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Why Amazon Prime Day might become the new Black Friday

July 13, 2017 12:07 PM
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Why Amazon Prime Day might become the new Black Friday

Tuesday was Amazon's third Prime Day and the retailer said it was the biggest day ever in Amazon's history. The event grew by 60 percent compared to the same 30 hours last year and said sales growth for small businesses and entrepreneurs was even higher. Amazon said more new members joined the Prime subscription service than on any single day in its history and that the best-selling product on the day was the Echo Dot.

While the main aim of Prime Day is to drive more subscribers to its $99 per year service, another aim is to position the event as an equivalent to Black Friday, the day after Thanksgiving where retailers offer promotions to mark the beginning of the holiday shopping season, or Cyber Monday, where small and online-only retailers offer special deals.

Amplience's Smith added that it was "an opportunity to cast its Prime service into the spotlight, boosting subscription sales, Amazon-branded products and services sales, as well as brand awareness on a level that few retailers can match."

The strategy seems to be paying off. Amazon Prime had 85 million U.S. members at the end of June, according to data from Consumer Intelligence Research Partners, almost double the number of users in June 2015, according to Statista.

Smith says Prime Day also offers Amazon and its retail partners the opportunity to move merchandise and clear warehouse space ahead of the fourth quarter.

Also read: Redmi Note 4 Discounts and Other Xiaomi Product Offers on Flipkart, Amazon

Source: cnbc.com

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