Prime Day Customer Stories – How Three Brands with Different Goals Struck Lightning
Since 2015, Amazon Prime Day has grown into a mega-event, enticing both sellers and consumers during their two biggest shopping days of the year. While sellers generally expect to see an overall boost to their sales during this time, there are many different paths to success.
Many brands don’t have the capabilities to execute different promotion and advertising strategies at the SKU level. Nor can they see in real-time if the strategies are working and how to make adjustments. This flexibility for real-time insights and feedback is critical to ecommerce success, especially during a retail blitz. Offering discounts, allocating more spend to advertising, and other strategies on Amazon Prime Day can drive increased impressions and revenue on a macro level. But what works best for each product?
By leveraging the Tradeswell algorithm during Prime Day, our customers were able to execute different strategies at the brand and product level, make key adjustments in real-time, and ultimately met – and often exceeded – their sales goals. This case study looks at the different strategies three brands took to meet their individual goals. *Data is based on two-day sales compared to the week prior.
Flexible Ad Budget
An upstart beauty brand utilized Tradeswell platform data and chose to offer conservative discounts on their products in order to protect their margins, and instead made their ad budget flexible as a way to reach new customers.
They doubled their sales and maintained margins
Heavily Discounted Pricing
Utilizing Tradeswell’s machine learning models, a major pet care brand was able to make creative price reductions on its products as a method to gain premium placement across Amazon.
4x growth in sales and 2x increase in ad-attributed sales
Big Investments in Advertising
A craft energy drink brand leveraged the Tradeswell algorithm to devise a strategy that invested heavily in advertising and promotions, including lightning deals, coupled with moderate price discounts, to drive premium placement. This brand’s goal was to ultimately drive new customer acquisition.
6x increase in sales and 7x increase in ad-attributed sales
With the event occurring in mid-October this year, Amazon’s Prime Day has marked the unofficial start of the Q4 holiday shopping season. If you’re looking to maximize healthy sales growth during this extended, unique 2020 retail season, it’s not too late to get started with Tradeswell.
Learn more about how your brand can leverage our quantitative platform for ecommerce success.