How will "Amazon Prime Day" impact Black Friday and Cyber Monday?
Blue Light Special E-commerce. It has been hot on the heels of traditional brick and mortar retail for years now. Some said it would never catch on or would never last. I had a potential client within the last year tell me that her accountant advised against taking her clothing boutique the e-commerce route because "women do not buy clothes online". Sigh, e-commerce is here to stay!
On Monday, Amazon announced that to celebrate its 20th birthday, July 15th would be "Amazon Prime Day!". The company is promising deals to rival those seen on Black Friday! But, you have to be a Prime Member to take advantage. If you're not a member, no worries on July 15th Amazon will be offering free 30-day trial memberships!
Promising sales that will be better than Black Friday, in July? Sounds like Christmas in July to me! Back in December here on the blog, we discussed Black Friday and Cyber Monday sales and statistics. In that blog, we discussed ShopperTrak's statistics that show year to year in-store were down, but online year to year sales showed a double-digit increase. Matt Shay, CEO of the National Retail Federation stated last winter that "Everyday will be Black Friday. Every minute will be Cyber Monday." Did Mr. Shay have a crystal ball and predict "Prime Day"?
Last shopping seasons low numbers were attributed to stores like Target and Walmart starting sales as early as Halloween. Well, Amazon just sprinted ahead of them by 3 months! How will this affect this year's in store sales figures? Will it impact online Black Friday and Cyber Monday sales? I am sure it will in some capacity. What lesson can be learned from Amazon's announcement of "Prime Day"? Stay on your toes, be ready to compete all year long, keep your brick and mortar and your online store prepared. If you have been waiting to get your e-commerce and mobile house in order until closer to the holiday rush, you are missing out again. Last year it was estimated that mobile traffic accounted for 52.1 percent of Thanksgiving Day traffic. If you have been putting off e-commerce and mobile enhancements until late summer or waiting to launch until fall, you will once again miss out on opportunities because Amazon just beat you to the punch.
So, what do you think about Prime Day? Are you a member, will you be shopping? Are you a retailer who will be impacted by this sale? Is your mobile house and e-commerce system ready to combat this sale, by perhaps having a special Christmas in July or August type event? I am excited to see what kind of sales they will have that will rival Black Friday. Some reports say new deals will be announced every 10 minutes, almost like Kmarts old "blue light specials"! Let the shopping season begin!