Amazon Prime Day, a 2-day sales event that took place June 21-22 of this week is expected to provide a huge boost for the retail sector as a whole. According to reports, the online sales event brought in about $10.4 billion in 2020 compared to only $9 billion on Black Friday of last year.
Based on a survey by the Adobe Digital Economy Index about 58% of consumers planned to shop on Prime Day and the event has had a “halo effect” prompting other retailers to offer competitive sales and discounts of their own. In 2020, over 350 retailers promoted their deals alongside Prime Day, an increase of 17% versus Prime Day 2019, according to RetailMeNot. Retailers can also stay competitive by offering options like ‘BOPIS’ (Buy Online Pickup In-store), free delivery or targeted marketing emails.
This is a great time of year for shoppers to get a head start on back-to-school or holiday shopping for the Fall.