Amazon Plans to Hold 2nd Prime Day in October

Leaked files seen by the Business Insider (BI) show that Amazon may be planning a second Prime Day in the fall to boost growth.

Amazon Is Looking to Replicate Prime Day 2022 Success

Prime Day 2022 results are out, and Digital Commerce 360 estimates that the eComm giant made $12.09B globally during the 2-day extravaganza that ran from July 12 through 13.

That’s up 8.1% from last year’s $11.19B, and is considered as the “biggest” in history. Based on Numerator Prime Day 2022 Insights, most purchases were basic must-haves, such as household items, consumer electronics, and health and beauty.

Rising costs did impact customers’ buying decisions, though. The report shows that 58% of products sold for under $20, while only 5% sold for over $100, as many tried to beat inflation by prioritizing their needs over wants.

Moreover, 34% of Prime Day 2022 customers said they waited for the event to buy a specific product at a discounted price, while 28% ignored a good deal because it wasn’t a necessity. Inflation also forced 22% of customers to compare prices with stores outside of Amazon before placing an order.

This spending habit may continue through to Q3/Q4, as the Fed continues to raise interest rates and inflation is likely to remain above target until 2024. Therefore, people may be looking to use Amazon to stock up on essentials or buy holiday items at discounted prices before they get even more expensive by Q4.

Prime Early Access Sale

The next 2-day sale event that will be held in October is reportedly being named the Prime Early Access Sale. The exact date is yet to be determined.

“This event is one of the best deals events of the year and Prime members would be crazy to miss it,” one document said.

The BI report also says that the eComm giant has already started asking sellers to send their special promotion deals for the event, which is expected to feature promotions for sneakers, TVs, and other basic items. Prime members may also be given early access to such deals, specifically Prime-eligible Lightning Deals on Amazon.

Prime Early Access Sale may be Amazon’s way to preserve its growth through economic uncertainty and regulatory pressure.

Q2 2022 earnings results show that while the company exceeded Wall Street expectations for the second quarter with a reported revenue of $121.2B, up 7% from last year and well above the $119B projection, it did suffer a loss once again, this time for $2B in Q2.

By holding another mega sales event in October, Amazon could drive more sales. It may also help them to attract more subscribers to its Prime program.

What Does this Event Mean for Sellers this Black Friday/Cyber Monday (BFCM)?

A Prime Day-like event in October may throw a wrench into your BFCM plans. It means bracing yourself for:

• Added competition. Competitors may use this Prime Early Access Sale to launch their products into top ranking positions before the holidays.
• Potential shipping delays. More packages will keep fulfillment centers and carriers extremely busy as early as October, making the supply chain situation worse.

It would be best to have a plan that will help you to stay flexible on the days leading up to and during BFCM. Consider monitoring Prime Early Access deals and see if you can make adjustments to your own BFCM deals to capitalize on lessons learned during that preview. You might also want to start launching your BFCM promos earlier than your target date (e.g., first week of November) to benefit from the sudden shopping rush that Prime Early Access Sale may create.

Related: Amazon FBA Freight Forwarder Tips to Avoid Stockouts and Reduce Costs