Prime Day gains ground on real holidays
The popularity of Prime Day presents retailers with an opportunity to ride Amazon's coattails and capture a portion of the spending their hype creates.
Infoscout, an omnichannel consumer purchase panel provider, surveyed more than 1,000 Amazon Prime Day shoppers who made a purchase on Amazon within the first 24 hours of Prime Day. Early trends reveal Prime Day, now in its 4th year, continues to grow -- attracting more shoppers than previous years.
Despite high levels of satisfaction from shoppers, Prime Day deals were still ranked lower than those from the Black Friday and Cyber Monday holidays. About 53 percent of the shoppers were very satisfied or extremely satisfied with Amazon’s deals and only 6 percent were not at all satisfied. Prime Day shoppers ranked Black Friday as the best retail holiday, followed by Cyber Monday, placing Prime Day in third place.
“In just four short years, Prime Day has established itself as a retail phenomenon,” says Peter Greene, Practice Director of Consumer Durables at InfoScout. “Amazon has built a holiday shopping occasion into consumers’ consciousness so much so that it is impacting annual spend in a broad section of categories, none larger than Consumer Electronics. Count on Prime Day 2019 to continue this trend, which is great news for all retailers.”
The survey revealed the following:
- Mobile surpassed browser shopping. 41 percent of Prime Day shoppers shopped on computers while 67 percent shopped Prime Day via their mobile device. But voice-driven purchases have yet to catch on, with only 1% of shoppers indicating they used their Alexa device to place a Prime Day order
- People shopped at work. 31 percent of Prime Day shoppers admitted to shopping at work, and spent an average of 41 minutes of their work day shopping at Amazon
- Amazon accelerated the consumer electronics purchase cycle. 49 percent of Prime Day shoppers purchased from the consumer electronics category, and 54 percent of these same shoppers bought the brand they planned on buying. 57 percent of consumer electronics shoppers were planning to make that purchase on Prime Day and 24 percent indicated they had been planning to wait three or more months to make that same purchase, indicating that Prime Day accelerated the purchase cycle for these products
"Amazon notoriously does a poor job with product recommendations," said former Chief Marketing Officer of Kibo, Tushar Patel. "Retailers need to ramp up their personalization game and provide a more engaging experience. Individualizing their customers’ experiences with personalization technology backed by advanced machine learning algorithms can provide relevance at scale, and will increase conversion and create loyal customers.”
Retailers and brands have never had more data, but insights into the behavior of the omnichannel shopper (and how best to serve them) are challenged by a lack of visibility into the performance of non-traditional retailers and new fulfillment options.
To learn more insights on data, don’t miss the Retail Leader and Infoscout free webinar.