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How Does Amazon Prime Day Affect Online Retail?

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By Published On: July 15, 20190 Comments

With Amazon Prime Day hitting the world this week, there are some massive deals that are following - but what influence does this sales event have on other retailers? 

Amazon Prime Day is an annual event that offers exclusive deals to Amazon Prime members. Ironically, Prime Day will last for two days this year, but analysts predict that this event will push sales up 46 per cent, with an estimated gross revenue of $6 billion, making it the biggest Amazon sales event in history.

Amazon Prime is an exclusive membership that offers access to Prime Video, deals, free shipping and other stuff at a monthly fee of $6.99.

While Amazon doesn’t disclose the sales figures it reaches on Prime Day, the event surpassed US$1.5 billion in sales across the globe from small and medium-sized businesses alone in 2018. Sales grew 74 per cent in 2018 when sales grew to $4.19 billion, compared to 2017, which sat $2.41 billion.

In the lead up to Prime Day, Amazon held a concert featuring performances from Taylor Swift and SZA. It was exclusive to those who have access to Prime Video, and featured plenty of Alexa-themed jokes, as well as Prime Day promotions to pump up the viewers for the sales event.

This year’s event includes many sales from Aussie retailers such as Canningvale, who have seen a huge lift in sales due to Prime Day. “Canningvale is excited to be participating in Prime Day again this year after seeing almost a 500 per cent uplift in sales last year. Prime Day has become one of the biggest shopping events in the northern hemisphere and in time, we expect it to be no different for Australia. This year we will once again be offering great prices on a range of luxury homewares available on Amazon Australia,” explained Jordan Prainito, Canningvale’s Managing Director.

Prime Day deals include discounts of up to 50 per cent off Amazon Devices, including Amazon Echo, 50 per cent off brands like Adidas, Calvin Klein, Lorna Jane and Aussie shoe brand, Wild Rhino.

“With just a few days to go until Australia kicks off Prime Day, we are excited to share some of the deals that will be available to Prime members Down Under.  There will be tens of thousands of products at discount prices, so we hope there is something for everyone. With huge savings on everything from fashion to home entertainment and home and kitchen products to household essentials, we are excited to bring Aussies even greater value,” explained Amazon Australia’s Country Manager, Rocco Braeuniger.

Amazon Prime Day kicks off at midnight on July 15, and is exclusive to Amazon Prime members.

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About the Author: Power Retail

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