Get Ready for Amazon Prime Day
As the cases of COVID-19 continue to be contained, and more businesses and stores are opening up, e-commerce and businesses that have ominchannel presence should focus their attention on this Monday and Tuesday, June 21 and 22—Amazon Prime Day. This year, Prime Day may well be unlike any other.
Last year, Amazon surpassed expectations
While many businesses faced negative impact last year on account of the COVID-19 pandemic, Amazon flourished on Prime Day (which was held in the fall season). As Charles Taylor noted in Forbes, Amazon Prime Day 2020 sold a record $10.4 billion dollars worth of merchandise, and surpassed its Black Friday and Cyber Monday sales. The decision by many customers to shop as safely as possible via online purchasing definitely influenced these figures. What does this year look like?
Amazon Prime Day—an inspiration to shoppers
Mr. Taylor cited some interesting findings in a report that was conducted last month by Criteo regarding Amazon’s presence among both merchants and customers. Two-thirds of all shoppers nationwide are familiar with Prime Day, with 81 percent claiming that they are motivated (or in the mood) to make purchases during this event. (Yes, Prime Day can be considered an event.) They want to shop. And they are not limiting themselves only to well-known brands. Local business owners should therefore sit up and take notice.
How Prime Day benefits local businesses, whether they are on Amazon or not
The Criteo report suggests that there will be a “halo effect” resulting from Amazon Prime Day—the tendency for an impression created in one area to influence opinion in another. As noted above, people will be in the mood to shop this June 21 and 22. And while many small businesses list their products on Amazon, those that do not can also gain some sales. After having bought what they wanted or needed from Amazon, shoppers may still be inspired to visit other retailers to buy a few items, even after the Prime Day event has finished. As Mr. Taylor states: Thus, predictions of a strong year for Amazon, its small retailer partners, and other retailers make sense.
Know how customers think
Whether your business is listed on Amazon or not, keep in mind that this is a new era in buying and selling. The customer of today is savvy and has more demands. While this may be intimidating to merchants, it is necessary to understand what their customer wants. For additional insight, download the EGC study, “Psychology Behind the Post-COVID Consumer.”
Finally, apropos of Prime Day, find out how EGC's Amazon Marketing Services can boost your brand's presence and attract more customers to your products or services by clicking here.