As Amazon Prime Day is round the corner, brick-and-mortar retailers are looking for ways to compete with the astounding sales that are almost scaling near the “Black Friday” level. Brick-and-mortar retailers are coming up with an array of special offers and discounts to attract customers and lessen Amazon Prime Day’s impact.
This calls for investing in retailers poised to gain from their promotional sales campaigns during this Amazon Prime Day event.
How Prime Day Affects Retailers
This year’s Prime Day starts off on Jul 16 and wraps up on Jul 17. This will include over 1 million deals, more than 50% compared to the year-ago period. Amazon.com, Inc. AMZN is expected to generate $3.6 billion in sales on Prime Day this year, which will mark the biggest annual sales event ever, per Wall Street pundits. Prime Day, in fact, has already grown from $900 million in sales in 2015 to $2.41 billion in 2017.
Daniel Ives, head of research for the marketing insights firm GBH Insights, estimated that 60-70% of all the items on Amazon.com will be on a discount. Amazon is, further, offering its Prime members a $10 credit for spending $10 at Whole Foods Market stores. Amazon also doubled the cash-back bonus for Amazon Prime Rewards Visa card holders from 5% to 10%, provided they shop at Whole Foods. These schemes are part of the online giant’s efforts to build business at Whole Foods.
PlaceIQ also added that brick-and-mortar retailers do feel the heat on Prime Day.
The figures show the foot-traffic changes during the Sunday to Tuesday time period for a regular week, and the Prime Day week.