Amazon

Amazon Rivals Cash In On Prime Day

Amazon Teases Prime Day Deals

Amazon saw its biggest Prime Day in the company’s history, with its larger retailers seeing a 54 percent increase in sales during the event. According to Adobe Analytics data released on Wednesday (July 18), larger retailers  those with over $1 billion in annual revenue  can attribute the boost in sales to increased conversions on their own sites.

Even Amazon’s rivals reaped the rewards of Prime Day. Target‘s one-day sale on Tuesday (July 17) was its biggest online shopping day of the year, in terms of both traffic and sales, according to reportsWalmart promoted free, two-day shipping and cut prices on Google Home devices as a counter to Amazon’s Echo sales. And eBay wasn’t able to comment on its sales before reporting its earnings  the site had advertised exclusive deals at 80 percent off of items’ retail prices.

According to Retail Leader, Director of Adobe Digital Insights Taylor Schreiner said, “We’ve seen a 55 percent lift in online sales YOY [year over year] over the course of Prime Day for large retailers massive growth that we attribute to shoppers making purchases online with a variety of retailers. As a result of Amazon’s holiday increasing in popularity, numerous retailers offered deals on their own sites to combat Amazon, turning mid-July into a mini holiday shopping season. People love to comparison-shop, with many turning to Amazon’s competitors to compare deals and prices. Prime Day has turned into a huge opportunity for all online retailers.”

Not all retailers benefitted from Prime Day, however. Niche retailers  those with under $5 million in revenue  saw an 18 percent decrease in their online sales on Prime Day, Adobe said.

Prime Day is now seen as the kickoff to back-to-school shopping season. Adobe predicts that July through September will be the fastest-growing quarter of 2018 in the U.S., with back-to-school shopping on track to generate $57.79 billion in online revenue.

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