With Amazon’s 2024 Prime Day quickly approaching, the competition is heating up. Some brands are upping paid ad presence, while others are beginning to slash prices. Momentum Commerce’s free Amazon Brand Leaderboard allows us to check in on which brands are ‘leading the pack’ at this point in early July, while others are taking a more reserved approach prior to the big day.

• Apple has begun to pull back on Paid Placements but has also decreased prices by almost 20%
• Sony has increased Paid SOV by more than 4% as we enter July, outpacing other brands in the category
• Skullcandy has decreased its average price by more than 26%, the largest of any brand in the category

• Bissell has discounted by more than 18%
• On the other hand, Dyson’s average price increased by more than 26% – potentially due to higher-end models ranking more often on relevant search pages
• Dyson also has pulled back the most of any brand in the category in terms of paid placements
• Bissell, Shark, and Dyson are in a tight race for the highest overall Paid SOV

• Despite a hefty increase in the prior week, Hamilton Beach has pulled back their paid placements, allowing Ninja and Cuisinart to compete
• Instant Pot has had the most drastic price reduction and Paid SOV increase at -20% and +0.49% respectively

Biggest Takeaways for Brands

• There is no ‘one-size-fits-all’ approach to Prime Day
  • Historically, we’ve noted that seeding demand prior to Prime Day is an effective approach to be successful, but this won’t apply to every brand
• Monitoring competitor trends leading up to tentpole events can help inform any adjustments in strategy
  • Tools like the Amazon Brand Leaderboard and Amazon Seller Central Dashboard can help here

Methodology

All price figures in the daily price graph are calculated as daily averages of a brand’s category-specific products based on their appearances within the top 10 overall (paid and organic) results on page one across the top one million search terms on Amazon between June 24th and July 7th, 2024. All Total share of voice (SOV) figures are drawn from a brand’s average share of organic, Sponsored Products, Sponsored Brands, Sponsored Brands Video, and Editorial Recommendations placements within the top 10 overall (paid and organic) results on page one across category-specific, top one million search terms on Amazon. All paid SOV figures utilize the same formula, but only across Sponsored Products, Sponsored Brands, Sponsored Brands Video, and Editorial Recommendations placements in the top 10 results on page one. In the accompanying tables, the ‘Prior’ period is defined as June 24th through July 1st, 2024, while the ‘Selected’ period is defined as July 1st and 7th, 2024.