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Five takeaways on Amazon Prime Day

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Coronavirus has pushed more consumers to shop online this year, increasing demand at Amazon-led retailers
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, but it may have also dampened the appetite for the Amazons’ sixth annual Prime Day shopping festival.

As the dashboards reverberated in how the world’s largest online retailer fared on its self-created shopping opportunity, Amazon said Prime Day sales this year exceeded the years. past and inked the two biggest days in history for its third-party vendors, made up primarily of small to mid-sized companies. Sales from third-party sellers rose nearly 60% to $ 3.5 billion on day one, Amazon said.

Amazons US Prime Day spending increased 36% from previous years, according to e-commerce research firm Edison Trends. Digital Commerce 360, meanwhile, estimates that Amazons’ global Prime Day sales grew 45% to $ 10.4 billion this year.

However, absent from the company’s post this year, there were references seen in announcements from other years that bragged about making Prime Day yet another record to become the company’s biggest business event. Last year, Amazon said its two-day Prime Day event overtook previous Black Friday and Cyber ​​Monday combined.

Amazon declined to rank this year’s Prime Day total relative to other shopping days, and this year the focus was on small business third-party sellers.

While the Amazon Indias first day event in August may have affected this year’s total tally, studies have shown that the postponement of Covid-19 to October from the traditional July time may have confused some consumers. Online searches the day before Prime Day 2020 are down 48% from the Prime Day previously expected in July, according to consumer research analytics firm Captify.

Its data indicates that consumers who have already bought more online this year may not have been as receptive to another surge in online sales. Overall, ecommerce searches fell 84% in the past three months to mid-October compared to the previous three months, Captify said. The company said it’s the first time in five years that it hasn’t seen the ripple effect of search-based offers on the web boosted by Prime Day.

Amazon Prime members are essential to its growth as they tend to spend more than other buyers and are more attached to the Amazon ecosystem of products and services. Morgan stanley
SP
It is estimated that Amazon will likely add around 9 million US households this year, 25% more than last year, to around 82 million, or 65% of US households.

Other takeaways:

This year Prime Day marks the official start of the holiday season: Just two days after Prime Day, Amazon unveiled what it described as an epic Black Friday-worthy trading event on Friday. Except this dashboard has already been launched with Prime Day.

According to a Numerator survey, 29% of Prime Day shoppers said they purchased Christmas gifts on Prime Day, and about a quarter of those who made those purchases said they completed at least half of their holiday shopping through spending. Prime Day.

Prime Day has become a must-see shopping opportunity in the United States on the retail calendar: More than 350 retailers, more than 17% from last year, have been promoting alongside Amazon Prime Day this year, according to the RetailMeNot site found. About 30% of them even used Prime messaging in their offers or codes.

Amazon still owns most of the Prime Day sales: Despite a growing number of rivals, led by Walmart
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, Target
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and Best Buy
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, poised to cut corners on the Amazons’ position, Edison Trends found that Amazons Prime Day’s market share over the other three fell slightly to 91.2% from 92.8%. Walmarts’ share fell from 2.8% to 3.6%, while best buys fell from 2.7% to 3.1%.

The Numerator study found that 72% of Prime Day shoppers did not compare Amazon’s prices with other retailers before making their purchases, while 53% of shoppers only considered Amazon for the purchases they made. Prime Day. However, one in five Prime Day shoppers said they made purchases elsewhere as well.

Yes, the coronavirus is having an impact on what people buy: Although its unsurprisingly Amazon devices, including its Echo Dot smart speaker, remained among the most popular on Prime Day, the coronavirus had an impact on what consumers wanted to buy around the world and made some of the most popular. traditional consumer products among the best-selling stars. They include the Finish Powerball All in 1 Max detergent in Spain; Familia Plus paper napkins in Turkey; Dettol Cleaning Wipes Power & Fresh in the Netherlands; and the versatile Lysol disinfectant in Mexico.

Related on Forbes: Coronavirus will be the final catalyst to wipe out excess US malls: study

Related on Forbes: NYC will continue to eat outdoors all the time, but is it enough

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