” on Amazon, with third party sellers exceeding over $3.5 billion in sales.
First, some important things to know Before digging to the information:
- This information is based on marketplaces GMV (gross product worth ) aggregated across our entire global client base and contrasts October 13 and 14, 2020 from the typical daily GMV of the prior 7-days (October 6-12, 2020). To put it differently, we are comparing Prime Day to present operation.
- Although Amazon Prime Day is an Amazon event, a variety of different retailers and marketplaces also promote sales and customers are primed to shop. Therefore, this info is inclusive of all marketplaces on the ChannelAdvisor platform and should not be construed as indicative of Amazon or other person market performance. This information is also not a proxy for complete e-commerce action or the operation of any individual firm, such as ChannelAdvisor.
- This analysis doesn’t include all groups supported by ChannelAdvisor.
- All calculations are done in USD. Global currencies are converted to USD using the conversion rate on the day of the order. These results are not normalized to account for varying exchange rates, even though the effect ought to be restricted over this brief time period.
According to our information, consumer electronics and related classes were the big winners. The top-performing course for ChannelAdvisor customers was Consumer Electronics, which is composed of audio, movie, automobile electronics, GPS, surveillance and associated products. Cell Phones, Computers/Networking, and Cameras/Photo were in our best five acting courses on Prime Day. Surely, consumers took advantage of bargains to stock up on all types of electronic gadgets.
Beyond electronics, the Home & Garden course grew considerably relative to the prior 7-day run speed. Standout subcategories included furniture, kitchen, bath, rugs, and household supplies/cleaning.
Essential Marketing Strategies for a Successful Holiday Season
Through the COVID-19 pandemic, retailers had to throw out their marketing plans for Q2 and constantly adjust their Q3 plans as US states closed, partially and unevenly reopened and, in certain areas, closed again. As a result of the ongoing disruption because of the pandemic, we’re expecting this holiday season will see more online sales than ever before. With that in mind, retailers must have their digital strategies so long before customers start considering gifting.
Right now, keeping shoppers engaged all season long is a top priority for retailers. Listrak’s team of account managers and client strategists counsel over a million merchants on browsing an ever-changing business landscape. We compiled their expert insights into a advertising manual to have a successful holiday season.
Curious? Here are four tips from the Listrak team:
- Begin preparing early . Listrak’s Enterprise Account Director Katherine Brown delivers timely advice:”Start at this moment. It’s imperative to get the work done beforehand.” Give yourself time to establish, get acquainted with and troubleshoot new technologies long before it’s time to handle the holiday rush. By implementing your new product recommendations characteristics before the busy period, you may ensure a seamless experience come November. Outside of technology, be sure to get organized around creative tools, subscriber list acquisition and content creation using a marketing calendar to keep on top of important deadlines and goals. Establish an end-date and create a workback timeline from there.
- Prevent simple mistakes. This year’s holiday season will be unpredictable, meaning your team should focus on what they can control. Make certain to’re diving into all of the small details to ensure a seamless shopper experience. Get in the weeds together with your email marketing campaign planning. Verify your product files are appropriate to reduce recommendation errors. Double check coupon codes and expiration dates. Even the tiny things, like mobile site optimization, are important in optimizing your electronic strategy.
- Make contingency plans. Retailers will have to prepare for possible challenges around the holidays. When it is shipping delays or out-of-stock updates, have a template ready to go in case of errors. Realistically, we don’t know exactly where our communities will be in three months. To ensure that your teams are willing in just about any circumstance, prepare for all possibilities. Replicate and improve upon the plans your team implemented throughout the initial pandemic outbreak. With the threat of store closures, prep extra advertising messages to market online shopping or contactless pickup. You might also experiment with location-based geo-targeting to keep your messages neighborhood and applicable.
- Continue to demonstrate compassion : The last few months have been tough on all of us. Most shoppers are still reeling from the economic and psychological cost of COVID-19. Maintaining compassion during these times will continue to build long-term customer loyalty. Not only can you show that you take care of your own communications, you’re able to produce concrete changes to your company to remove friction from the shopping experience. Consider more mobile-friendly payment options like Venmo or Apple Pay. Experiment with payment plan providers like AfterPay and Klarna to ease the financial burden of holiday shopping.
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