Amazon Prime Day is a great opportunity to boost sales, if you prepare accordingly.
While many small businesses see a spike in demand during the 48-hour promotional period, Amazon Prime Day can also cause major headaches for entrepreneurs. This year's Prime Day begins at 2:59 a.m. ET on Monday, July 15.
Here are three tips for how to best prepare for the surge in retail holiday activity.
1. Stock up on inventory.
Running out of product during Amazon Prime Day can lead to thousands of dollars in missed sales, says Brandon Fuhrmann, founder of New York City-based retailer Kitchenware Brand. Although Fuhrmann made $150,000 in Prime Day sales in 2018, the previous year all of his inventory sold out before his Prime Day promotional sale had even begun. In addition to the lost sales, retailers who run out of product can see their Amazon rankings fall on the company's site, which makes products harder to find for customers in search results. Now, Fuhrmann stocks up on product even before receiving approval from Amazon for his Prime Day lightning deals.
2. Offer your staff Prime Day perks.
Zachary Lewis, co-founder of Santee, California-based glassware company Integrity Bottles, recommends offering your staff perks to make the excess work more manageable. During the Prime Day promotional period--and other times when the workload is particularly busy--Lewis lets his staff work from home, which can help balance out the stress of the increased work.
"It's a win-win for everybody," Lewis says, adding that he also hires extra staff to be on hand during Prime Day and other holidays. On Prime Day in 2018, Integrity Bottles took in $12,200 in revenue, according to Lewis.
3. Clean up product pages in advance.
Joel Sider, Amazon's senior PR manager for small and medium-size businesses, advises Amazon sellers to make sure their product titles and descriptions are detailed and up to date to help customers make Prime Day purchase decisions as easily as possible. He also suggests making sure all products have multiple high-resolution images. Amazon's enhanced brand content--extra product text and images--gives sellers more description options and can boost your ranking. Enhanced brand content is available to Amazon sellers who participate in a program called "Brand Registry," which lets brands share product information and photos with the company so it can scan its platform for counterfeiters. "Get the most out of your product pages," Sider says.