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The Prime Day Effect: How Amazon’s Peers Are Confronting the Ecomm Giant Head-On
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For the 8th consecutive year, mid-July has once again become synonymous with significant savings for ecommerce consumers. What started in 2015 as an ode to Amazon’s 20th anniversary has evolved into a multi-day, global discounts event known as Amazon Prime Day—one that extends beyond the retailer for whose name this event bears.
After a record $11.2Bn in sales in 2021, Amazon is expected to dominate the mid-July phenomenon with considerable discounts across its plethora of product categories. Analysts attribute the expected success to the company’s wide global reach: 78% of consumers are reported to know about Amazon Prime Day and 64% expect to shop it, according to National Today and Profitero.
In response to Amazon’s dominance in the month of July, retailers have historically fired back with their own iterations of Prime Day, leading to a new summer trend that puts the consumer in the driver’s seat.