Amazon Prime Day 2018: Are You Prepared? What to Expect
Amazon has released an official date for Prime Day 2018. This year, the sales will start on Monday, July 16th at noon PST and run for 36 hours.
If you’re a Prime member, then this is an exciting time to get good deals, from both Amazon and competing retailers. But, if you’re a business you’ll need to plan accordingly, or your Q3 sales could take a hit. Here’s what to expect from Amazon and others during the online retailer’s biggest sale of the year.
Learn from the Past: Prime Day 2017
According to RetailDive, the best-selling product category during Prime Day 2017 was electronics.
Business Insider reports that the top three best-selling products were the Amazon Echo, the Amazon Echo Dot, and an Instant Pot Pressure Cooker. (Home & kitchen supplies were also popular categories in 2017.)
With these figures in mind, let’s take a look at what past trends mean for 2018.
New Tech and Continuing Trends
Following previous years’ patterns, we can expect electronics to dominate sales, as Amazon has historically offered heavy discounts in their tech section on Prime Day.
At the forefront of purchases will likely be the Amazon Echo Dot. Digital Trends reports that as of June, in a close race between Google Home and Amazon Echo, the Echo Dot is currently the market’s best-selling smart speaker.
With the smart speaker on the rise, it’s safe to anticipate the entire Echo product suite will be overall bestsellers during Prime Day. Other popular home electronics (the Fire TV Cube, headphones, Roombas) will likely also be high performers.
(Personally, I’m just excited to get an Instant Pot.)
Competing During Prime Day
Based on prior years, competing retailers are preparing to combat Amazon’s doorbuster deals on July 17th.
Last year, Best Buy directly competed with Amazon in the electronics department, with a 48% overlap according to RetailDive. Smart speakers will likely be discounted and promoted by Best Buy during Prime Day.
The toy and grocery verticals will take a turn this year. Between Toys-R-Us’s recent bankruptcy & Amazon’s grocery expansion with Whole Foods, retailers will have to act fast to retain customers with equivalent deals and/or price matching.
As customers quickly switch between Amazon and other sites to find the lowest prices, chances are you’ll experience an influx of site visitors during Prime Day 2018. Gather insight from the buyers you snag, and use this time to learn from your visitors and site abandoners.
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