Prime Day 2024: Key Dates Announced – What You Should Know

Amazon has officially announced the dates for its highly anticipated Prime Day 2024 event, marking the 10th anniversary of this shopping extravaganza.

Set to kick off on Tuesday, July 16 at 12:01am PDT and run through July 17, the two-day event promises Prime members exclusive access to millions of deals across a wide range of brands and product categories.

Prime Day 2024 is expected to feature a plethora of new deals dropping as frequently as every five minutes during select periods, ensuring that members can continuously discover new offers. Additionally, the event will bring back invite-only deals, allowing Prime members to request invitations for exclusive deals anticipated to sell out quickly.

Major invite-only deals include up to 40% off Sony Wireless Headphones and up to 30% off Peloton products.

“Prime Day is a celebration of the value we bring to members all year long, and features millions of deals across more than 35 product categories as well as discounts on Amazon devices, quality entertainment, groceries, travel, and more during the event,” said Jamil Ghani, Vice President of Amazon Prime.

Last year, Amazon customers saved nearly $24 billion from deals and coupons across the whole of 2023, with Prime members enjoying over $2.5 billion in savings during Prime Day alone.

Highlights of Prime Day 2024

1. Exclusive Deals for Prime Members

Brands: Discounts on popular brands such as Clinique, Allbirds, and Kiehl’s.

New Deals: Fresh deals every five minutes during select periods.

Invite-only Deals: Special offers on high-demand items like Sony Wireless Headphones and Peloton products.

2. Back-to-School and Off-to-College Savings

Guides: Comprehensive shopping guides for parents, students, and teachers.

Filters: Convenient filters to search products by price and delivery speed, including Same-Day Delivery in over 110 US metro areas.

Discounts: Up to 40% off on AmazonBasics school supplies and dorm staples, and Amazon Essentials clothing.

3. Early Deals

Access: Prime members can start enjoying early deals on brands like New Balance, HP, and Coach.

Influencer Drops: Exclusive deals dropped by influencers like Jess Sims and Millie Bobby Brown from July 8 to July 15.

For those who are not yet Prime members, now is the perfect time to sign up ($14.99 per month or $139 per year) or start a 1-week $1.99 trial to take advantage of the member-exclusive event.

Rivaling Events to Amazon Prime Day

Amazon isn’t the only eComm powerhouse gearing up for a massive July sales event.

Both Walmart and Target have announced their own sales events leading up to Amazon Prime Day, creating a competitive environment for shoppers’ attention.

Walmart is hosting its largest savings event ever, “Walmart Deals,” which will start on Monday, July 8 at 5pm Eastern and run through Thursday, July 11 at 11:59pm Eastern. Walmart+ members will get early access to these deals starting at noon Eastern on July 8. A free, 30-day membership trial is available. 

Meanwhile, Target has revealed the return of Target Circle Week from July 7 to July 13. This event will feature significant discounts on back-to-school essentials, up to 50% off select toys, up to 40% off kitchen items, and 30% off family apparel, bedding, and bath products.

Last-Minute Preparations: How Can Sellers Leverage Prime Day 2024

For sellers, Prime Day presents a significant opportunity to boost their sales and visibility. Below are the implications and strategies for sellers. 

Increased Traffic and Sales

The massive influx of shoppers during Prime Day can drive substantial traffic to listings. Be sure to prepare by ensuring inventory levels are adequate to meet the surge in demand. You may also want to set up low stock alerts for post-event restock if your sales spikes are greater than anticipated.

Related: Buffer Stock vs Safety Stock vs Anticipation Inventory

Visibility and Brand Exposure

An off-Amazon ads strategy using external traffic ads and DSP can increase page rankings beforehand to increase visibility during Prime Day and drive more customers to your listings during the event. 

Enhanced visibility through featured deals can lead to long-term customer acquisition. Utilize Amazon’s advertising options, such as Sponsored Products and Lightning Deals, to increase exposure.

Related: Amazon Ads and Retargeting with DSP

Optimized Listings

Improved product listings can enhance search rankings and conversion rates. Ensure your listings are fully optimized with high-quality images, detailed descriptions, and relevant keywords. Additionally, keeping your storefront up-to-date with Prime Day promotions is just as important.

Related: The Ultimate Guide to Amazon Creative Listing Optimization

Promotions and Discounts

Competitive pricing and attractive promotions can entice more customers. Consider offering exclusive Prime Day discounts and bundle deals to attract bargain hunters.

Early Engagement

Early access to deals can capture customer interest ahead of Prime Day. Promote early deals and engage with influencers to build hype and drive early sales. You can also send out email campaigns to your customer base highlighting your Prime Day deals.

Related: Two Amazon Marketing Tactics to Implement in 2024

Reduce Storage Fee Liabilities

Prime Day is a perfect opportunity to sell through those slow-selling products gathering dust – and storage fees – on FBA shelves. Create ad campaigns and pricing strategies designed to increase sales and reduce future storage and aged inventory fees. The sales boosts may even revive declining ASINs, turning products from fee liabilities into revenue assets.

Related: Slow Sellers Inventory Strategy

Maximize Profits with Returns Reimbursements

Adopt an effective Customer Returns and Lost Shipments reimbursement plan to retain your earnings. Eager impulse buying can lead to buyer’s remorse and higher than normal returns. The chaos of shipment and fulfillment processes within Amazon’s fulfillment centers leads to an increase in lost shipments. Having a solid strategy to mitigate the losses incurred will maximize your Prime Day profits.

Related: Game-Changing Customer Returns Services for 3P Sellers

Customer Retention

Post-Prime Day, you can leverage new customer relationships to foster long-term brand loyalty. Follow up with customers using Amazon’s Tailored Audiences tool to send emails, e.g., ‘Thank You’ messages or promotional campaigns, to encourage repeat purchases. 

Download Carbon6’s free Prime Day Playbook for a more in-depth guide.

Prime Day 2024 is not just a sales event. It’s a chance for you to significantly amplify your brand presence and customer base. By preparing strategically and leveraging the unique opportunities presented, you can maximize your success during this 2-day sales bonanza.