Amazon Prime Day is approaching quickly with a start date of October 13, 2020. While Amazon typically holds this digital shopping ‘holiday’ in July, supply chain disruptions brought on by Covid-19 led to a postponement of the event. Despite setbacks beyond their control, Amazon has high hopes for this year’s Amazon Prime Day!
The 3-day holiday filled is the most important event of the year for Amazon, drawing in more sales than Black Friday and Cyber Monday. In 2019, Amazon made over $7 billion from the 48-hour event. In addition to being an opportunity to increase sales, Amazon Prime Day draws in many new Prime membership registrations for Amazon. The great digital deals entice many consumers to become part of this growing community of shoppers.
Popular Amazon Prime Day Deals
While the offerings of this year’s Amazon Prime Day will remain a mystery until it begins, the past couple of years have had a focus on electronics. Popular purchase items included e-readers, vacuums, blenders, smartphones and smart TVs. Amazon has already started offering a discount on the Apple iPad 2020 to entice customers to start shopping.
With so many kids attending school remotely and parents working from home, products like laptops and computers are already experiencing a surge in consumer demand. New discounts and limited-time offers just before the holiday season are going to tempt consumers further.
In a bid to compete with Amazon Prime Day, competitors like Walmart, Target and Best Buy often launch their own series of discounts to compete for customers. There are plenty of options for consumers to choose from, but they’ll have to wait until Amazon Prime Day to find out who has the best deals!
What Amazon Prime Day Means for Supply Chains
When it comes to Amazon Prime Day, supply chains should be prepared for anything. With so many different offerings on a wide range of products, there’s no way to predict how many orders will come in for each. Companies manufacturing in smaller quantities may have to pick up the pace on production ahead of the holiday.
Manufacturers of products like laptops, monitors and headphones are already experiencing a higher volume of orders because of the pandemic. Discounts are likely to amplify the number of orders. Since this year’s Amazon Prime Day is closer to the holiday season than usual, many shoppers have more concrete lists and are ready to order. This, combined with the fact that many consumers are choosing to keep their shopping digital during the pandemic, makes it likely that this year’s Prime Day will dwarf previous years’.
The best way for supply chains to prepare for the impact of Amazon Prime Day and the sales that follow is by leveraging visibility tools in their supply chains and remaining proactive instead of reactive. Companies need to provide real-time tracking information and shipment details to meet consumer expectations. The same information can empower retailers to make strategic decisions regarding their freight.
The key to true supply chain visibility is a transportation management system (TMS) like Kuebix. With Kuebix TMS, stakeholders can collaborate on a single platform for complete visibility and control of their shipping operations. Real-time tracking information helps everyone to stay informed and detailed reports and dashboards help companies analyze their performance and identify areas to improve.
Regardless of where customers shop for this year’s Amazon Prime Day, supply chains have their work cut out for them!