Amazon’s sales are higher on Prime Day than Black Friday or Cyber Monday. That’s just one of the reasons why your brand should craft a game plan for this day dedicated to discounts for Prime members. Here are some other rationale.
- Over 66% of US households are Prime members.
- More than 60% of Prime Day buyers planned for the event at least 4 days in advance.
- 39% of Prime Day purchases were impulsive, with cosmetics and beauty items leading the way.
- A number of brands were very successful because they unveiled new products on Amazon on Prime Day.
- Small/medium businesses sold more than $1 B on Prime Day last year.
- Prime Day was celebrated with a week of special discounts at Whole Foods Market in July 2018.
- 40% of consumers who participated in Prime Day also purchased from competing retailers who offered discounts, especially Walmart and Target.
- Other retailers were particularly effective at gaining Prime Day share in grocery, cosmetics and beauty categories.
Even though Amazon hasn’t yet announced the date for Prime Day 2019 (it’s likely to be in mid-July), brands should be setting their strategies now to drive sales.
Sources: Amazon 2018, AT Kearney 2018, CNBC 2018, Inc 2018, The Street 2018
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