It takes money to make money. Or, more accurately it takes Pavlovian-trained consumers to purchase items on a self-proclaimed shopping holiday to up revenue. In that vein, RetailMeNot has revealed that it largely benefited from last year’s Amazon Prime Day, signaling that other retailers aside from the behemoth can cash in on the occasion. According to RetailMeNot’s internal data, Amazon Prime Day was the biggest online shopping day during third quarter in 2017.
“Prime Day is a huge opportunity for all retailers,” said Marissa Tarleton, chief marketing officer of RetailMeNot. “This relatively new shopping holiday has quickly become the kickoff for the back-to-school shopping season. In both sales and opportunity, this day is transformative not just for Amazon but for all retailers savvy enough to capitalize on it.”
They’re beyond savvy — retailers are scrambling to sites such as RetailMeNot to lure in spend-ready shoppers. According to a RetailMeNot spokesman, online traffic increased more than 30 percent on Amazon Prime Day last year. That’s likely due to the rise in offers on RetailMeNot. “The number of unique retailers issuing deals on Retailmenot.com increased 340 percent, from 27 retailers in 2016 to 119 retailers in 2017,” the spokesman explained.
Retailers that didn’t offer specials on Amazon Prime Day 2017 dipped in online traffic. The spokesman said that non-participating retailers saw a four percent decrease in online traffic to their store pages on RetailMeNot.
Timing is everything. Much like Black Friday’s prelude to holiday shopping, Amazon Prime Day is increasingly viewed as a kick-off to reboot for the school year. “In 2018, shoppers making purchases on Prime Day plan to spend an average of $167 on their items, with $70 going specifically toward back-to-school items,” the spokesman said. “School shopping lists remain a top driver of purchase decisions on Prime Day for the parents surveyed. In fact, 91 percent of those who will be shopping on that day will make a back-to-school-related purchase.”
“Key time-frame data and insights are based on an analysis of a subset of the 500,000 offers from 50,000 retailers within our internal data, including engagement insights from consumers who engaged with these retailers on RetailMeNot’s desktop web site platform between July and September 2017,” the spokesman said.
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