For Amazon – the largest online retailer in the USA – the biggest sales day of the year is neither Black Friday nor Cyber Monday, but rather Prime Day. That’s that one day each year the company offers Amazon Prime members special price discounts on a wide range of products.
Amazon kicked off Prime Day 2018 at 3 p.m. EDT on Monday, July 16. The 36-hour sale will conclude at 3 a.m. EDT on Wednesday. This year’s Prime Day will feature more than one million deals, according to the company.
Amazon staged its first Prime Day in 2015. The inaugural event was an attempt to generate consumer demand during a time of year when many retailers experience a sales slowdown. Interest in the now-annual event has increased each year, partly because those who sell on Amazon, fearing they might otherwise miss out, continue to up the ante by offering steeper discounts in order to capture shoppers’ fleeting attention. Reportedly, consumers can find better deals on Prime Day than any other day of the year.
Traditional retailers (i.e., “brick-and-mortar” stores) are fighting back, reluctant to yield more e-commerce market share to Amazon, whose share of total e-commerce dollar sales is approaching 50%, according to CNBC. Physical retailers took a big hit on Prime Day 2017 when according to research, department stores experienced their lowest foot traffic of the entire summer.
Major retail rivals are staging their own massive July sales events in response. Kohl’s and Macy’s attempted to preempt Amazon by running sales in advance of Prime Day. Kohl’s July 10 “It’s a Big Deal” event promised “huge savings on top products,” plus a bonus of $15 in Kohl’s Cash for every $50 in spending, and free shipping on purchases over $25.
Macy’s “Black Friday in July” sales event has been extended through Tuesday, when coincidentally, Prime Day will be in full swing. Specials include free shipping, with no minimum purchase requirement, plus discounts ranging from 15% to 25%.
On Friday, announced it will offer “red-hot summer savings” on Tuesday. Shoppers can save 30% on Target’s kids’ and home brands, for instance. Plus, customers who spend $100 online during the sale will earn a six-month membership in Shipt – the retailer’s same-day delivery program.
This e-commerce news update was compiled by Butcher Block Co. – a leading online seller of wood countertops, kitchen furniture and equipment and more.
Release ID: 378125