Brands and retailers all know the power of Black Friday during the Christmas season. But did you know that there’s a huge opportunity in summer, and it’s right around the corner?
This year will mark the fifth Amazon Prime Day. During the annual retail event, which typically lasts a full 36 hours, Prime members descend upon the internet to capture amazing deals, from electronics to luxury items and everything in between.
But they don’t just shop on Amazon. Criteo’s research across our network of 18,000 retailers and brands shows a glowing halo effect around Amazon Prime Day. In fact, businesses that run discounts during Amazon Prime Day see, on average, a 40% increase in sales.
Consumers are ready to buy during the event and they aren’t limiting themselves to just one marketplace.
The Prime Day Halo
Our data shows that halo effect of Amazon Prime Day has the potential to benefit lots of retail categories.
During Amazon Prime Day:
- Computing/High Tech sales increase by up to +57% in sales.
- Fashion/Luxury sales increase by up to +41% in sales.
- Mass Merchant sales increase by up to +48% in sales.
- Sporting Goods sales increase by up to +58% in sales.
The Amazon Prime Industry Surge
Mobile web sales rise during Amazon Prime Day.
And it makes sense. With all the buzz about Amazon Prime Day leading up to the event, people are ready to capture the hottest deals, wherever they are, right from the palm of their hands.
The Prime Day Mobile Spike
Source: Percentages based on mobile sales. Criteo data, Retail, United States.
Normally, we see mobile spike during the weekends, when people are on the go and away from their desks. But compared to other Mondays and Tuesdays for mobile sales, the Monday and Tuesday of Amazon Prime Day see an increase in mobile share of sales reaching up to 43%.
So while the main event may happen during the workweek, the office elevator ride, the coffee machine wait, or even (gasp!) crowded team meetings all present opportunity moments for shoppers to quickly snag a deal.
Last-minute Shopping Increases
While add-to-basket numbers are consistent over the sales period, many shoppers wait until the last minute to buy, possibly because they’re doing research and/or comparing prices.
- Add-to-basket increases by up to +28% on the first day and stays high at +30% on the second day.
- Conversion rates go from +18% on the first day to +23% on the second day.
How Retailers Can Get Ready for Amazon Prime Day
What does all of this show us? Well, consumers are planning to spend during Amazon Prime Day — but not necessarily at Amazon. They’re open to discovering new products and finding deals anywhere. That means that companies need to get noticed.
Here’s how:
1. Begin your ad campaign before Amazon Prime Day.
In June, deploy retargeting technology to get website visitors to come back after they’ve bounced. As Prime Day approaches, pay attention to CPC budgets. By keeping them competitive, you’ll be able maximize traffic and sales.
2. Bid aggressively.
Consider uncapped frequency before, during, and after Amazon Prime Day to take advantage of high consumer intent.
3. Start spending early.
Our pre-purchase research shows that early spend can pay off on key sales dates. By being top-of-mind before consumers are going to buy, they’ll think of you when they do pull out their wallet.
4. During the first week of July, target customers who converted during similar peaks.
With a solution like Criteo Audience Match, you’ll be able to match customers from your CRM across channels and devices with hyper-relevant ads.
5. If you’re a brand, work with your retail partners to make sure that your products are prominently placed.
Criteo Commerce Display can help you build innovative, personalized experiences across retailer networks with rich media solutions and full creative control.
6. Find new prospects to target.
Build out strategies that can get you in front of the best possible shoppers. You can also leverage Criteo Customer Acquisition to target and convert prospective customers during this high-volume shopping period.
Our research clearly shows that shoppers anticipate Amazon Prime Day discounts, and they’re buying many different types of products, across many different marketplaces. If you’re a brand or retailer, you can’t afford to lose out on this opportunity to boost your mid-year sales.
‘Tis the season to embrace the halo around Amazon Prime Day, the Black Friday of summer.
Source: Indexed values based on average metrics in June 2018. Criteo data, Retail, United States.
