Retail Rivals Are Crashing Amazon’s Prime Day Party
The gravitational pull of Amazon Prime Day is so strong on shoppers it’s benefiting other retailers as well, according to an early analysis from a key data group. On Monday, the first day of its 48-hour sales event, large retailers, those that generated annual revenue of at least a billion dollars, enjoyed a 64% increase in online sales compared with an average Monday, according to Adobe Analytics, which measures 80 of the top 100 retailers on the web in the U.S. That compares with last year’s 54%. In addition, niche retailers, those with annual revenue of less than $5 million, saw a 30% increase in online sales. Amazon’s fifth annual Prime Day, which this year began Monday afternoon, was created to drum up sales during sluggish summer months and sign up more users for the company’s membership program. Read more at USA Today.
