Are You Ready for Prime Day?

Starting any growing any business can be a daunting task. Selling on Amazon is no different. With that said, it’s worth the journey!

We hope you enjoy this weeks issue of the Internet Mastery Global Newsletter.

Weekly Training Video

This weeks video relates to a new twist to Product Sourcing. This video is pure fire with serious content that can positively impact anyone’s Amazon Business - Click here!

2023 Amazon Prime Day - What we can learn to be best prepared for 2024 Special Events!

Amazon Prime Day is highly anticipated by both Amazon sellers and Amazon customers. This key event can mean impressive sales numbers —and Prime Day 2023 did not disappoint. With any luck, you and your customers felt the thrilling scale of this event. 

Let’s take a closer look at the results of Amazon Prime Day 2023, and consider how impactful this date can be for Amazon sellers .

How does Amazon Prime Day Work?

Each July, Amazon holds a two-day event aimed at Prime members with special prices for a range of products. This includes a number of categories, such as clothing, home goods, beauty, and electronics. With such a wide range of departments taking part, most customers would have the chance to find a deal that interests them.

In 2023, Prime Day was held from July 11th to 12th. To build anticipation, a number of Prime Day deals were released in the week leading up to the event, as well as during the event. Customers can see the most recent offerings on the Amazon Prime Day page. They could also simply make searches as usual to select a deal of their preference.

What Happened on Amazon Prime Day July 2023?

You are probably aware that Amazon Prime Day 2023 was a success, however, the statistics make this unmistakably clear. When you take a look at the 2023 Prime Day sales numbers as published by Amazon, the momentous size of this event comes into focus.

• Over 375 million items were purchased by Prime customers around the world during the Prime Day 2023 event. 

• The total amount that Prime members saved during the 2023 Prime Day event exceeds $2.5 billion. This comes to greater savings than any other Prime Day event.

• A greater number of Prime Day deals were offered to small businesses than in any previous year. This is particularly relevant to new and more modestly-sized sellers.

• Third-party sellers’ sales outpaced Amazon’s retail business during Prime Day 2023. For entrepreneurs, this is good news indeed.

• Finally, the first day of Amazon Prime Day 2023 became the single biggest sales day that Amazon has ever had. Let the scale of that sink in for a moment.

It is clear from these numbers that Prime Day 2023 made history for Amazon. 

During this landmark event, sales were made across many different product categories. However, the three best-selling categories were: Fashion, Beauty, and Home. This is worth noting for sellers who are keen to plan ahead for the next event.

What can Prime Day 2023 Tell us About the Future?

We can easily see that customers showed up for Prime Day 2023 with plenty of enthusiasm. But what can these impressive numbers tell us about what to expect going forward?

Approximately 68% of customers say they plan to shop during the 2024 Amazon Prime Day. The number of customers with access to their own Prime account also seems to be going up with an increase from roughly 27% in 2022 to 52% in 2023, according to one survey. Customers seem to appreciate the benefits of being part of the Amazon Prime members community.

What Did Amazon Prime Day 2023 Mean for Your Business?

Given the outstanding performance of Prime Day 2023, you may have shared the success with impressive sales of your own. Although this is a moment to celebrate, remember to keep the momentum going and look ahead. 

The record-setting impact of Prime Day 2023 will not be forgotten anytime soon, and there is no denying that the statistics for this event are exciting. If you take what you have learned during Amazon Prime Day 2023 and go forward even stronger into Q4, your business will be poised for success.

Amazon Prime Day 2024: everything you need to know

It's still a few months away but it won't be long until Amazon Prime Day 2024 is here. The retailer's annual mega-sale for its paid members is one of the biggest shopping events of the year. While a date hasn't been announced just yet, it will likely take place in July once again. 

We've got an idea of what to expect from this year's event following the big Amazon Spring Sale in March. That sale included lots of discounted Amazon devices, TVs, laptops and more - the majority of which should be on sale again in July. 

You can keep this page bookmarked for all the latest news and announcements over the coming weeks. I'll also share all the best Amazon Prime Day deals picked by our experts and based on TechRadar's years of experience covering the sale once it starts.

When is Amazon Prime Day 2024?

Amazon hasn't announced the date for Amazon Prime Day 2024 yet, but we fully expect that it will be in July as usual. Our best prediction based on the dates of previous sales is that the two-day sale will take place on July 9 - 10.

We'll listen out for more news and announcements over the coming months and be back to update this page as soon as we get any new information.

How do I become an Amazon Prime member?

You need to be an Amazon Prime member to access all Prime Day deals. A subscription costs $14.99 per month or $139 for a year.

If you haven't signed up before then new subscribers can get a 30-day Amazon Prime free trial to buy the member-exclusive deals. The free trial also lets you try out all the other membership benefits, including free shipping, access to Prime Video and much more. 

You can read our Amazon Prime review for full coverage of what you get as part of a membership. That can help you decide if you want to cancel Amazon Primeonce your free trial has ended to avoid being charged the monthly fee.

What are the best Amazon Prime Day deals?

The majority of the best Prime Day deals are on Amazon products The retailer always discounts these products to their lowest prices during Prime Day – even cheaper than we see on Black Friday – which makes it a great time to buy a Fire TV, Kindle, Echo Dot, Fire Tablet and so on.

There are also hundreds of deals in all of the retailer's most popular categories, too, such as TVs, laptops, appliances, smart home tech, gaming, fashion and more. Depending on the product, you can often pay the lowest price that year during Prime Day, though some of the biggest savings are held back for Black Friday in November.

No matter what it is you're after, we search through the full sale to bring you all the best Amazon Prime Day deals right here so you can be sure you won't miss out on a bargain.

Will there be a Prime Day in October 2024?

Amazon has also run a Prime Day in October in the last two years, so will it run another in 2024? While nothing has been announced, we are confident there will be a second Amazon Prime Day in October. It's been relatively successful as it's an ideal preview for the retailer's Black Friday deals in November, so it's very likely that Amazon will hold it again in 2024.

Amazon pours an additional $2.75 billion into AI startup Anthropic

Amazon said Wednesday it is pouring an additional $2.75 billion into Anthropic, bringing its total investment in the artificial intelligence startup to $4 billion. 

Amazon will maintain a minority stake in San Francisco-based Anthropic, a rival of ChatGPT maker OpenAI.

“Generative AI is poised to be the most transformational technology of our time, and we believe our strategic collaboration with Anthropic will further improve our customers’ experiences, and look forward to what’s next,” said Swami Sivasubramanian, vice president of data and AI at AWS, Amazon’s cloud computing subsidiary.

The Seattle-based tech giant made an initial investment of $1.25 billion in Anthropic in September and indicated then it had plans to invest up to $4 billion. 

The two companies are collaborating to develop so-called foundation models, which underpin the generative AI systems that have captured global attention.

Under the deal, Anthropic will use AWS as its “primary” cloud provider and use Amazon’s custom chips to build, train and deploy AI models. It will also provide AWS customers, which are mostly businesses, with access to models on an Amazon service called Bedrock. In its announcement Wednesday, Amazon said companies like Delta Air Lines and Siemens are already using Bedrock to access Anthropic’s AI models. 

The investment is the latest example of how Big Tech companies are spending on artificial intelligence startups amid growing public and business interest in the technology.

Congratulations!

We are super proud of the Internet Mastery Community - now surpassing more than $174,771,415.03 - UP $708,000 (Since LAST week) in sales on Amazon.

Check it out for your self here: https://app.internetmasterycommunity.com

Story of the week!

Too good… if you missed it, watch it again:
To Be Continued…

Upcoming Events

The ASD Tradeshow takes place August 4-8, 2024. If you plan on attending ASD (which you should), your first stop needs to be InternetMastery.live - taking place August 1-3, 2024 and focusing on wholesale product sourcing and discovering the secrets to mastering the ASD tradeshow.

Join us for our next IM Live event where hundreds of Internet Mastery Community Members will discover the latest advanced strategies, insights and updates to scale their online business.

The upcoming Internet Mastery Live in Las Vegas will be the biggest and best IM Live EVER! Will you be there?

Join us in person - get your tickets here: https://www.internetmastery.live

Love Internet Mastery? Let us know!

Please leave us a review - we would love to hear from you!

That’s all we have time for today!

Stay tuned - each week we’ll uncover strategies and updates to help you grow and scale your eCommerce business!

Knowing No Boundaries,

Internet Mastery Newsletter Team!

© Internet Mastery 

By reading this, you agree to all of the following: You understand this to be an expression of opinions and not professional advice. You are solely responsible for the use of any content and hold Internet Mastery and all members and affiliates harmless in any event or claim.

Copyright © 2011+ Internet Mastery. All Rights Reserved.

To make sure you keep getting these emails, please add us to your address book or whitelist us.  If you don't want to receive any other emails, click on the unsubscribe link below.