A huge draw for shoppers on Amazon is the competitive pricing. Typically, products sold on Amazon will be at their lowest price. There are also, of course, the deals on Amazon which attract buyers to the marketplace, hoping to snag a deal.
All sellers want to make a profit, but losing some to gain awareness is a worthwhile price to pay, particularly on a platform with so much competition.
What Amazon deal options are there for sellers?
Not all the deals a seller can apply for their products are the same, we have given a brief summary of the options available so brands can choose the one that suits their business the most.
Lightning Deals
A lightning deal is perfect for brands looking to instil urgency into their sales, a lightning deal is a promotion that offers a discount only to a set number of buyers within a specific time period, usually very short (4 to 12 hours).
This type of deal allows you to prepare the proposed quantity before the deal is expected to launch, reducing the risk of having too little stock to meet demand.
The lightning deal will end when either the timer stops or the stock runs out, whichever happened first. A status bar indicating the percentage of deals that have already been claimed is visible to customers which helps with the sense of urgency and speeds up purchase decisions. This type of deal can only be run by a brand once a week.
Deal of the day
In a similar way to a lightning deal, a deal of the day runs for a short period (typically 24 hours) giving customers a push to purchase before the time runs out. The difference however is that this deal can be for as much stock as you have available, rather than limited to a certain number.
7-day Deals
It isn’t rocket science to work out from the name that 7-day deals run for seven days. It is a good way to reduce your inventory if you want to make some space for new products as it gives shoppers a longer time to discover your deal and make an informed decision about whether they are interested in buying.
Amazon Vouchers
Like with discount codes, vouchers or coupons at other retailers, an Amazon voucher is a promotion where you as the seller can offer a discount in the form of a percentage off or a particular amount off (£3 for example), the voucher is applied at checkout.
8 things sellers NEED to know when they are considering applying for an Amazon Deal
- You will not get to choose the exact day or time, Amazon will decide when the deal goes live. You can however select the week that your Amazon deal will run.
- The date and time of your deal will be revealed in Seller Central at least one week before the Deal is scheduled to run.
- You must be on the professional Seller plan with at least five ‘Seller Feedback Ratings’ per month and an overall rating of at least 3.5-stars to be eligible.
- For the product itself to be eligible, it must already have a sales history on Amazon and have at least a 3-star rating by itself. It must also be Prime eligible and compliant with customer product reviews and pricing policies.
- Amazon Deals are strictly one per customer.
- Products should have high-quality images, a good title and a detailed description to maintain a high Amazon SEO ranking.
- You are limited in which Amazon deals you can promote on your products.
- Deals with greater available quantity could have an advantage in being selected as an Amazon deal due to the potential to drive more purchases through the marketplace.
Need a hand getting started with Amazon deals? Enlist the help of our team of Amazon specialists to get you started. Contact us today.