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Prime early access sale: Sales boost 289% (event) & 32% (baseline)

+289%

lift in Event Sales
vs. Average

 

23%

decrease in
sales vs. Summer
Prime Day July ‘22

 

32%

lift in
Baseline Sales

 

OVERVIEW

This year, Amazon did something they had never done before: they ran a 2nd Prime Day event in the Fall, “Prime Early Access Sale (PEAS)”, only 3 months after the traditional event.

Although no one had precedent to look to (aside, perhaps, from 2020’s sole Prime Day event that was also in October due to COVID), we knew we needed to be prepared for it to be just as big and so we planned just as strongly as if it were any other Prime Day or Black Friday/Cyber Monday.

While we expected performance to be less impressive than a normal Prime Day event (which ended up being the case), we were happy to see that performance was still very strong and only trailing 23% behind the traditional Prime Day.

In this case study, we share the strategies we have developed over 7 years of running Prime Day events, as well as the various metrics we saw across our 70+ Amazon brands and 1000s of products

In addition, we have compiled some interesting Amazon-wide metrics:

  • 29% of PEAS shoppers used the sale to buy holiday gifts1
  • AOV dropped 23% from $60.29 to $46.682
  • 32% of shoppers compared prices at other retailers (several were running competing sales events)3
  • Inflation Impact: 29% say they waited for PEAS to purchase a specific item, while 26% passed on a good deal
    because it wasn’t a necessity4
  • 52% of consumers stated that the deals they saw on day one were actually stronger than what they saw during Amazon’s original Prime Day shopping event in July5
  • Consumers came to conquer deals on everyday essentials, with hair care (34%), vitamins or supplements (29%), and pet products (28%) making up the top 3 categories6

REVENUE

SHORT-TERM | IMMEDIATE IMPACT

  • Main Event vs. Average (September): +289% (compare this to Feedvisor’s stat that says sales were only 25% more than an average week7)
  • Main Event vs. Summer Prime Day ‘22: -23%

LONG-TERM | BASELINE IMPACT

  • Prior to Event (September) vs. After Event (10/23 – 11/12): +32%

TACTICS + RESULTS

EVENT STRUCTURE

MAIN-EVENT:

Deep discounts are expected, so to be competitive,
we must cater to consumer expectations as much as possible.

Duration: 2 days
Recommended Discount: 25-40% (the average across VENDO brands was 30%)

PRE-EVENT:

The idea behind this stage is it will drive more traffic and sales thus greasing up the algorithm right before the main event. In addition, because Amazon begins promoting the event in the weeks leading up, traffic, intention to buy, and competitiveness will increase.

Recommended Duration: 7 days Recommended Discount: 10-20%

POST-EVENT:

The idea behind this stage is it will drive more traffic and sales thus maximizing the likeliness that the wins we saw during the pre, and main event have been solidified in the algorithm. In other words, maximizing the likeliness that we will have a higher baseline for both sales and organic search ranking.

Recommended Duration: 3 days (this is a pivot from 7 days since during Summer Prime Day ‘22 we saw a weakened impact of running a longer post-event, particularly regarding advertising metrics).
Recommended Discount: 10-20%

AMAZON ADVERTISING

  • Metrics vs. Average (week before)
    • % Of Total Sales: 35% (-11%)
    • TACOS: 8% (-53%)
    • ACOS: 27% (-34%)
    • CVR: 29% (+29%)
  • Budget Recommendations: To prepare for the massive influx of traffic so that ad budgets aren’t exhausted each day, we recommend a pre-approved rule-of-thumb increase in Amazon ad budget of 50% for the pre-event, 150% for the main event, and 75% for the post event.

PAGE 1 RANKING CAMPAIGNS

  • Context: Understanding there would be a large influx of traffic, we developed a suite of on and off-Amazon measures to boost organic search term ranking for high-value keywords in order to maximize visibility, traffic, and sales leading up to and during the big event.
  • Results:
    • Hair Care Product: +41% sales
        • Ranking Start: #85
        • Ranking Peak: #1
    • Wine Opener: +207% sales
        • Ranking Start: #127
        • Ranking Peak: #4
    • Women’s Supplement: +461% sales
        • Ranking Start: #12
        • Ranking Peak: #3

EXTERNAL TRAFFIC

We managed numerous external marketing campaigns to drive additional awareness, traffic, and sales. For any of these efforts, we used an Amazon Attribution link in order to track clicks, DPVs, ATCs, units sold and revenue. In addition, to earn the Brand Referral Bonus from Amazon, which is typically 10%, effectively making your referral fee 5%. Below are various examples of placements as well as some data points.

  • Paid Search (Google Ads)
        • 5.22x ROAS
        • 246 sales
        • +288% increase in conversion over prev. 4-week avg.
  • Email
        • Conversion Rate:
            – Average: 10%
            – Range: 2%-22%
        • Total % of Overall Event Sales:
            – Average: 14%
            – Range: 2%-47%
  • Paid Social
  • Organic Media
  • Influencer + Affiliate Marketing
  • SMS
  • PR (Onsite & Offsite Editorials)

CITATIONS

  1.  Numerator, Prime Early Access Sale 2022 Recap
  2.  Numerator, Prime Early Access Sale 2022 Recap
  3.  Numerator, Prime Early Access Sale 2022 Recap
  4. Numerator, Prime Early Access Sale 2022 Recap
  5.  NielsenIQ, Is Amazon’s October Prime Day 2022 a buzz or bust?
  6.  NielsenIQ, Is Amazon’s October Prime Day 2022 a buzz or bust?
  7.  Feedvisor, Prime Day Early Access Sale Recap: Sales, Ad Results, and Takeaways
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