Despite website glitches in the early hours of 2018 Prime Day, Amazon still reported a record-setting 100 million products purchased by Prime members in the 36 hour sales event.
What was introduced as a celebratory tie-in to Amazon’s 20th anniversary has become the anticipated summer sales event that overtakes Black Friday. Amazon uses Prime Day to test lucrative sale items, increase membership sign-ups, and build loyalty among consumers. And other major retailers are following suit, from Alibaba’s Singles’ Day to Nordstrom’s popular Anniversary Sale.
In fact, Target reported the highest single day of traffic and sales on its website this year, and Adobe Digital Index measured a similar effect across other large retailers ($1 billion+ in annual revenue) who saw a 54 percent increase in online sales versus average on Prime Day.Read More →