Amazon's made-up shopping holiday could be paying off for its competitors
- Amazon isn't the only retailer that is benefiting from the annual Prime Day shopping bonanza.
- New data released by Adobe Analytics on Tuesday showed that some of Amazon's biggest competitors saw a 64% increase in online sales this Monday compared to the average Monday.
- Amazon launched Prime Day in 2015. It is now one of the company's biggest shopping events of the year. This year Prime Day was extended to last two days.
- More than 250 retailers, including some of its biggest competitors like Walmart, Target, and Macy's, are offering discounts to rival Amazon's own.
- Visit Business Insider's homepage for more stories.
Amazon's annual shopping holiday should be its competitors' worst nightmare, but new data shows that many are actually benefiting from it.New data released by Adobe Analytics on Tuesday indicated that some of Amazon's biggest competitors, such as Walmart and Target, saw a 64% increase in online sales on Monday during Amazon Prime Day.Advertisement
These retailers, which have launched their own deals during this period, are increasingly cashing in on Amazon's invented shopping holiday, or what's been dubbed by analysts as "Black Friday in July."
Walmart launched thousands of discounts on Walmart.com between July 14 and July 17, including more than $100 off items such as the HP 15.6-inch HD Touch Display Laptop or the Dyson Multifloor Bagless Upright Vacuum, Business Insider's Hayley Peterson previously reported.Target, Macy's, and eBay are offering their own sales, too.
to offer promotions over Monday and Tuesday this week, up from 194 brands that held deals to compete with Prime Day in 2018, according to RetailMeNot."Amazon Prime Day has turned mid-July into a true national retail holiday," Tyler Higgins, director of the retail practice at AArete, a global consulting firm, wrote in an emailed statement to Business Insider's Bethany Biron.Advertisement
Higgins believes that because Amazon has changed the landscape of retail spending, it has put pressure on retailers to respond with new ideas.
And it's not only the biggest players that are benefiting. According to Adobe, retailers with less than $5 million in annual revenue saw a 30% increase in online sales on Monday.Advertisement
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