What the 2nd Prime Day in 2022 Means to eCommerce Brands
eCommerce brands have been speculating for months about a 2nd Prime Day in 2022, and now it’s a reality. The event’s official name is the “Prime Early Access Sale,” and will take place on October 11 and 12. According to CNBC, the sale is only for Amazon Prime members and will feature a multitude of holiday deals.
Holiday Shopping Kick-off
So, what does a 2nd Prime Day in 2022 mean to the rest of eCommerce? Although Prime Day usually occurs once each year in the summer, in 2020 and 2021, Amazon ran the sale in October. This was a response to the pandemic, but it also served as an early kick-off to the holiday shopping season. Most brands jumped on the bandwagon with their own Prime Day promotions to take advantage of revenue streams in advance of Black Friday and Cyber Monday (BFCM).
Inflation Woes
According to Salesforce, brands can expect similar momentum this year. Their research shows that shoppers will buy early to avoid predicted price increases caused by inflation. Salesforce also forecasts that shoppers will switch brands this holiday shopping season if they perceive greater value from a competitor of their usual brand.
Harness Prime Day Momentum
The lesson for eCommerce brands is to make the most of the momentum that will inevitably be generated by the 2nd Prime Day of 2022. Whether Amazon is a channel, your competitor, or both, the Prime Day buzz is contagious and will get shoppers excited about the holiday shopping season. Take advantage of it with promotions and discounts of your own designed to get online shoppers to your eCommerce site.
Get Your eCommerce Site Ready
It’s no secret that site traffic overall is down, so it’s important to capitalize on the influx of online traffic that the Prime Early Access Sale is sure to generate. Online shoppers have many options so make sure your eCommerce site provides a great shopper experience. The easiest and most effective way to accomplish this is having fast page load times. The Site Speed Standard, a leading eCommerce data benchmark, reveals that when sites take longer than 4 seconds to load, over 60% of shoppers will bounce, usually to a competitor’s site. Additionally, saving just 1 second on page load times increases conversion rates by 5.6% and reduces bounce rates by nearly 12%.
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