Amazon Prime Day tips for retail media buyers
The retail media industry knew Amazon Prime Day was coming, but now we have dates: July 16–17, 2024. Amazon only announced this year’s dates this week, which means experienced retail media buyers are already deep into planning for the to-be-announced event.
It’s a big deal, as the press release notes: “In 2023, Amazon celebrated its biggest Prime Day event ever, with Prime members purchasing more than 375 million items worldwide and saving more than $2.5 billion on millions of deals across the Amazon store. That beat the previous record set by Prime Day 2022.”
We dug up two blog posts from our archives that are worth a reread as you ready your retail media budgets for the event next month.
How to prime for Prime Day: The power of pre-event advertising and brand building
The TL;DR on this—retail media buyers must prepare for Prime Day before they actually know when it is. This starts with building brand awareness: “Shoppers don’t make decisions about what to buy on Prime Day solely based on what they see on Prime Day. Consumers are searching for the products they have learned about previously (through advertising, word of mouth, or unpaid content discovery). Prime Day is simply the catalyst that pushes consumers over the edge to convert by creating the conditions that make them ready to shop.”
The ecommerce brand’s guide to Amazon Prime Day: Best practices & strategies
We called this post a guide for a reason. It starts off by answering four FAQs, like “Should I be spending more on advertising on Prime Day?” It then outlines what a conservative and an aggressive approach to Prime Day might look like, five tips for prepping, and the eight metrics to watch.
