For the tenth annual Prime Day (July 16 and 17, 2024), Amazon celebrated its greatest buying occasion but. The retail large reported record-breaking numbers for Prime membership signups over the three weeks prior and thousands and thousands extra members buying throughout Prime Day in comparison with 2023. The corporate famous that Prime members may store offers from Amazon’s model companions, unbiased sellers, and Amazon-branded services and products akin to Audible and grocery supply.
To trace how different retailers competed with Amazon this Prime Day, we reviewed 113 retail and model web sites throughout quite a few classes. We discovered that:
- Over half of the 113 retailers and types we reviewed participated ultimately. Of those 113 firms, 67% ran some type of promotion, whereas 13% held a sitewide sale — up from 9% in 2023. Many retailers we reviewed ran extra offers on their web sites’ gross sales sections or provided reductions on choose product classes or manufacturers. Simply 4% provided a present with buy, together with manufacturers like Estee Lauder and Nespresso, and solely 6% of manufacturers provided free transport as a part of a promotion — not together with the 8% of outlets in our overview that all the time provide the perk.
- Manufacturers need to money in on “members solely” offers. A number of retailers optimized their member and loyalty applications: Among the many manufacturers we reviewed, 14% provided unique offers or free transport to members or cardholders. Some retailers, akin to Lowe’s and Sephora, provided double loyalty factors.
- Gross sales proceed to increase past the official two-day Prime Day interval. Most of the manufacturers we reviewed are operating longer-period gross sales on their websites. Macy’s All-Star Week, the Nordstrom Anniversary Sale, and quite a few “Black Friday in July” occasions are just some examples. Some retailers are internet hosting totally different offers per product class daily for every week.
If you happen to’re eager about our Prime Day key findings from earlier years, you may overview our evaluation from 2020, 2021, 2022, and 2023.
Now that one of many greatest retail occasions of the yr has concluded, keep tuned for Forrester’s end-of-year vacation season planning and recommendation for retailers and types. Join with us and different Forrester analysts to study extra about vacation methods and techniques as we dive into the second half of 2024.
(coauthored with Senior Analysis Affiliate Delilah Gonzalez)
