Growing Your Business
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How to compete with Amazon on Prime Day
July 16th is Amazon Prime Day, a day when Amazon offers dozens of discount deals designed to get customers hooked on Prime subscriptions.
While there’s no chance of competing with Amazon on price, small businesses can still find ways to turn Prime Day to their advantage - if they capitalise on the public’s anti-Amazon mood.
Amazon’s biggest sales day
Last year, customers ordered 34 million items – roughly 400 items per second. This year, however, Amazon will be hit by worldwide boycotts and protests, as business and consumer groups urge customers not to trade through Amazon’s online store.
In some countries, such as Spain, Amazon workers are being urged to strike on the day as well. That makes it a good chance for small businesses to present themselves as the ethical alternative to Amazon.
While you may not be able to compete with Amazon’s cut-throat discounts and ridiculously fast delivery speeds, you can showcase your small business’ authenticity and uniqueness.
Hijack Prime Day
Surveys show that customers aware of Prime Day may also look at other retailers for discounts, much as they do on Black Friday.
You can create buzz leading up to the day – much as you would for other sales events – only with the added “Beat Amazon” selling point. But be aware you may be giving Amazon’s own promotions free publicity by doing so.
Make it an experience
Experience-based shopping is the way to go now. A look at this year’s retail innovators shows that shops which focus on their in-store experience are able to beat back a general high street decline.
So even if it’s just talking to customers and offering your unique personality, you should do what you can to make your in-house experience one to remember.
Some simple, cheap ideas might include offering your customers coffee or snacks, or playing music in-store - but only if you feel your tastes and your customers’ are likely to match up.