On Prime Day, members will buy…
While the official date of Amazon’s Prime Day has not yet been announced, Prime members are already making their shopping lists.
Home goods and electronics are once again tied for the most popular products consumers plan to shop for this Prime Day, with 41% of shoppers eyeing this merchandise. However, consumers would rather see sales on electronics than home goods (47% vs 45%), according to the “Amazon Prime Day Survey 2018,” a study from BlackFriday.com.
According to data, 28% of consumers will be in search of clothing/shoes/accessories, 20% will purchase toys and games, 16% will buy tools, and 10% will buy groceries. Women are more likely to buy home goods on Amazon than men (50% vs. 39%). Men are more likely to buy electronics on Amazon than women (43% vs. 33%).
Twenty-five percent of consumers will spend over $100, with 9% planning to spend $250 or more.
However, consumers are becoming more financially savvy this year, and doing all that they can to maximize savings when shopping online. Almost half of those surveyed (49%) always compare prices before buying on Amazon, with 33% only comparing prices occasionally.
Despite Prime members taking a more cost-conscious approach to Prime Day, they are not swayed by Amazon’s recent Prime price hike. Almost half of survey respondents (48%) said they’ll keep their Prime accounts, even with the price hike. Thirty-two percent plan on canceling their memberships.
And while 20% are upset about the price increase, they still want to participate in the sales. Thus, they will cancel their memberships and create trial accounts just for Prime Day shopping, the study revealed.
Compared with last year, the number of Americans with Prime accounts increased by 4% (480 out of 1,000 respondents had one in 2018 vs. 460 out of 1,000 in 2017). Another 7% plan to get one just for Prime Day. So by the end of July, this means that at least 55% of shoppers will have Prime.
Millennials (age 25 to 34) are most likely to already have a Prime account leading into Prime Day. The youngest consumers surveyed (ages 18 to 24) are least likely to have a Prime account (45%), closely followed by consumers aged 65+ (44%). Among those who don’t currently have a Prime account, males ages 18-24 are most likely to get an account just for Prime Day (10% vs. 7% overall).
Amazon’s Prime Day will be…
A technology glitch may have leaked the date of Amazon’s fourth annual Prime Day.
The shopping extravaganza reserved for Prime members is reportedly scheduled to start around midday on July 16, and continue through the following day, according to TechRadar.
A Prime Day 2018 banner was published on the Amazon U.K. website, presumably in error, and discovered by TechRadar on Thursday morning, according to the report.
This year’s event will be 36 hours long. Not only will it eclipse last year’s 30-hour event, it will also be the company’s longest Prime Day event to date, TechRadar revealed.
To read more, click here.
Study: All retailers can profit from Amazon’s Prime Day
Prime Day is poised to become one of the top e-commerce shopping days of the year — and not just for Amazon.
Prime Day 2017 proved that the amount of retailers that are leveraging the shopping holiday to capture their own market share is on the rise. The number of unique retailers that issued deals on digital coupon site RetailMeNot.com increased 340%, from 27 retailers in 2016 to 119 retailers in 2017, according to data from RetailMeNot.
Last year, Amazon Prime Day was RetailMeNot’s biggest online shopping day of Q3 across a variety of retailers and categories. That was up significantly from its 21st position in Q3 of 2016. Prime Day deals consisted of distinct messaging strategies: coupon codes contained the word “Prime,” and offers used phrases like “Prime Time,” “Black Friday in July” and “Cyber Monday in July.” They were also characterized by short-lived availability, aggressive discounts, sitewide codes and free shipping.
Retailers actively competing on Prime Day last year saw more than a 30% increase in online traffic to their RetailMeNot.com store pages. Those who didn’t participate experienced a 4% decrease in online traffic to their RetailMeNot store pages. While Amazon’s store page received 4% of visits to RetailMeNot.com on Prime Day in 2017, the vast majority (96%) of consumer website demand was driven by retailers other than Amazon.
Many retailers — and customers — also used Prime Day 2017 as an opportunity to spur back-to-school shopping. This year’s shopping holiday is expected to tell a similar story, as 91% of customers who plan to shop that day will make a back-to-school-related purchase. They have also allotted $70 of their Prime Day budgets (an average of $167) toward back-to-school items, the study revealed.
To be sure to grab this wallet share, 60% of companies plan to run promotional offerings that will target shoppers before Prime Day arrives. Further, more than half (54%) will run offers to coincide with Prime Day, and 53% will target shoppers in the following days who may have missed out.
These efforts could push Prime Day 2018 to become one of the top e-commerce shopping days of the year — potentially rivaling Black Friday and Cyber Monday in popularity, according to the study.
“Prime Day is a huge opportunity for all retailers,” said Marissa Tarleton, chief marketing officer of RetailMeNot.
“This relatively new shopping holiday has quickly become the kickoff for the back-to-school shopping season,” she added. “In both sales and opportunity, this day is transformative not just for Amazon but for all retailers savvy enough to capitalize on it. The day is here to stay, and it benefits consumers and retailers alike.”