As Amazon's annual site-wide Prime Day sales period gets under way, GlobalData has said that the online giant needs to present a more compelling promotional offer in order to maximise customer engagement.
“To boost Prime Day participation, Amazon must offer unmissable deals on top brands to stand out among the many retailers already advertising a plethora of discounts," Eleanor Simpson-Gould, senior retail analyst at GlobalData, commented.
Taking place on 11 and 12 July this year, Prime Day is a 'is a global shopping event with deals exclusively for Amazon Prime members', according to Amazon.
Prime Day Participation
However, participation in the annual event has slowed in recent years, GlobalData research has found.
“The proportion of consumers with access to Prime membership has been accelerating since 2019, up 24.7 percentage points to reach 67.8% in 2022, according to GlobalData’s Prime Day Surveys," Simpson-Gould commented.
"Yet the proportion of consumers reporting that they bought something during Amazon Prime Day has not kept pace – Prime Day participation has only risen 13.6 percentage points over the same period.”
Scrutinising The Deal
She added that she expects deal-hungry shoppers to scrutinise the offers available during Prime Day "with a finer lens than ever before", to see if the online giant has been able to secure deeper discounts than its competitors. This is particularly evident in the UK, which continues to face high inflation rates, she said.
"Homewares & furniture discounts should be a focus for Amazon due to the largest spend in these categories attributed to 35-44 year olds, who made up the largest age profile for UK Prime Day shoppers in 2022, at 26.8%," she said. "Coupled with the improving optimism regarding spending ability seen by this cohort in June, this group is a key target for promotions.”
According to Jamil Ghani, vice president of Amazon Prime, this year's Prime Day will offer "more deals than ever before", as well as more personalised offers.
This year will also see celebrities and influencers, including Charli D’Amelio, Alix Earle, Michael Strahan, Ayesha Curry, and Paris Hilton, share their Prime Day selections through curated storefronts, Amazon said.
