Retail

Retailers See Big Rewards From Amazon Prime Day

Initial tallies of data from the 48-hour Amazon Prime Day show that other retailers have seen significant benefits, reporting online sales that were 64 percent higher than a typical Monday.

On the first day of Amazon’s shopping event on July 15, retailers that earn annual revenues in excess of $1 billion are reaping tremendous rewards, according to a report.

This year, retailers saw a 10 percent greater increase in eCommerce spending than Prime Day in 2018, the news outlet reported, citing Adobe Analytics, which measured transactions from 80 of the country’s top 100 internet retailers. Retailers with less than $5 million in annual revenue are also seeing their share of the Prime Day revenue pie, with a 30 percent increase in online sales.

Adobe’s data is based on an analysis of one trillion visits to over 4,500 retail sites and 55 million SKUs. It predicts that top retailers with more than $1 billion in online sales will see a revenue lift of 79 percent.

The research also predicts that Prime Day will be the third time that eCommerce spending goes over $2 billion on a day that’s not a holiday; the other two days were Labor Day in 2018 and Memorial Day in 2019.

With Prime Day now in its fifth year, a record 250 retailers are participating by offering bargains on their own sites. Walmart, Target and eBay are just some of the retail giants that joined in, advertising numerous deals and discounts.

“Last year’s Target.com One-Day Sale was one of our biggest days of the year for online sales,” said Mark Tritton, executive vice president and chief merchandising officer at Target. “This year, we’re giving guests more discounts across even more of our assortment, with two days to save on hundreds of thousands of items and offering the best options in retail for delivery and pickup on their terms, including same-day.”

Amazon launched Prime Day in 2015 to mark the company’s 20th year in business.

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