Amazon Prime Day 2020: Funding Your Store for Prime Day Success
For cross-border sellers, Amazon Prime Day has long been one of the most important events of the year. Prime Day 2019 sales hit a record $7.16 billion, up from $4.19 billion in 2018, and just behind the $7.4 billion in online sales on Black Friday 2019.
Prime Day has been confirmed to take place on October 13-14th, and due to the COVID-19 pandemic, sellers have been forced to rethink their Prime Day strategies. This year, we’ve seen a dramatic shift in purchasing behavior, with products suitable to life at home surging, while items related to travel and leisure recording a significant drop in sales.
As Prime Day gets closer and closer, now’s the time to get your store ready. Here, we’ll be discussing how to fund your store so you can stock and manage your inventory while marketing your store to help maximize sales.
Funding Your Store for Prime Day Success
For this year’s Prime Day to be a successful one, you need to make sure you have the funds you need to get the right inventory, advertise your store, and optimize all your listings. The good news is that we can help with that!
Payoneer has developed Capital Advance, the ideal cash flow management solution to help sellers like you succeed. Capital Advance provides eCommerce merchants with extra working capital to boost your business. Although the size of your offer is determined by the sales performance of your online store, every offer includes three great features:
- Instant funds with no credit checks
Payoneer extends working capital offers based on your marketplace sales history and you can get the funds in your Payoneer account with just a few clicks. - Gradual settlement from marketplace sales
Once you accept the offer, Payoneer will collect a portion of your future marketplace sales, while leaving you with cash to maintain your business between payout dates. After an offer is completely settled, a new offer will follow it, subject to eligibility requirements. - One low, fixed fee
There’s nothing worse than the surprise fees and hidden costs that can really impact your bottom line. With Payoneer, you’ll only be charged one fee as you finish your settlement and you’ll see the fee amount before you accept the offer.
Conclusion
With the COVID-19 pandemic still very much impacting every part of our day-to-day lives, we’re sure preparing for Amazon Prime Day 2020 isn’t going to be easy. It’s important to take control over your business where you can. Changing consumer trends can present a lot of great opportunities for cross-border sellers, something you’ll want to factor into your Prime Day preparations. Remember, no matter what your goals are for Prime Day, a Capital Advance from Payoneer can give you the funds you need to stock and market your eCommerce store so you can hit your targets and grow your business.
If you could benefit from extra working capital, learn more about Capital Advance today.