Altaf Shaikh | July 11, 2017
I still remember when the home computer became popular in the 1980s, the Internet went public in 1991, and Amazon started in 1994 as an online bookstore. Amazon has grown from a garage business to an online “One-Stop-Shop” for everything that we need.
As Internet and shopping trends change, Amazon.com changes their vision to keep pace — “To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.” Soon, Amazon will be adding a fresh food market and messaging platform with the recent purchases of Whole Foods and Slack. Amazon is on its way to becoming the only retailer where you can get and do everything from banking to grocery shopping.
Amazon Prime Day was introduced in 2015 to boost sales during a slow time and to celebrate Amazon’s 20th Anniversary. During the event, Prime Time members took advantage of dramatically slashed prices. The overwhelming response created an annual event. According to Amazon’s Prime Day Insider’s Guide, this year’s sales event kicks off at 9 p.m. ET on July 10th and goes for 30 hours with flash deals offered throughout the duration (3:00 a.m. on the 12th).
Back-to-school and the 2017 Holidays are around the corner. What impact is Prime Day having on retail purchases? Statistics show that the school shopping season is starting earlier and ending earlier since Amazon launched its sales day three years ago. Cardlytics, a firm that tracks purchasing data, shows that the online sale was the peak of back-to-school sales in 2015 and that no other week of shopping during July or August could compete.
This year’s Amazon Prime Day is expected to foster even higher sales than previous years. With the increase in popularity with consumers, more retailers are hopping on the bandwagon. Some are even offering “Christmas in July” deals during Amazon’s mid-year holiday. The results of this will likely turn the Tuesday Prime Day in a multi-day event in the near future.
Amazon reported that their biggest sale day ever was on Prime Day 2016. Sales even surpassed Cyber Monday and Black Friday. As the cyber world grows, shopping at an actual store is getting less appealing. Cyber Monday and Black Friday are overlapping each other as retailers extend sales over multiple days before the holidays. While 2015 Prime Day sales exceeded Black Friday sales from 2014, there was a 60 percent surge in sales over 2015 figures.
With Amazon discounting many goods heavily during Prime Day, it’s making early holiday shopping attractive among consumers. The progression of E-Commerce each year has also encouraged more shoppers to avoid Black Friday crowds and shop from the comforts of home. I wouldn’t be surprised if events like Cyber Monday and Amazon Prime Day eventually do away with Black Friday altogether. And as retailers like Amazon push more companies to join the mid-year extravaganza, even Cyber Monday may just become a last-minute, “Oh, I forgot to get …” day.
As Amazon continues to forge ahead, businesses need to grab the coat tails of this E-Commerce giant and hold on. Try creating your own sales event during Prime Day. Or start selling on Amazon.com and become part of the bigger picture.
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Altaf Shaikh is ListEngage’s Founder and CEO. Altaf has been in software development and digital marketing for more than 25 years. He started ListEngage in 2003 to help businesses transform their email and digital marketing. ListEngage has supported the Salesforce Marketing Cloud since 2003 when it was ExactTarget. As a dedicated Salesforce Partner, ListEngage has served 900+ customers and earned multiple awards, such as: 2013 ExactTarget Global Services Award, the Inc. 5000 three consecutive years, and the Boston Business Journal's FAST 50 two years in a row. Contact Altaf at email@example.com.