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Back in July Amazon hosted their member-exclusive ‘Amazon Prime day’. If you’re not aware of what it is, Amazon Prime Day is a 48hr event where Prime members have access to exclusive deals, offering customers large discounts on top-of-the-range items.
Online retail hit the highest level in 3 years thanks to Amazon Prime Day. With most households owning a prime account, when spectacular discounts are exclusive for a short time, customers are more likely to make those purchases to save a few bobs. Sales rose by 6.9% throughout July – Office for national statistics (ONS). This makes it the biggest rise in online spending since May 2016.
To put these stats into perspective throughout the event 175 million items were sold. This is more than Amazon sold on Black Friday and Cyber Monday combined! With discounts making us feel a little less guilty about those ‘treat yourself’ moments. I mean saving money on something you’ve had on your Wishlist for weeks is a no-brainer purchase, right?
However, it’s not small, impulse purchases that have made up these sales. Technology and gadgets drive these sales, with the top 10 most searched items on the day falling into this category. Amazon has created a ‘need’ for consumers to have the latest techs.
Consumers are now conditioned through advertisements and marketing that we need helpful assistants such as Alexa. These gadgets have now become commonplace within the everyday home. They aren’t targeted at one consumer group, whether you’re tech-savvy or barely know how to send a text, Alexa is right for you.
Amazon’s own devices were reduced by an average of 45% compared to 37% in their 2018 event. These products become even more tempting, whether you’re buying for yourself or as a gift.
Amazon Prime Day is a great way for Amazon to guarantee sales and increase its members. A day before the event started Prime membership was discounted from £79.99 to £59.99 per year. Meaning if you weren’t already a member but wanted access to exclusive offers and deals you could join at a discounted rate. This offer was tempting to many, with Amazon gaining an additional 80 thousand Prime members! Which is a 147% increase year on year.
With the Amazon empire expanding from online retail to concept stores, drones and more. It looks as though their growth shows no slowing down. With bricks and mortar struggling, it’s clear the world of online purchasing is thriving. Whether it’s the ease, deals or advertising retailers need to make their online presence known to appeal to consumers.
