A host of sources are insisting that Prime Day is still happening later this year, while others believe the event may be cancelled altogether. Since the resurgence of the Coronavirus, many vendors and sellers alike are facing drastic inventory supply issues that may not be resolved in time to support a Q4 that also includes Prime Day.
Those who can maintain a healthy supply chain through Q4 will see enormous returns, as Amazon’s massive growth in 2020 may translate to the biggest Prime Day yet. Last year, CPG, Hardlines, and Softlines all saw a median 4× increase in sales compared to the week prior, as Amazon saw a 5× increase in shoppers during last year’s event.
Although the exact date has yet to be announced, many believe the event will take place sometime in late September or early October. We recommend preparing your promotions early, set to activate 2–3 weeks before Prime Day. It will also be important to ensure budget for utilizing Sponsored Brands that link to your Brand Store, as Amazon reported a 5.2× higher dwell time on store pages, and a 23% higher ROAS (Return On Ad Spend) for ads that link to a brand store during the event.