1. Readjust Your Prices
After the dust on Amazon Prime Day has settled, some of your prices may need to be adjusted. Prices that you lowered to compete with opposing sellers can be returned to their normal levels. Conversely, products that didn’t sell during Prime Day may need to be priced even cheaper, especially if they are not performing well and ones that you are trying to clear out. Whatever the case may be, repricing in the days that follow Prime Day and then again a week or two later is critical to maintain momentum and avoid a post-Prime Day dip in sales.
2. Reassess Advertising Campaigns
The same rules apply to advertising campaigns. In most cases, you will be able to return your PPC campaigns back to their normal levels after Prime Day, but you may also need to change some strategies entirely based on how various products performed. Make sure to update your advertising campaigns to accurately reflect your advertising budget and the post-Prime Day landscape.
3. Correct Any Inventory Issues
Providing inventory to Amazon’s FBA warehouses is an inexact science. This is especially true for an event like Prime Day where some products perform way better than you expect and others perform far worse. Replenishing understocked items as quickly as possible will ensure that you don’t lose sales. Repricing or removing overstocked items will help you to avoid being hit hard by Amazon’s storage fees.
4. Take Notes for the Fourth Quarter
With the help of a comprehensive Profit and Loss Tracking Tool, you will have plenty of fantastic data to comb through after Prime Day is over. You can see exactly what worked, what didn’t, and what your profit margins were on your best and worst-performing items. It doesn’t feel like the holiday season during the hot months of summer, but the fourth quarter is right around the corner. Use the successes and failures that you had during Prime Day to inform your inventory, advertising, and product creation decisions ahead of the next big Amazon sellers event when the fourth quarter comes around in October.
Seller Fees to Monitor On and After Prime Day
we covered the increase in seller fees that was scheduled for the middle of the year. You can review all of these fees using the links below to see what Amazon sellers were charged before June 1 and what they will be charged moving forward. Most of these fees impact sellers that use FBA fulfillment centers, which means that inventory fulfilled by FBA during and after Prime Day will be affected.
The movement in inventory will drastically change after prime day, inventory management on amazon becomes a crucial factor to adjust to changing demands, very less or very large inventory can be problematic due to storage fees, strong forecast of the required inventory levels pre & post prime day can be very helpful.