e Day Ecommerce Trends to Watch //
Amazon will hold its annual summer Prime Day promotion on July 11 and 12. Amazon Prime members can access deals while Amazon’s rivals will be wooing bargain hunters online and in stores. It’s an excellent snapshot of the ecommerce market.
Why do we care? This year’s Prime Day proved that digital retailing is not exclusively online. Top retailers use a mix of digital and in store deals to cater for the many ways that shoppers search for deals.
Last year at this time, there was concern about inflation and supply chain issues. The 2022 event showed that online sales were ready if prices were right — U.S. Online sales reached $12 billion in those two days. This is an 8.5% increase from 2021.
Prime Day Competition. Amazon will offer discounts on products in the top categories such as electronics, toys, and home goods. However, other retailers are also looking to lure shoppers to their stores next week.
Here is a list of the top Prime Day deals compiled by data.ai, a mobile and consumer data platform.
Most of the promotional offers are linked to loyalty programs. Target Circle members will be the only ones to get access to its weeklong deal, while Walmart members who are Walmart+ members will have early access.
Kassi Socha is a director analyst at Gartner Marketing Practice. She said that Target, Walmart, Nordstrom, and Best Buy joined Amazon in offering key summer sales outside the 4th of Independence weekend. Our year-over year consumer research shows that consumers are shopping earlier and, in some cases year-round to prepare for the winter holidays. The more retailers boost their promotional marketing in this timeframe, then the more consumers will be encouraged to push forward their holiday shopping.
Find out why we care about loyalty marketing
Hybrid Shopping. Socha stated that hybrid shopping is on the rise. “Competitors to Amazon have strengthened their omnichannel offerings and may boost their summer sales results this year because they can get purchases to the consumer faster through buy-online-pickup-in-store, curbside pickup, or same day delivery.”
Groceries. Prime Day 2019 could include non-traditional categories like groceries, due to the growing popularity of hybrid shopping.
Data.ai reports that American consumers are willing to spend a lot on groceries and restaurants. Walmart and Target can capitalize on the trend with their ecommerce offers and by attracting grocery shoppers who are habitual.
Top categories. Omnichannel Marketing Platform Skai conducted a survey of 1,000 consumers before Prime Day in order to determine the top categories that shoppers were interested in.
The top ten categories are listed below:
- Consumer electronics
- Household Products
- Fashion and apparel
- Beauty and Personal Care
- Pets
- Toys and Games
The long and short game. Skai’s research shows that consumers are willing to take the time to search for the best deals online and are prepared to jump on Prime Day at the right price.
Sixty one percent of respondents stated that they began researching products more than a month before Prime Day. 63% of respondents said they would wait until Prime Day for a better price, even if they already had the item they wanted on sale.
Private labels. Prime Day could see retailers offering discounted store brands to satisfy the demand for lower prices.
Brad Jashinsky is a director analyst at Gartner Marketing Practice. He said that a number of multibrand retail chains have increased their private label store brands to attract price-conscious customers impacted by inflation, and to improve their margins.
The growth in private label sales at Target, Walmart and other multi-brand stores is a sign that macroeconomic and pricing conditions are pushing consumers to buy less. We expect the trend to continue and have an impact on summer sale results. Brands will need to differentiate themselves based on value and quality as consumers face tough economic conditions.”
Prime Day offers a variety of deals for hybrid shoppers who are open to shopping in store or online.
The article Prime Day Ecommerce Trends to Watch first appeared on MarTech.