Prime Day 2024: Everything you Need to Know
Amazon Prime Day 2024 is just around the corner this July. With recent policy changes and the introduction of multiple new FBA fees, this year’s Prime Day is shaping up to be a challenge for third-party sellers. How will these fees impact Prime Day sales and how can you best prepare for this year’s Prime Day and make the most out of it?
BQool is going to summarize the fees you need to watch out for Prime Day 2024 and help you determine which popular products to stock up on now to prepare for the upcoming Prime Day sales craze. Sellers, get ready for a potentially game-changing Prime Day 2024!
A Little Fee Break for Amazon Sellers this Prime Day
Low-Level-Inventory Fees –
Low inventory fees were introduced back in April for products with low historical days of supply to be charged with additional fees. However, Amazon recognizes the importance of this major sales event for Third-Party sellers and has made a positive policy change to help boost your success during Prime Day 2024. Here is the snippet of this exciting news for Amazon sellers!
“Amazon understands that inventory levels can be unpredictable in the four weeks following Prime Day based on the sales spike. So, to provide relief, they will implement a time-bound exception, waiving low-inventory-level fees for products included in Prime-exclusive Lightning Deals and Best Deals promotions.”
If you want to learn more about Amazon official statement for the low-inventory-level fees waiver, click here.
Even though Amazon is providing some leeway for sellers, our suggestion would still recommend sellers to forecast your lightning deal inventory needs carefully based on projected sales lift and avoid sending in more than a month inventory cover at peak velocity.
Inbound Placement Service Fees –
The inbound Placement Service Fees came into effect from March 1, 2024, placing inventory closer to customers in multiple fulfillment centers across the country would incur fees for standard and large bulky sized products to reflect the cost of distributing inventory to fulfillment centers close to customers. Sellers who wish to fully commit to this year’s Prime Day should consider sending in extra inventory to support the anticipated sales surge. Despite the placement fees, the lightning deal exposure should lead to sales increase over the following quarter, which can make up for the temporary fee hit.
AWD Service –
Amazon is also pushing their AWD (Amazon Warehousing & Distribution) service to entice sellers who wish to bypass inbound placement fees.
“Prime Day is just around the corner, and we want to make sure you’re prepared to maximize your sales potential. One key aspect of this preparation is ensuring that your inventory is efficiently managed and stocked. Contact us today to sign up and Ship to AWD (Amazon Warehousing & Distribution) in preparation for Prime Day.”
With Ship to AWD, you can enjoy the benefits of an integrated low-cost bulk storage solution. This service helps you stay in stock in FBA (Fulfillment by Amazon). AWD pricing covers FBA inbound placement services; therefore, no separate FBA inbound placement service fee is charged.
If you want to leanr more about AWD Service, click here.
Return Processing Fees –
With the implementation of return fees across all categories this year, the potential impact on sellers post-Prime Day remains uncertain. While Prime Day is known as the largest sales event of the year, like any successful event, it comes with its share of drawbacks, such as an increase in returns. The updated return policy introduces new considerations for sellers, potentially posing challenges and impacting their bottom line. Sellers should look for quality products that are less likely to be returned by customers and BQool will share some of the hottest products to sell this year.
Prime Day 2024: Hottest Products to Stock Up On
To maximize earnings on Prime Day 2024, choose your product category wisely. While every product has potential, it’s crucial to research and identify current trends. Conduct thorough market analysis to pinpoint the items generating buzz, avoiding those that may lead to unsold inventory and associated fees. With strategic planning, here are some popular products to consider adding to your Prime Day lineup:
Joseon Revive Snail Mucin
Average Price: $16 ~ $18
With an impressive 21,268 units sold each month, these buzzworthy snail-powered must-haves are poised to be customer favorites during the annual shopping bonanza. Don’t sleep on this trendy K-Beauty cash cow.
Air fryer
Average Price $40~$200
Air fryers have rapidly evolved into the hottest culinary craze, with these innovative countertop appliances gracing kitchens everywhere. For sellers seeking the next big trendsetter and potential bestselling product for your amazon store, air fryers check all the boxes. Whether you’re sourcing budget-friendly models or top-of-the-line premium versions, the options are limitless to cater to every customer’s needs and budget!
Microcurrent-Facial-Device
Average Price: $39 ~ $400
The skincare category is a lucrative opportunity for sellers, especially with the rising popularity of beauty gadgets. These microcurrent devices have been taking social media by storm, with influencers and beauty enthusiasts raving about their ability to tone, lift, and revitalize skin. From affordable entry-level options to high-end luxury models, there’s something to cater to every customer’s budget and preferences this Prime Day 2024!
Kids Sun Hat
Average Price: $9 ~ $20
As summer approaches, consider capitalizing on the demand for seasonal products like sunscreens, UV-protective hats, and sun protection clothing. These items are must-haves for health-conscious parents looking to safeguard their families from harmful UV rays, and they can be readily sourced from suppliers catering to this niche market.
Water Shoes
Average Price: $9 ~ $30
Water shoes are a favorite among many for their comfort, affordability, and practicality. These popular minimalist shoes are not only stylish but also versatile, making them a go-to choice for everyday wear. With the current trend and high demand for water shoes, consider sourcing them this year to capitalize on their popularity and potential sales opportunities.
We remind you our products recommendations are examples to inspire you in selecting the right items for a successful Prime Day sale. To increase your chances of sourcing the ideal product(s), we advise using social media platforms like TikTok, and Instagram to stay informed about current trends and popular products. These platforms can provide valuable insights into what is currently popular among consumers. Additionally, we recommend utilizing analytics tools such as Selleramp and Keepa to help identify potential items for sourcing and boosting your sales this year! Utilizing these tools can take your sourcing strategy to the next level and increase your success on Prime Day 2024.
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