Posted: 2020-10-13 20:31:47
Uninspiring Record-Breaking Prime Day 2020
From Marketplace Pulse at Marketplace Pulse
Originally published 2020-10-13
This year’s Prime Day is going to be another record-breaker. However, in its sixth year, it stands out the most by how little Amazon is trying. As e-commerce expands to exclusives, personalization, social networks, live streams, and video media, Amazon sticks with doing none of it. Nearly $10 billion worth of goods will be sold on Amazon worldwide during the two days of Prime Day, running October 13th to 14th. Digital Commerce 360 estimates sales to reach $9.7 billion, and eMarketer puts the figure at $9.91 billion. Those estimates put this year’s Prime Day up roughly forty percent year-over-year.
Prime Day is not indicative of any future trends in e-commerce. To many, it is the opposite of what they believe the future will look like. Prime Day is an event by the largest online retailer that attracts shoppers because it is the largest online retailer. In turn, Amazon reaches record sales, many third-party marketplace sellers double their daily sales volume, and some shoppers find great deals. It’s a win for everyone, except for other retailers that lose out on traffic. The best Prime Day deal is the one Amazon gets by having many of its Prime members coming to Amazon to check if there is a deal they like. If they don’t, there is a high chance they will buy something on Amazon anyway. That is why many more products get a sales lift than just those offering deals. Prime Day’s goal is to remind people to open the Amazon app.
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