Amazon Prime Day Kicks-Off

Amazon Prime Day will be kicking off next week on the 12^th-13^th and it is already shaping up to be a colossal day of commerce. The company has already started the bonanza with some early deals, although these are just to wet the appetite for what’s to come. Despite the name, Prime Day will not just be a one marketplace show. Walmart and Target are already preparing their own deals for the day and other retailers could jump in as well. Prime Day will be a 48-hour frenzy that could give us an early preview of the holiday season.

Despite the economic outlook, consumers are spending heavily right now, and Amazon is in the perfect position to capitalize on this momentum. Even though most of their early deals are on their own products, there is every indication that next Tuesday will promote discounts that could rival the forthcoming Black Friday. With inflation so high, we can be certain that consumers will be willing and able to take advantage of any price drops possible.

This is the biggest sale of the year up to this point and it is an important peek into the future. We could see many historic lows on popular items, evidenced by several Amazon devices hitting significant numbers already in their pre-sale. If the day turns out well for them, and other competing retailers, expect everyone to double down for Black Friday. Additionally, subscription services have become a key component in retailers’ strategies, and we will see that pushed more than ever next week. Their recent partnership with Grubhub could act as a one-two punch with Prime Day to drive up subscriptions. It is expected that several of the deals Target and Walmart are offering next week will be exclusive to their services as well. We could see the power of these service come into play later this year. Worth mentioning, many online retailers that use Amazon Pay are offering considerable discounts as well which should help to promote their online payment processing service.

Amazon Prime day has grown into a significant event since its inception and this year could set new records. By the end of next week, we will know how well the ecommerce giant fared and have a better understanding of how much buying power is out there. The digital, non-store marketplace has exponentially grown since 2020 making it a favored destination for shoppers. Suppliers should take advantage of this as a key revenue stream by including as many online shopping destinations in their client portfolio as possible. Connect with these ecommerce retailers today with CSG’s TORI, Top Online Retail Insight database of leads.