Amazon’s Retail Rivals Benefit from Prime Day
Amazon’s annual Prime Day sale has far-reaching effects. The online sale greatly benefited a litany of other online retailers, according to early analysis from a key data group.
On July 15, the first day of Amazon’s 48-hour sales event, large retailers that generated annual revenue of at least $1 billion saw a 64% increase in online sales, as compared to an average Monday, according to Adobe Analytics. The analytics firm measured 80 of the top 100 retailers on the web in the U.S.
Smaller retailers felt the bump as well. Those companies with annual revenue of less than $5 million, reportedly had a 30% increase in online sales.
But, retailers didn’t just sit on the sidelines and wait for sales to spike. A number of Amazon’s biggest competitors introduced their own sales to compete against Prime Day. Walmart ran a “summer savings event,” which ran Monday through Wednesday, and Target ran specials on in-house home goods brands. Best Buy, eBay and other retailers also ran specials.
It was estimated that 250 retailers altogether ran sales to capitalize on the surge of sales surrounding Prime Day, according to online coupon tracker RetailMeNot.
All totaled, Seattle-based Amazon said that it was offering more than a million deals on Prime Day, including specials on Amazon products like Fire Tablets, Echo smart speakers and Fire Sticks.
The e-commerce giant has more than 100 million subscribers to its loyalty program, Amazon Prime, which costs $119 per year and includes free two-day shipping, free streaming media and other perks.
Amazon said in a press release that its sellers had the biggest 24-hour sales day in the history of the company on July 15.
For comments, questions or concerns, please contact David Cohen
Connect CRE News
Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.
Connect Events
Whether digital or in-person, Connect Events set the stage to bring together relevant content with CRE’s most active players to engage, influence and inform.
Connect CREative
A full-service marketing agency dedicated to CRE clients. Combining our CRE background with our team’s business, marketing, communications, technology, to develop and execute comprehensive strategies to create, build, and and grow successful brands.