Tech Bytes: Four tips to compete on Prime Day

Amazon has brought the saying, “Christmas in July” to life with its Prime Day global shopping extravaganza and this year's event promises to be bigger than ever.



The third annual Prime Day is set to span 30 hours, kicking off on July 10th, at 9 ET p.m., and concluding in the wee early hours of July 12. With new deals being rolled out as frequently as every five minutes, this year's event is expected to easily eclipse sales from the past two outings. During Prime Day 2016, customer orders surpassed the first shopping event by more than 60% worldwide and more than 50% in the U.S.



As they did last year, many retailers will be taking advantage of the big uptick in online interest and shopping that Prime Day generates by hosting their own shopping events and promotions around the same time. That makes sense — why let Amazon have all the fun? But to really benefit, retailers should move beyond discounts and deals.



Here are four tips on how to get the most out of your summer sales event:



• Offer a great customer experience. Instead of emphasizing deep discounts, focus on offering the best customer experience possible — one that Amazon can’t touch.



For example, Sur La Table is launching “Lime Day” in stores and online July 10. Besides featuring hourly item promotions online between 6 a.m. and midnight PST, the specialty retailer will also feature doorbusters and serve free lime slushies made with their Margarita Mix in-store, and employees will be decked out in “lime” attire.



• Get personal. Make the sale meaningful to individuals. Similar to Prime Day, for example, the event can cater exclusively to loyalty program members. Or, focus on a specific customer segment within the loyalty program. Regardless of who the event targets, always use personalized digital promotions that “speak exclusively” to the shopper.



• Bolster inventory management efforts. Besides creating and communicating relevant merchandise assortments to shoppers during the event, retailers must stay abreast of featured inventory availability. Of course, this is not an easy task when retailers plan to change promotions frequently throughout the event.



That said, ensure that e-commerce, mobile touch points, even local retail stores and customer call centers all use a centralized, advanced inventory management system that focuses on one inventory file and gives visibility into real-time stock levels.



• Deliver exceptional fulfillment options. While many brands still struggle with how to compete with same day deliveries offered by nimble online competitors, here’s a tip: just look within. Leverage store fleets and buy online pickup in-store services to get merchandise into shoppers’ hands the same day they place an order.



Want to drive more purchases? Make the option more attractive during pop-up shopping events. Maybe get rid of minimum order threshold requirements, or offer different pickup timeframes that will earn shoppers discounts on future orders. It’s a great way to get creative, while still deliver merchandise more efficiently and cost-effectively.